The Pros And Cons of Selling Your Business To An Outside Buyer in Orlando

The Pros And Cons of Selling Your Business To An Outside Business Buyer in Orlando

The Orlando Business brokers at Crowne Atlantic encounter a wide variety of businesses where their owners are looking to sell.  When analyzing a business for sale, business brokers in Orlando discuss different types of buyers that may have an interest.  There are industry buyers, those that are currently in the industry or have a great deal of experience in the industry, and there are also outside buyers which are buyers that are not currently in the industry of the business that they are looking at buying.  Often times outside buyers do not have any prior experience in industries they are looking into.  As always there are some Pros and Cons to working with an Industry Outside when selling your business in Orlando.  See below:

Pros:

1) Outside business buyers in the Orlando area typically offer business sellers in Orlando a higher price than industry business buyers.

While it is not 100% of the time Central Florida Business Brokers find that buyers that are industry outsiders pay more for businesses than industry buyers.  One main reason for this is that industry buyers may have the knowledge to start up a business from scratch using a fraction of the money needed to buy a business.  In contrast, an outside buyer might take years to accomplish the same start up and financially it might make more sense for them to purchase a business instead.

Selling A Business To An Outside Buyer in Orlando.

2) Everything is new to an outside buyer so they have to purchase the company to gain experience in an industry they are essentially buying into.

One of the reasons why outside buyers purchase businesses is because they lack the experience in the industry they are looking at entering. Often times buyers look at the seller with a bit of admiration of the great job they have done by growing their businesses into successful empires.  This buyer and seller relationship often makes for a friendlier transaction as outside buyers are likely to have more questions about the operations than criticisms.  This is because outside buyers will not have their own processes and procedures to compare to more likely to do what the business seller recommends.

3) Confidentially might be easier to maintain when marketing to Orlando business buyers outside of your industry.

Even when business brokers in Orlando have each buyer fill out and sign Confidential Nondisclosures and Buyer Profiles there are still confidentiality risks when selling a business.  If confidential information leaks out to outside buyers it is not as risky as when sharing sensitive information with a potential inside buyer who could potentially use that information for further competition.  Working with outside business buyers is a potential tactic business sellers can use to maintain confidentiality in Central Florida,

Branding Goes A Long Way When Selling A Business.

4) Outside Buyers can bring different sets of skills to the table. 

Outside buyers often have skill sets that can benefit the businesses they are purchasing.  Orlando and Central Florida business buyers are often experts in marketing, advertising, financing, management and communications.  At the same time many business brokers in Orlando will often meet with business sellers who feel their businesses could use more marketing, social media, and reaching out to customers in order to help grow their business.  With these issues in mind, an outside buyer bringing in a different take on everything could be just what an established business needs.

5) Outside business buyers in Orlando are more likely to keep the staff and the brand. 

There are a lot of business owners who have loyalty to their employees and feel that their company brands are superior to others.  They want a buyer who will continue the legacy, the name, the brand and continue to employ their employees who have been loyal to the business this whole time.  Many wish that their employees would be able to purchase the business, but their employees do not have the funds available. So the next best thing a business seller can do in Orlando is to find a buyer who will allow current employees and managers to stay on and keep the branding and the work environment the same.

Cons:

1) Sometimes it is tougher for a business seller to convey the true value of their business to an outside business buyer in Orlando who does not understand the industry.

 

This issue can often occur when a business buyer is more interested in cash flow than they are technique, quality customers, and company culture. For example, business owners that have patents for the products they sell can run into an issue on value.  Their patent may have some additional value to those in an industry but an outside buyer may feel a company’s value is reflected better by it’s cash flow.

Restaurant and Bar Business Brokers in Central Florida.

 

2) Depending on the business, obtaining financing, licensing, and the knowledge to operate the business might be too difficult for an outside buyer to accomplish.

Outside business buyers might have more difficulty following through on transactions without experience.  Banks and landlords are typically more accommodating with business buyers that have experience in the businesses they are buying.  Restaurant buyers without experience for example are likely to find more difficulty with landlords and SBA bank financing when looking to buy restaurants or bars.  This is more due to industry norms than the individual buyers.  Both landlords and banks typically have experienced more payment defaults in the past from businesses in these industries so they express there is a higher risk factor when working with these industries.

3) The process of training and familiarizing outside buyers with the processes and procedures of a business might be much more difficult and time consuming than familiarizing an industry buyer with the business.

 

This one might go without saying, but training someone from the ground up might take more time and effort. Business owners might feel that a higher purchase price makes the extra effort on familiarization worthwhile.

Sometimes it is the businesses that are slightly dirty that are the most profitable.

 

4) Outside business buyers in Orlando are less likely to overlook the drawbacks of a business.

Many industries have certain drawbacks that those in the industry just accept and they deal with them.  Buyers who have never worked in those industries before may not be able to glance over those drawbacks as easily. Potential industry drawbacks may include high-employee turnover, high insurance rates, the need for excess working capital or lack of customer contracts set in stone.  Some industries are just not physically clean or dangerous such as scrap metal yards, construction businesses or tree services.  For example, there are industries that are notorious for high employee turnover.  For example, businesses with rough working conditions can be vulnerable to high-employee turnover and it might be unavoidable.  Industry buyers are likely to accept these conditions and outside buyers may have a tougher time accepting them.

5) A business seller’s employees, customers, and vendors may not respond as well to an outside buyer verses an industry buyer.

While we do not see this happen in Orlando and the Central Florida area when buyers looking to purchase businesses, there is a possibility it could be an issue. Depending on an industry, outside buyers may have more difficulty relating to a business’s customers, employees, or vendors. To counter this, many sellers spend extra time with business buyers making introductions to everyone involved in the process. These measures are often a huge assist and advantage for the buyer and it is this familiarization that helps justify purchasing the business.

To check out our Orlando Business Selling Article on The Pros And Cons of Selling Your Business To An Industry Buyer in Orlando click on this link: The Pros And Cons of Selling Your Business To An Industry Buyer in Orlando.

If you are looking to buy or sell a business in Orlando you can reach us by clicking on the contact us button or phoning the Orlando Business Brokers at Crowne Atlantic at 407-478-4101.

