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Hiring Business Broker

Job offer

Position: Business Broker

Quorum Business Advisors- Jacksonville, Florida Area

Job Description

Your major responsibilities will include:

•Developing and securing new “business for sale” listings through networking, direct marketing and calling on business owners using a consultative selling approach
•Preparing business valuations, financial recasting and marketing packages for your listings
•Qualifying, developing and coaching new business buyers
•Handling transaction management: working with sellers, buyers, accountants, attorneys, landlords and all related parties for a smooth and successful completion of the transaction
•Utilizing networking, marketing and sales to obtain new “business for sale” listings
•Guiding deal management: working with sellers, buyers, accountants, lawyers, landlords, etc. to move
transactions to completion

Desired Skills & Experience

Previous sales experience – experience in business sales is a plus but not a requirement
Excellent communication skills – Oral and written

Business Acumen
Excellent listening skills
Group presentation experience
Self Motivated
High integrity and trustworthy
Able to work in a commission only environment

Must have real estate license or be prepared to obtain one.

Company Description

Quorum Business Advisors is an Independently owned Florida Business Brokerage. Our firm offers privately held businesses advisory services in all phases of the transaction; from exit strategy planning, initial valuation, market analysis, packaging and marketing, qualification of prospective purchasers, negotiation, due diligence to post closing transition planning.

If you are motivated by personal accomplishment and desire an environment of
unlimited earnings capacity, then becoming a QBA Business Intermediary may be the best
career move you will ever make.

Quorum Business Advisors

Additional Information

Type:

Full-time

Experience:

Associate

Functions:

Sales

Industries:

Financial Services, Real Estate

Compensation:

Commission, six figure potential

For more information

Contact Us

The value of potential when selling your business

blue sky

The value of potential (blue sky) when selling your business.

One day two men were talking. The younger man Tom mentioned that he had just gotten married and thought it might be time to buy a house. The older man John asked him what kind of house he was looking for. Tom answered “three bedrooms, two bathrooms, a two car garage and a pool would be nice”. Immediately John clapped his hands together and with a broad smile said “I have the perfect thing for you – come follow me”

So the two men got in their cars and the younger man followed John until they turned down an unpaved road. There the older man jumped out of his car and with a flourish pointed to an overgrown empty lot and shouted. “There it is!” Puzzled the younger man said “but there is no house”. John answered “true – but it’s got POTENTIAL!”

I am reminded of this story when I speak to business owners who bring up the “potential” of their business. They will tell me that if a new owner just did this or that they could make so much more money. But the moral of this story is that if you want to be paid for it you must build it.

Just as Tom is not going to pay John for a house he has not yet built, a buyer is not going to pay a business owner for potential not yet realized. Business are valued for what they have done in the past. The potential belongs to the buyer. If you are considering selling your business in the future lets talk.

There may be time for you to build on that potential, so you do indeed get paid for it.

Anthony John Rigney is the Broker / Owner of Quorum Business Advisors, LLC and a Board Certified Intermediary. If you would like to know more about his services contact us

 

Business Broker as Transaction Broker

Transaction Broker

Business Broker as Transaction Broker

In the State of Florida business brokers are required to have a real estate license in order to sell businesses. Unlicensed activity is considered a third-degree felony and punishable by up to five years in prison. However, while we share the same license with realtors there is a key difference in how we operate. Most realtors work as “single agents”. This means that they can only work with buyer or seller not both and that they have fiduciary duties as well as the duty of loyalty to their client. business brokers on the other hand rarely work as single agents. Instead we choose to work as “Transaction Brokers”

As a transaction broker we provide buyers and sellers with a limited form of representation. Unlike single agency transaction brokers do not have a fiduciary duty and to not owe the buyer or seller loyalty. Instead our job is to facilitate the transaction. In this way we can expedite a business transaction by representing both parties.

We are in effect a neutral party. However, we still owe both parties limited confidentiality. This means for example that we are not allowed to tell the seller that the buyer will offer more or tell the buyer that the seller will take less without permission from the party in question.

The transaction broker has the following duties to both buyers and sellers.

1.  Dealing honestly and fairly;

2.  Accounting for all funds;

3.  Using skill care and diligence in the transaction;

4.  Disclosing all known facts that materially affect the value of real property and are not readily observably to the buyer.

