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[…]
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,[…]
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,[…]
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,[…]
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[…]
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. […]