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The Pros And Cons of Selling Your Business To An Industry Buyer in Orlando

The Pros And Cons of Selling Your Business To An Industry Buyer in Orlando

One of the main topics discussed when business brokers in Orlando first meet with a potential business sellers are the types of buyers buyers that might be interested in buying their business.  At Crowne Atlantic we typically talk about the advantages of working with an Industry Buyer verses and Outside Buyer.  Industry buyers are those with experience in the industry due mostly to work experience, family or business ownership.  In contrast Outside Buyers typically have very little exposure or experience in the businesses they are looking to purchase.  In this article we are going to discuss the Pros and Cons working with an Industry Buyer.

Crowne Atlantic Business Brokers in Orlando typically discuss these scenarios when we work with business sellers to help fine-tune the marketing approach for when seller is ready to sell their business.  See below five pros and five cons to working with an industry buyer when selling your business in Orlando and Central Florida.

Pros:

1) An industry buyer will better understand of the value of buying the business.

When we say value, we’re not just talking about price.  Value also refers to the non-monetary assets and benefits of a company.  Our business brokers in Orlando recently sold a company that had constructed a database of 5,000 potential customers complete with emails, names, and the correct contact decision maker.  Does that list have a direct monetary resell value?  It did, but not necessarily to a buyer not familiar with the industry.  Would this potential customer information list be valuable to an industry buyer?  Absolutely!

Restaurants in Orlando are often bought by buyers with some kind of restaurant experience.

2) The training and familiarization period could potentially be easier and shorter with an Industry Buyer verses an Outside Buyer.

One can imagine that if they are selling a business to a buyer that is already in their industry that the transfer of power might be easier.  When selling a healthcare business in Orlando, it might be easier to sell to a buyer that currently owns a healthcare business and is already an approved licensee under the Florida department that oversees healthcare.

Millwork businesses in Florida are purchased by both outside and industry business buyers.

3) Industry buyers can often incorporate the company’s current infrastructure to excel both their company and the one they are buying.

If a Millwork business purchases another Millwork business in Orlando it might increase the work capacity of both businesses allowing both the business, it’s employees, and current owner to grow. Both companies could advance and make more money.

4) An industry buyer could potentially give the seller of the business an opportunity to stay and work for a while before officially retiring.

Some business sellers want to just slow things down, but not stop working entirely.  There are industry buyers and even those who are outside buyers that want sellers to stay.  A perfect example of these buyers are equity companies.  After all, an Industry Buyer could be a person or another company buying in Orlando.  Equity companies looking to expand will often times ask the business seller to stay on run things for them locally while they working growing the business on a more statewide and perhaps nationwide level.  This can offer business sellers the time and the space to advance financially while having assistance and resources to run and grow their business.

Banks do like to see some kind of experience when buyers are looking to purchase a business and seeking funding.

5) If the business transactions involve strict licensing to operate, bank financing, difficult landlords, or demanding customers an industry buyer might be a business seller’s best and only option.

For some businesses, an Industry Buyer is the best and only choice an Orlando business seller has.  While a plumbing business in Florida does not require a license to own, it does require a plumbing business to operate under a person’s plumbing contractor’s license. If a business requires a license to operate, banks might choose not to finance business buyers unless they possess that licensing.  Landlords can also be difficult to deal with if a potential business buyer has no experience in the business they are buying.  For example, there is a large fine-dining restaurant on the market where the landlord stated that a buyer/ new tenant will only be accepted if they have fine-dining experience.  This hurdle does limit the amount of business buyers in Central Florida that will qualify.


There are also the Cons of selling a business in Orlando to an Industry Buyer. Lets take a look at some of the Cons below:

Cons:

1) In the Central Florida and Orlando area many industry buyers do not always pay as much for businesses as Outside Buyers.

This can easily occur with service businesses where the bulk of the assets being sold are customer bases that could easily continue as business customers or potentially leave if they do not like the new business owner.  An Industry Buyer might not value these customers as much as a business buyer who is trying to get into the industry and using their business purchase to do so.

Business Brokers in Florida always keep strict confidentiality when selling businesses.

2) Keeping confidentiality with Industry Buyers might be more difficult and risky for the business seller.

If a business owner is looking to sell to an Industry Business buyer in Orlando it means that they have to disclose their name and ultimately some details about their operation to potential competitors.  While business buyers working with business brokers in Orlando always sign confidential Nondisclosures prior to receiving information, there can always be a slight chance of a confidentiality breach.  One way to completely avoid this scenario is by having a business seller clear all of the names first prior to releasing information to them.  This is a simple tactic but it works.

3) A business seller might dislike or distrust other competitors in the industry and might want a buyer from outside the industry.

Some potential business sellers in Orlando do not want any industry buyers to know they are even for sale.  After all, Orlando and Central Florida can be a small community for some industries where everyone knows one another.  There are some business owners who my say, “I want to sell my business in Orlando to someone outside of my industry.”

Selling companies in industries such as boat manufacturing has pros and cons to both industry and outside buyers.

4) Industry buyers might try to make drastic changes in a business they purchase.

While outside buyers are more likely to leave everything as is, an experienced industry buyer might make a lot of changes.  They might switch everything to their own processes and that could potentially frustrate employees and a business owner used to their own ways and methods creating potential headaches for everyone involved.

5) Selling to an Industry Buyer can make the potential pool of buyers much more limiting.

If Orlando business brokers at Crowne Atlantic work with businesses that are extremely large and require special licensing such as a roofing businesses or an electrical companies.  Selling to only to Industry Buyers does limit the pool of buyers.  Not having proper licensing can affect a buyer’s ability to obtain Bank/ SBA financing.  While buyers could still pay cash, there are only so many business buyers with the licenses or the capital required for certain deals.

As Orlando Business Brokers servicing the Central Florida and Greater Florida area, we typically have to examine both the pros and cons of both types of buyers.  We can do the same for you!