5.  Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing.

6.    Limited confidentiality, unless waived in writing by a party. This limited confidentiality will prevent disclosure that the seller will accept a price less than the asking or listed price, that the buyer will pay a price greater than the price submitted in a written offer, or the motivation of any party for selling or buying property, that a seller or buyer will agree to financing terms other than those offered, or of any other information by a party to remain confidential; and

7.  Any additional duties that are entered into by separate written agreement.

 

Acting as transaction brokers allows us better assist both buyers and sellers of businesses which ultimately is to the advantage of all parties.

 

Anthony John Rigney is a Jacksonville based business broker and Board-Certified Intermediary (BCI). He is also the President of the North Florida district of the Business Brokers of Florida (BBF). If you are interested in buying or selling a business – contact Anthony today at www.904broker.com

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The Worst Negotiation Strategy Ever

 

Many years ago, I was in Mexico with my new wife. Along with other Americans we visited a local craft market where the craftsmen were selling their wares. These were hand made items and many of them exquisitely designed. Some of our party made a point to disparage the work of these men with the goal of setting a lower price. It was clear from the look in the men’s eyes that they were insulted and did not want to deal with these people. My wife took a different approach. When she found an item she liked, she picked it up. Admiring it she discussed the beauty of the work. The craftsman’s eyes light up with delight. Then she explained that she was on a tight budget and while the item was worth every penny he was asking she could only pay so much. Not offended at all the craftsmen accepted her offer with a smile. 

This was not a conscious negotiation strategy on her behalf. But intuitively she knew the right way to approach these men. If you are looking to buy something do not disparage the item to its owner. Whether it’s a business, home or some other item all you will succeed in doing is making them ill disposed to selling to you. 

I have worked as a business broker in Florida for over ten years. In that time, I have assisted in the sale of many businesses. The successful deals happen when buyer and seller build a rapport. The smart buyer does not insult or devalue the business in order to attain a lower price. Instead noting the good and bad he/she will make a fair offer and explain in a respectful way the logic of the offer. This does not guarantee a seller will accept the deal, but it will make it more likely that common ground can be found.

The worst negotiation strategy is to devalue whatever it is you are trying to buy. If you sit before a seller and run down the value of their property or product all you do is make them not want to sell to you at any price.

Being respectful does not mean you have to pay more than you want. On the contrary you will likely find that doing so will get you a better deal in the end.

Anthony John Rigney is a Jacksonville based business broker and Board-Certified Intermediary (BCI). He is also the President of the North Florida district of the Business Brokers of Florida (BBF). If you are interested in buying or selling a business – contact Anthony today at www.904broker.com

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SBA’s Preferred Lending Program

  Loan Application

When it comes to small business lending the most common route is the Government backed loan known as Small Business Administration (SBA) loan.

It is important to know that the SBA does not actually lend money instead it provides a guarantee which allows Banks to make loans for small business owners and business buyers that they might not otherwise make. Still the documentation requirements are exhaustive and the process can be time consuming.

While there are, many SBA approved lenders, you can help expedite the process by selecting a PLP (Preferred Lending Program) lender. Under this streamlined program, the SBA gives certain lenders the green light to make the final credit decision.

Non PLP Lenders must first process their own approval and then send the loan to the SBA for its final stamp of approval. A PLP designated lender, on the other hand, is able to underwrite and approve SBA loans, making the process much quicker.

Only the very best Lenders receive the PLP designation. It is only open to those with a proven track record of successfully processing and servicing SBA-guaranteed loans. Other factors considered include performance, loan volume, and a clear knowledge of SBA policies and procedures. By choosing a PLP Lender you can not only reduce the processing time for your loan but also greatly improve your chances of being approved.

The PLP designation lasts for a maximum of two years. Prior to recertification the SBA reviews a lender’s loans, policies, and procedures.

As a business broker, I strongly recommend that my buyers work only with PLP lenders. I have close relationships with some of the Country’s top Lenders and I am always happy to make an introduction.

To learn more about the SBA and PLP Lenders, visit the SBA website

Anthony John Rigney PA is a Florida based Business Broker, Board Certified Intermediary and member of the Business Brokers of Florida (BBF)

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Buying or selling a business is a complex process. Make sure you have the right team on your side. Contact us today!