HOW TO WORK IN AN INCREASINGLY BILINGUAL WORLD
George Martinez, a Business Brokerage owner in Southern California, knew that he would have to change his business model almost 20 years ago. It happened less than a year into his business. “I sold a small restaurant to an entrepreneur from Mexico,” he recalls. “The guy was terrific and his English was great. He owned […]
CLOSING DEALS DURING LOCK-DOWN? IT IS HAPPENING!
A month ago, Abe Jenners, a veteran business broker from Georgia, was not terribly enthusiastic about closing deals during the Corona virus epidemic. He had deals come apart as buyers got skittish and businesses came grinding to a halt. “It has been very tough” were the words he used in a conversation in March. Now, […]
BUSINESS BROKERING IN THE TIME OF CORONA VIRUS
As a business broker of 15 years, Abe Jenners is accustomed to waiting. He says that is part of his life – waiting for buyers to make up their minds to buy; waiting for sellers to accept an offer; waiting for lawyers and accountants and landlords – it is all part of what he calls “the […]
Don’t Let Inventory Be a Deal Killer
London-based business broker Ian MacDonald loves to tell the story of his first deal – and how it almost came apart due to a simple misunderstanding. “I was selling a frozen food warehouse business located in South London,” he explains. “It was mildly profitable but my buyer wanted it because he needed space and workers […]
What is Excel Really Costing You?
A CRM (Customer Relationship Management) system is a software application package or suite that is designed to improve a company’s communication with customers and prospects. The most basic CRM systems generally target sales information, such as monitoring details for expenses, price data, as well as statistics for product revenue by location and market. These details […]
SPECIALIZATION IN BUSINESS BROKERAGE – PROS AND CONS
When Aaron Drucker, a business brokerage owner in eastern Pennsylvania, first got into the business in 2000, he met an eccentric older broker during a deal for a large diner in south Jersey. Aaron was representing the buyer in the deal. “So we go to a meeting at the restaurant, and as we sit down, the […]
CO-BROKERS AS ALLIES (AND ENEMIES)
According to Phil Pastorini, a veteran business broker in Maryland, working with other brokers is the best – and worst – part of his job. This is no exaggeration, he says. It is literally the difference between success and failure. “Business brokerage is one of the industries in which you want more, not less, guys […]
“CASTING A WIDER NET” AS A BUSINESS BROKER
When Lou Brill began his career as a business broker in 2002, he took his brand new stack of business cards and walked right into the businesses in the printer’s strip mall, giving them to the owners. He wanted an inventory of businesses to sell and why not start there? In fact, he reasoned, why […]
RUN, DON’T WALK: BAD DEALS, HOW TO SPOT THEM, AND WHEN TO GET OUT
Lou Brill has done over a hundred deals in his career as a business broker. Based primarily in New Jersey, he has sold businesses in New York, Pennsylvania, and Connecticut as well. He even keeps a map of his deals (identified by colored stickers) on his home office wall. He keeps another map on the […]
TIME KILLERS ARE CAREER KILLERS
Every winning business broker has different ways to success. Some go door-to-door to find businesses for sale or send out mail campaigns. Others go to conferences and community gatherings. Still others use contacts from their “previous lives” in other industries. Conversely, every unsuccessful business broker has their own pitfalls and traps. Just ask them. “We […]