For more information on The Pros And Cons of Selling Your Business To An Outside Buyer in Orlando click on this link below:

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The Pros And Cons of Selling Your Business To An Outside Buyer in Orlando

If you’re looking to potentially sell your business in the Orlando or Greater Florida area give us a call and we can help you evaluate your business. Our number is 407-478-4101 or check out our website at www.crowneatlantic.com.

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Selling a Small Business In Orlando, Florida

Selling a Small Business In Orlando, Florida

As well-known business brokers in the Orlando area we get approached often by friends, friends of friends, and sometimes complete strangers asking us about selling businesses in Orlando. Many of the questions include, but are not limited to:

1) Do you think anyone would like to buy my business?

2) Do you think my Orlando business would be sellable?

3) Is there anyone in Orlando searching for businesses that are selling?

4) What do you think my business is worth if I wanted to sell my business in Orlando?

5) What are buyers looking for when they look at businesses for sale?

6) Do you have any businesses for sale in the Orlando area that we should be looking to buy?

Selling A Small Business In Orlando

The answers to all of these questions are very simple because the reality is there is typically a person for every seat! One of things that we as Orlando Business Brokers say all the time, “if the business makes money, it is worth taking a look at it.” Many small business buyers in the Central Florida area take the same approach.

Would Anyone Like to Buy Your Business?

Ultimately most buyers want a good business to purchase plain and simple. There are a number of reasons why people would prefer to buy a business in Orlando instead of starting from scratch. Many business buyers flat out do not have the time, confidence, patience, money or the know-how to build a business up from scratch. If business buyers in Orlando can find a good business to purchase that is already established, this can be a better play for them in the long and short-run.

Is Your Business Sellable?

Our answer to the business sellable questions are that most businesses we see are sellable for at least something. Amazingly we meet with potential business sellers all the time who do not realize their business can be sold, even though it is profitable. Bottom line, if the business is profitable and makes money, it is worth speaking to a business broker in Orlando about it. Most business brokers in Central Florida do not charge any upfront fees to speak or meet with potential business sellers and with the right information can sometimes give business owners an idea of the value of their business. If a broker does charge an upfront fee for a valuation in Central Florida, then perhaps you should meet with a business broker in Orlando who does not first. Some business brokers sell valuations for up to $40,000. Why spend the money when you can get the same information for little to no cost from a better, more qualified local Orlando Business Broker? Most business brokers in the Florida area work on a performance-based fee system with little to no upfront money.

Are there business buyers in Orlando searching for Orlando-based businesses for sale?

There are always buyers searching for businesses for sale on the Orlando Business For Sale Marketplace. If a deal is good and priced right, there are typically potential interested business buyers.

What is my business worth if I were to sell my small business in Orlando?

Valuations unfortunately are not as scientific as they can be when leasing or selling real estate. Valuing businesses always seems to be more of an art than a science. Most small businesses sell based on a factor of seller’s discretionary earnings or cash flow. Business Brokers in Florida call this cash flow number an owner’s benefit. Most small business buyers in Orlando and Central Florida are hoping a return on investment (ROI) that can justify that they are better off purchasing a business than starting from scratch. Valuations vary depending on the business, but most seasoned business brokers in Orlando can give business sellers an idea once they have some key information.

Selling A Small Business in Orlando, Florida

What are buyers looking for when searching businesses for sale in Orlando?

Most buyers want businesses with good books and records, a clear business structure that they can follow and feel they can manage and an ROI that makes financial sense to the point where buyers want to move forward with a purchase offer.

Do we have businesses that current business owners want to purchase?

All the time! In fact, many of our best customers are business buyers who own multiple businesses in the Orlando, Central Florida area and other areas.

For more information on selling a small business in the Orlando or Central Florida area call the Orlando Business Brokers at Crowne Atlantic at 407-478-4101 or check out our website at www.crowneatlantic.com.

We also sell businesses in Orange, Seminole, Osceola, Polk, Brevard, Marion, Volusia, and Lake Counties.

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Orlando Business Brokers Get Higher Premiums For Business Sellers In Greater Orlando Area

Orlando Business Brokers Get Higher Premiums Than Others When Selling Businesses in Orlando.

Did you know that Orlando Business Brokers can get higher premiums for Central Florida businesses over outside area brokers? If there’s one thing business buyers will pay an extra premium for it is location. Business brokers working in the Central Florida and Orlando area understand the concept of Orlando being a great location for business. So much so that we outperform business brokers who are located outside of the area.

Location

Just like in real estate location does matter to a degree. It’s not that buying a business for sale in Orlando isn’t all about the financial numbers. It is! At the same time if a buyer sees two different manufacturing facilities with similar financial numbers, they will probably opt for the manufacturing business is for sale in the Orlando area if the other one is located elsewhere. The buyer might even pay a premium. Why? What makes Orlando so special? What is it that the outsider business brokers do not understand?

Orlando-based Business Brokers

The majority of Orlando Business Brokers at Crowne Atlantic are native to the Orlando and Central Florida area and we understand what the brokerages that operate nationally and out-of-town and out-of-state do not. They do not see the appeal to the area in addition to all of the advantages.

Local Strategy For Selling Central Florida Businesses

As local Central Florida business brokers and business owners ourselves we interact with other business owners in the Greater Orlando community. We interact with all sorts of business buyers for all kinds of businesses for sale on the Orlando Business For Sale Marketplace. That gives us an advantage over outsider business broker agents because often times business buyers are focused more on a business opportunity with the right numbers in a great location over a business opportunity in a specific industry. This gives the Orlando Business Brokers at Crowne Atlantic a huge strategic advantage because business buyers searching for businesses in the Orlando area will phone us on multiple business opportunities spanning different industries. After all, these business buyers want to ultimately live and have access in the Greater Orlando and Central Florida area. Take your pick as to the specific reasons, it could be related to work, travel, schools, family, location, or travel.

Orlando Restaurant For Sale Specialists

Business Selling Premiums In Orlando

Because of these benefits there are many businesses selling in the Orlando area that can get a premium when they sell. That is because there are only so many businesses for sale in the marketplace. You want to go with a business broker in Orlando that understands that market to make sure that a business opportunity in Orlando is priced correctly. You also want a broker that understands people prefer a business in a great location than an even greater business in a not-so-great location.

Selling A Business In Orlando

That is why when selling a business in Orlando your best advantage is to find an Orlando-based business broker that can offer business buyers options, especially if you have a business that’s hard to categorize. You want an Orlando business broker that can explain to a business buyer what your business does, why it’s a great deal and why a business buyer should purchase it. A business broker that simply takes on as many listings as possible to claim they have more listings than anyone simply won’t do because they will not have the time to give the attention that your business requires to sell.

Manufacturing Companies Located in Central Florida are extremely popular with Business Buyers.

If you’re looking to sell your business and your business is located in the Greater Central Florida area, contact us at 407-478-4101.

We have business broker
brokers networking and selling businesses in Orange, Seminole, Osceola, Brevard, Marion, Lake, Volusia, and Polk Counties.

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Due Diligence Items That Business Buyers Want To See When Buying A Business in Orlando.

Due Diligence Items That Business Buyers Want To See When Buying A Business in Orlando.

As business brokers servicing the Orlando area we come across all kinds of record keeping habits when business owners are looking to sell. Fortunately businesses for sale in Central Florida are typically much more current in record keeping practices and have incorporated more technology into their operations. Occasionally when we speak with owners that are looking to sell businesses in the Orlando area we still encounter handwritten booklets with sales numbers but we do not encounter as many as we used to.

In the Florida area, the process of due diligence in typically takes place after a purchase offer is accepted from a buyer. Business buyers take this time period to explore everything about the business. It’s a learning process as well as an inspection process. It’s a very common process when selling a business in Orlando or the Florida area. Business sellers should not look at the process as an issue of trust. Because it’s not always about trust. Sometimes there are legitimate mistakes in financials that buyers need to find and the sellers have no idea. Ultimately these discoveries benefit everyone involved.

Often times business owners putting up their businesses for sale are told that potential business buyers will want to see their current profit and loss financials and their last three years of tax records.

The reality is these are the documents buyers want to start out with and there are way more items buyers will ask to see. Often times these documents are asked for during due diligence but occasionally on a more complicated transaction when more evidence and information is needed they are requested before a purchase offer. These items including documents such as bank statements, state filing forms, point of sale records and often times a buyer’s accountant will ask to see a business seller’s whole Quick books file. To offer a little more detail on these documents, we will examine them a little closer and go over why buyers want to see them. Remember that when selling a business in the Orlando area business owners should expect that business buyers, their accountants and potentially their lenders will want to see the their company’s financial records. For example, requests for profit and loss statements typically do not end with just a current year profit and loss statement. Many buyers request profit and loss statements for each of the previous three years and will often ask for balance sheets to match up for those three years.

Business buyers will also ask for current year bank statements and bank statements from the previous year and possibly the year before that. Business owners should not be alarmed as this is a very common practice. If business sellers do not keep a binder that stores each month’s bank statements they should prepare to fill out some request forms and possibly pay their bank to furnish them with monthly bank statement forms from beyond a year or 18 months prior because many banks do not grant their customers much more historical data than that online. Accountants and buyers use bank statements to match up the monthly earnings to the monthly bank statements. If the money showed being earned and being spent on the monthly profit and loss statements does not match what is being shown on the bank statements expect an email or a phone call.

Point of Sale (POS) system reports and credit card statement reports are also huge items on due diligence lists for buyers especially if a business is a retail business or heavily dependent on customers paying by credit cards. Not only do buyers match up these numbers to those on the profit and loss statements and tax records it helps them establish fixed costs for the business. For example, what is the merchant rate the seller is currently paying and what POS system is the seller using, what are the maintenance fees and what are their payment fees if it’s not yet paid off.

A number of government document financial forms are also requested by buyers. The major ones are 1099’s and W2’s, however many buyers ask for 941’s (quarterly tax filings) and DR-15’s which are sales tax filings in Florida. Business Buyers use these forms to back up the business owner’s reported earnings. Some times everything is reported correctly and sometimes there are mistakes, errors and on rare occasions there are some wrong doings found. Even closing attorneys have gotten in on the due diligence action and ask some businesses to obtain sales tax clearance from the state verifying that they have paid their sales tax up until that point and the buyer will not be incurring this tax.

All of these documents help business buyers not only verify the performance of the business they are about to buy but it helps them understand the business better as well. Business owners looking to sell their businesses should not feel insulted or doubted because buyers ask for these documents. After all it’s nothing personal, it’s simply good business. It’s the same as asking for a receipt from someone when you make a purchase. If there’s a mix up that receipt can come in handy.

Having all of these documents available while it may take a little extra work, it will make for a very happy business buyer. Why is that important? Because businesses that keep better and more organized financials sell for way more money, they sell quicker, and they help buyers qualify for bank financing which often also leads to higher purchase prices for businesses for sale in the Orlando and Central Florida area.

For more information on selling your business or buying a business in the Orlando or Central Florida area call the Orlando Business Brokers at Crowne Atlantic at 407-478-4101 or check out our website listing businesses for sale in Florida at www.crowneatlantic.com

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When Is The Best Time Of Year To Sell My Business In Orlando?

When Is Best Time Of Year To Sell My Business In Orlando?

As business brokers working in the Orlando area for close to two decades, business owners ask us when is the best time during the year to sell their business.  It’s an excellent question.  When should a business owner looking to sell put their business on the business for sale market?  While there are some periods that are busier than others, the reality is that if a deal is good it could find an interested buyer at just about any time of year.

In the past it was generally thought that the busy times of the year for the business brokerage industry in the Orlando area was January through March or January through May and then in the fall things would pick up in late September and October and November before Thanksgiving.  Historically transactions and business brokerage interaction slow down during the summer months June through August or before school sessions start and after the Thanksgiving holiday to December.

Things have changed however ever since people have better communications through email, phones and computers and are able to receive information whether they are.  Whether people are on a vacation in China or they are taking a week off from work, they can receive information on businesses for sale in the Orlando area.  Besides the Orlando area and the Central Florida area is located in warm climate where business for sale deals are transacted year-round.  We never have cold hibernation periods so business deals and real estate deals occur year-round in Florida.

The schematics of how a business is put together however still applies. The business brokers at Crowne Atlantic can sell businesses in Orlando at any time of year, but business sellers have to be ready with their most up to date information in order to get the best price.  Having all of the up to date information from the current year available and from previous years will help a business seller get an offer on a business during just about any time of year.

This information includes:

1) Financial records from the current year (year to date)
2) Financial records from the previous three years in business, or any previous years that apply
3) Information on the lease for the business premises or property for sale
4) An Equipment and Asset list

Financial records help buyers understand businesses and add to their confidence in purchasing.

The financial records that buyers ask for typically include tax records, profit and loss statements, and balance sheets.  When a business owner has these financial records available it makes selling a business easier, quicker, and less dramatic because buyers feel much more comfortable that the business is a smooth-running system and they feel that running system of business will continue after the transaction occurs.

Business buyers ultimately want to purchase good businesses.  No matter what time of year it is in Orlando, business buyers are typically up for a transaction if the deal is right.  Business sellers just have to make sure they have everything ready if they want a deal to go quick and smooth.

If you or someone you know is looking to sell a business in the Orlando area at any time of year, have them call the Orlando Business Brokers at Crowne Atlantic at 407-478-4101 or check out our website at www.crowneatlantic.com.

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The Differences Between Florida Liquor Licenses, 4COP, 4COP SRX, and 2COP

The Differences Between Florida Liquor Licenses, 4COP, 4COP SRX, and 2COP

Selling a restaurant or bar with a liquor license can be a huge advantage for a business seller. It does however add an additional element to a business sale transaction that both business buyers and sellers need to be aware of. In the state of Florida there are multiple levels of liquor licenses and at the county level zoning requirements can add additional restrictions. One of the reasons people like to buy a restaurant or bar that is already established in the Orlando area is that most of the guidelines and restrictions have been accounted for and have already been implemented in these facilities.

This is not always the case however, so both buyers and sellers need to always do their research to double check, especially business buyers. We are going to go over three of the basic kinds of licenses in this article. The 2COP, the 4COP and 4COP SRX liquor licenses. COP stands for Consume on Premises.

The 4COP Liquor License in Florida

To simplify the differences, lets just say that the 4COP license is the one you can purchase from someone and transfer to another location. The 4COP is a liquor license is the one that offers an owner the ability to sell any kind of liquor, beer, or alcohol. The state normally runs a lottery every year where you can apply to be apart of the lottery and potentially win a liquor license for a certain Florida county. Unfortunately they only award a few per year, per county. That means everyone else who wants to start up a full-liquor bar has to buy one from someone else. These 4COP liquor licenses range in price depending on the Florida County they are in. They could be as low as $20,000 or over $400,000 depending on the county. These values are almost purely based on market rates as there are no government regulations to currently govern the pricing structure. Liquor licenses do however seem to hold their value to the point where private parties and sometimes banks will finance a liquor license purchase for a buyer.   It’s always important to be certain of what type of license a business has before transferring the business.

The 4COP SRX Liquor License in Florida

The 4COP SRX liquor license is also a full-liquor license but the key difference is that this liquor license must stay qualify with the current space or facility. It cannot be transferred to another space. The upfront cost difference is huge however because these licenses can be purchased for under a couple grand and are renewed for close to the same amount each year. To qualify however, restaurant facilities need to hold and be permitted for at least 150, sometimes more depending on the area. These businesses also need to show, when asked by governing agencies, that they are selling more food than alcohol. The 4COP SRX is sometimes informally referred to a “liquor license with food.“ While the upfront cost of the liquor license is less expensive, the size and scale of the restaurant facility is much larger than a smaller bar so utilities, rents, and build-outs are much more costly. Zoning and ample parking can also be issues one might need to contend with.

The 2COP Liquor License in Florida

The 2COP license is most commonly referred to as a “Beer and Wine” license. It is essentially a license that allows a business to serve beer and wine. The business can be a restaurant or it can be a simple bar and serve no food. Many smaller restaurants and bars have this license. It’s the most economical way to serve alcohol. Typically the cost is minimal and the license needs to be renewed every year.

Now that you have a basic understanding of these liquor licenses it will help you understand operations. There is much more to know about these liquor licenses in the state of Florida and when looking to sell or purchase a restaurant or bar in the Florida or Orlando area it helps to consult local professionals.

For more information on restaurants and bars for sale in Orlando and the Florida area contact the Florida Business Brokers at Crowne Atlantic at 407-478-4101 or check out our website at www.crowneatlantic.com

As always if you know someone looking to sell a bar in the Orlando area call Crowne Atlantic Business Brokers at 407-478-4101.

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The Native Orlando Business Broker – The Advantage of Location

Using an Orlando Business Broker actually from Orlando gives you a huge strategic advantage.  It’s the advantage of location.
How many Orlando Business Brokers can say they were originally from Orlando?  At Crowne Atlantic Business Brokers, our key partners are natives of Orlando.  We know the layout and the history of the land better than other Orlando Business Brokers. This is a key element when choosing to sell your business in Orlando because very few business brokers can convey to buyers the history behind the specific areas they are buying in.

Knowing the history and nuances of the Orlando and Central Florida market helps our Orlando business brokerage articulate the future of each area as well.  This becomes important when looking to sell businesses to buyers who are typically only familiar with a few areas of Orlando.

How important is incorporating a business’s geographic location into marketing a business for sale?  It’s critical!  Contrary to what buyers might say, selling a business in Orlando is not just all about the numbers.  Business buyers will use financials to help price a business, but those results alone will not get a company sold.  Buyers may say things like, the business is too far from where I want to be or I do not like the area, but often times they are simply not familiar with the areas to begin with.  Business brokers with the knowledge have to point out the benefits to buyers to make sure they have all of the information.  Just the geographic location of being in Orlando is why many companies in Orlando sell verses similar businesses in other parts of the country.  Pick an industry, any industry and it’s likely that companies will pick an Orlando-based company over most cities in the Midwest, West Coast or even the Northeast.  There are only so many businesses to choose from however so if a business is for sale in a lesser known part of the Orlando area, the benefits of each area and along with the business need to be brought to a buyer’s attention otherwise buyers may glance over these advantages.

Business buyers like Orlando because it is a growing city with lots of opportunities.  Unlike other cities that have a business climate that tends to keep newcomers out, Orlando has an extremely welcoming city climate that is friendly to new businesses and new business owners.  We have a huge tourism industry, a tech industry, and a large service-based industry.  As the premier Orlando Business Brokerage, we bring our knowledge to the table to help people sell their businesses in Orlando and the surrounding areas.

 

If you want an Orlando Business Broker with the in-depth experience of business sales and business in Orlando call Crowne Atlantic Business Brokers at 407-478-4101.

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Top 10 Things For Selling A Business to Foreign And International Buyers In Orlando

Top 10 Things To Know When Selling A Business In Orlando to Foreign And International Buyers.

After listing and selling hundreds upon hundreds of businesses sellers still ask us if we work with foreign or international business buyers. We do! It’s a common question in the Orlando and Central Florida area because we get millions of visitors a year and everyone always seems to be from someplace else. While we do not always know their rationale, we always get the impression that business sellers feel it might be an easier sale or that an international buyer will pay huge premiums for a business. Many of the notions and rumors out there might not be true so we felt it would be good to the list the Top 10 Things To Know When Selling A Business To Foreign And International Buyers In Orlando. This can help business owners sell a business in Orlando or the Greater Central Florida area.

Below are some things to keep in mind when putting your business on the business for sale market geared toward international and foreign buyers:

1. Practically all foreign and international business buyers are seeking to get some sort of investor’s visa by purchasing a business whether it is an L1 Investor’s Visa, E2 Investor’s Visa, or other type of visa.

This means that they need to meet the qualifications for getting an investor’s visa. While the right business plan or a buyer with a great deal of assets behind them, you will find that most foreign business buyers will be working with immigration attorneys. Most of these attorneys will mention that they would like to see a business that has clean books and records showing profits and a business that employs two or more employees on the books. U.S. Embassies in each county go by slightly different standards and while they are not set in stone these are pretty basic rules of thumb that seem to work. The more on the books, the better the business looks on paper, and then the better it looks for the buyer’s investor’s visa application.

2. Foreign and International business investors in Orlando want a legitimate business just like American domestic buyers, so not just any business for sale will work.

In fact, most foreign buyers look for the same things in an Orlando business for sale that domestic American buyers look for in a business. Good books and records, an easy to understand operation, well-located facility in addition to a transferable business system. Perhaps five percent of foreign business buyers in Orlando might be okay with a weak unprofitable business operation if its super, super cheap just to get their visa, but it’s a rare occurrence more and more. Most foreign and international business buyers in Orlando want a documented and legitimate business system to purchase.


3. Books and Records still matter to foreign and international buyers.

If you are not reporting your revenue or profits correctly, you will not be able to sell your business easily to a foreign or international buyer in Orlando (or even a domestic buyer). Keep in mind that these buyers already have enough to worry about with the expense and learning curve that comes with moving to a completely different country. They do not want to worry about a business that may or may not be making what the business seller states. Also keep in mind that many countries including those in Europe are far stricter on businesses and do not allow business owners to make many multiple deductions or take money off the books. Since many international buyers are business owners in their home countries, they simply are not accustomed to record keeping where most of profits are hidden or not reported.

4. Lack of credit history, lack of social security numbers, and lack of assets in the U.S. can make it more difficult for some foreign buyers coming to Orlando to obtain leases, lease assignments, vehicles and other types of a credit a business might require to operate.

Foreign investors will not have all of the resources that domestic business buyers have access to. No credit history means it will be difficult for foreign buyers to buy inventory on credit or do any kind of factoring or financing extra vehicles. Another scenario that often occurs in Orlando is that a foreign business buyer in Orlando might be required by a landlord to put down a much larger deposit than a domestic buyer due to a landlord deeming them a higher risk. For example, a domestic buyer might have to put down two months worth of rent for a deposit and a foreign buyer might be required to put down four months worth of rent for a deposit in order to rent the same space. Credit lines and equipment purchases with financing is also more difficult for foreign buyers so if an owner is looking to sell a business to an international buyer it would be best to address these issues from the beginning. If the business is hard to run without credit, then this issue needs to be taken into consideration when marketing the business for sale.

5. Foreign and international buyers often do pay all cash for businesses they purchase.

This can be a huge bonus for a business owner, especially in circumstances where a business will not qualify for SBA bank financing. While most foreign investor visa business buyers pay cash, some owner financing from the seller is still allowed depending on the deal. Our sources tell us, up to 25% financing is allowable however, it depends upon the investment level of the entire deal. We have seen these instances successful in transactions with a purchase price of $300,000 and up. However, the seller must agree to the owner financing terms which are not always acceptable to business sellers. Domestic Buyers can obtain small business loans (SBA) and therefore can offer all cash to a Seller which is more attractive.

6. There is not bank financing available for foreign and international buyers.

In many cases, the cash that a foreign buyer has available is the cash that they have. Unless it is a piece of property that can collateralize the whole purchase price, business financing for foreign business buyers is nonexistent either from an American bank or a foreign bank. You may encounter business buyers from other countries like Canada claiming their banks will finance a business purchase, but how would that even work? Most American banks will not finance business purchases so claiming a foreign bank without the benefit of American laws backing them is unlikely. Financing businesses is not the same as financing real estate where a bank would have immediate collateral to take in the event of a default, most banks require SBA backing to finance a business purchase and these benefits are not available to foreign investors.

7. Many Business Brokers will claim that they deal with a lot of foreign buyers, but you really want a business broker that markets to all business buyers both foreign and domestic. You never know which type of Buyer will offer you a better deal, so why limit yourself to just one buyer segment?

This is especially important when it comes to selling larger businesses in Orlando because American domestic buyers are the ones buying larger businesses here. A foreign buyer interested in a $2 Million business would need to come in with almost all cash. While these buyers do exist, how many of those buyer do you think are out there hanging around? There are many more American domestic buyers available because often they can obtain bank financing with as little as 20 percent down. This expands the pool of potential buyers for the business seller. As a Seller, you want your pool of business buyers to be as large as possible.

8. Foreign and international buyers might only be looking to buy the bare minimum business purchase to qualify for an investor’s visa.

This is more of a recent phenomenon within the last decade. While we have plenty of foreign and international business buyers in Orlando, many are looking for smaller businesses just large enough to qualify for a visa. This means that if you have a large business, one valued at $500,000 or more you might be looking at more domestic buyers, corporate and equity buyers.

9. Location matters to many foreign and international business buyers in Orlando.

This does not mean that if you’re selling a business in a rural portion of Orlando or Central Florida that a foreign buyer will not purchase it, it just means that you might have to work much harder to market the business to this segment of buyers. Many of the foreign and international business buyers in Orlando are easily exposed to the Disney and other tourist friendly areas that have a lot of vacation homes and large international populations. They have not thought to look for businesses for sale in Lake Mary, Oviedo, Winter Park, Winter Garden, Maitland, Altamonte Springs, Ocoee, Sanford, and many more. However, once these areas are pointed out to them, many might choose to live in other parts of Orlando and Central Florida depending on the business they find. These areas have to be brought to their attention though and many foreign buyers will purchase homes first without thinking about where the business they purchase will be located. If your business broker only markets to foreign buyers, the location of your business could be an issue. However if you have a great business and a great business broker that markets to all buyers you can sell your business in Orlando to most business buyers foreign or domestic for a good price.

10. Foreign and International buyers do not overpay for businesses for sale in Orlando.

The notion that buyers from another country will pay obscene amounts of money for a business that does not warrant that value seems to be the biggest myth and rumor that business brokers in Orlando will encounter when selling businesses. That being said, there are brokers that use this rumor all the time to get listings. The reality is that foreign buyers might pay a premium for a business, they might pay all cash and they might be slightly easier to close a sale with if a buyer has a limited time to search for businesses while in the country. However, it is important not to exaggerate these scenarios because foreign buyers still will not grossly overpay for businesses and the amount of foreign business buyers that actually follow through with a business purchase is small so you’re better off marketing your business to all types of potential business buyers. Remember that just because business buyers are from another country does not mean they do not have access to information. These buyers have the Internet, they can do research and many own businesses in their home countries and they are not easily fooled. So, if you want to sell a business in Orlando to a foreign or international buyer the selling price still needs to be reasonable enough to the degree that it would attract an American domestic business buyer. Otherwise the business will not have much appeal to a buyer from out of the country either.

There are always lots of different options when one is looking to sell their business in Orlando. If you’re curious and wondering, how can I sell my business in Orlando or Central Florida ….. call us at 407-478-4101.

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Top 10 Tips to Selling A Business In Orlando and Central Florida

Top 10 Tips to Selling A Business In Orlando and Central Florida

Good record keeping is important when looking to sell your in business in Orlando Florida for the highest price.

1) Keep good books and records; or you might pay for it by getting a lower price!

Orlando attracts thousands of buyers each year. All Buyers want to see good books and records. Businesses that have solid books and records have a better chance of a buyer obtaining bank financing backed by the SBA.

Yes, there are foreign buyers out there. They too want to see good books and records because if they are looking to obtain an investor’s visa: either L1, E2 or EB5. Those immigration attorneys and the U.S. Embassy will require your business’s records to process the investor’s visa.

Most buyers will have accountants examining the business’s financial records. At the same time this information will help the incoming buyer understand their new business.

*If you choose not to show all of the money, this will result in a lower purchase price and your business may not qualify for bank financing. That might lower the price even more.
*Also, have current financials and tax returns available. And if you don’t, then get a new accountant. Your accountant works for you!

2) Orlando is almost always in SEASON!

Yes, Orlando like many other cities has some seasonality, but far less seasonality that most tourist areas. Find ways to make your business sales more consistent throughout the year. However, there are always tourists and there are more and more people moving here every day. It is constant growth.

For example, if you have a business that produces products caters to tourists in the tourist season, try to come up with offerings for potential local customers in the slower seasons.


3) Physical Appeal of Your Business. Do people feel good when they walk through the door?

Just as you would clean up your house or your car if you put those up for sale, buyers want to see a clean business premises. It doesn’t have to be fancy, but keep in mind that one of the appeals of buying a business in Orlando and the surrounding areas is that things are nice, new and upbeat. Buyers want to have the same feeling when they purchase a business. Sweep around, pick up large weeds in outdoor storage areas or parking areas, paint some walls and fix any torn seats cushions or tables that people use regularly. First impression can be everything. If there are two businesses side by side with the same earnings, buyers will opt for the more physically cleaner and organized business.

4) Orlando buyers are open to business purchase options, so any business has a chance to sell.

Plenty of buyers purchase businesses that they have no prior experience in. It’s one of the reasons they buy the business and part of the reason they relocate or live in Orlando; they want something new. Still it always helps a business sale if buyers can be reassured that they will have the tools to manage and run the business they purchase effectively. This means that the more procedures and practices you can document and implement, the easier it will be for the new owner to follow and succeed. At the same time, having skilled employees that can assist the new owner is always a plus so any difficult task that can be hired out should be put into place. Business buyers will see that as one less thing that they will have to take care of.

5) Get Your Lease in Order. Landlords can be Deal Killers!

Know your landlord and what requirements they will require for a new tenant that buys your business. Often times contacting the landlord is left as the final step in most business purchases, but realistically lease transfers should be discussed from the beginning. It varies from industry to industry but landlords can easily stop a deal from occurring if they do not deem the incoming buyer to be a qualified tenant.

If you feel comfortable, discuss what requirements will be necessary before the business goes on the market. If you’re at the end of a lease, find out if a landlord will grant additional options for a person that buys your business. You might find out something horrifying such as the landlord having plans to demolish the building at the end of your lease, but it is definitely better to know that information up front rather than when it is too late.

If you do not feel comfortable about contacting your landlord due to confidentiality reasons, review the lease or ask around to better understand the landlord’s protocol and requirements.

6) Leave Enough Time For The Business Sale To Occur.

Some businesses can go under contract quickly in Orlando. For example, a well-priced manufacturing company for sale, with an owner benefit over $500,000 with good books and records and great earnings. However, most businesses in the Orlando area take approximately 7 to 12 months to sell. Even if a business seller gets a purchase contract within the first few weeks, it still might take three months for the sale to close especially if there is bank financing involved. The landlord management team can require several months for tenant approvals. If possible, plan for the sale in advance. When a business owner plans on relocating within a year’s time, they should probably think about putting their business on the market soon if they are trying to get the maximum dollar.

7) Use The Advantages of Being Located in Orlando To Help With Selling Your Business.

One of the greatest things about selling businesses in Orlando is that it comes with strategic advantages that are important for business buyers. Orlando as a location offers a huge advantage because it provides business owners with easy access to multiple international airports, access to regularly occurring business convention shows, a friendly business climate both with the local and state government and with other business owners. Other advantages include great weather year-round, great places to live in addition to great schools plus being in a city with international recognition is a huge advantage.

8) The Orlando Area Continues to Grow With Constant Development and Population Increases.

Orlando along with the rest of Florida is growing. In 2017, statistics showed that Florida was the 15th largest economy in the world. Orlando is right in the middle of that large economy with the largest airport and a road system that connects all large population centers together. Logistically Orlando is ideal. It also means that buyers can purchase businesses in Orlando that could grow organically fueled by population growth to no marketing.

9) Would You Buy Your Own Business For Full Price, All Cash?

This is a very relevant question business owners should ask themselves before putting their business on the business for sale market. While Orlando attracts thousands of potential business buyers and some businesses in Orlando fetch a premium over these same businesses in other parts of the country, there are limits to what buyers will pay for a business. One way to prepare is to hire a Business Broker who has actual data to support an estimated value range and can explain what businesses are selling for in Orlando and across the state of Florida. Remember, each business for sale is in competition with other similarly priced businesses in different categories in the area.

10) Document your Systems in Place so that it truly is Turnkey!

Spend the extra time to document your systems in place to operate your business. Orlando has a vibrant market that attracts a lot of business buyers. These business buyers however have high expectations and many times these expectations exceed how they operate their own businesses. Hire a consultant if you need to get more focused or organized. When a business is not prepared for a sale it could stay on the market infinitely going from Broker to Broker for years, which is not a great position to be in. Be prepared! Put your financial records in order. If six months of the year have already gone by, business buyers will expect to see current year records as well as tax records from the previous year. Buyers are curious as to what type of software sellers use as well as what kind of accounting, management and inventory systems they have in place. The more systems that are in place, the more attractive a business for sale in Orlando will be.

If you would like more information on selling your business in Orlando or in the Central Florida region, call the Business Brokers at Crowne Atlantic serving the Greater Orlando area at 407-478-4101.

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Asian Restaurant Cafe For Sale in Orlando

Asian Restaurant Cafe For Sale in Orlando
Orlando, FL (Orange County)
Seller Financing Available

Asking Price: $250,000

Cash Flow: $102,619

Gross Revenue: $500,697

FF&E: $60,000

Inventory: $2,000

Established: 2015

Business Description

Asian Cafe Restaurant For Sale in Orlando, Florida
Asian Restaurant Cafe for sale in Orlando, Florida. Business sells popular Asian specialties, soups and sandwiches. The restaurant is located in an upscale spot of Orlando surrounded by both commercial and residential areas. Rent includes free water usage and A/C maintenance. Current owner does a massive lunch business but there is still room for growth as the business does very little marketing. For more information on this Asian restaurant cafe for sale in Orlando please call 407-375-9655.
Detailed Information

Inventory: Included in asking price

Employees: 8

Furniture, Fixtures, & Equipment (FF&E): Included in asking price

Facilities: Full kitchen with large hood system and over 70 seats.

Competition: Very few Asian restaurants in the area so this one has a corner on the market.

Growth & Expansion: Located in an established and upscale part of the Orlando area.

Support & Training: Seller will make for a smooth and easy transition into the business.

Reason for Selling: Discuss with seller.

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Breakfast Lunch Cafe Restaurant For Sale Orlando

Breakfast Lunch Cafe For Sale Orlando
Orlando, FL (Orange County)
Seller Financing Available

Asking Price: $170,000

Cash Flow: $66,011

Gross Revenue: $373,758

FF&E:$40,000

Inventory: $1,500

Established: 2009
Business Description

American Breakfast & Lunch Restaurant for Sale in Orlando, FL
American Breakfast Lunch Restaurant for sale in Orlando. Restaurant opens just 6 days a week and closes by 3pm. Lots of repeat customers that live in the area flock to this restaurant several times a week. Business has a great breakfast menu featuring a whole list of specialty omelets and the restaurant also features a lunch menu with items like grilled sandwiches and fried chicken. Business is easy to run with minimal staff and minimal hours. The rent is inexpensive and the business has great books and records. For more information on this American Breakfast and Lunch Restaurant for sale in Orlando, Florida please call 407-478-4101.

Inventory: Included in asking price

Employees: 6

Furniture, Fixtures, & Equipment (FF&E): Included in asking price

Facilities: Full kitchen, 65 seats, easy space to maintain plus inexpensive rent.

Competition: Not too much competition in the area for diners currently.

Growth & Expansion: Besides marketing and advertising to the local area, another way to expand the sales would be to open up for 7 days instead of 6 or increase the business hours and open for dinner.

Financing: Owner may be willing to finance a portion of the sale for a qualified buyer.

Support & Training: Owner will work with the buyer to make for a smooth and easy transition into the business.

Reason for Selling: Seller’s Health is forcing them to retire.

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Another Sports Bar Sold By Crowne Atlantic Business Brokers

Crowne Atlantic Business Brokers recently sold an Orlando Sports Bar in the Downtown Orlando area. Business was an established operation where the owner has already relocated and wanted the bar to go to an owner who would operate the business hands on. Business has 150 seats with a full kitchen and a 4COP SRX liquor license. As always the business was a confidential business sale. The seller got a great price because they put all of their financials on the books. The buyer got a great deal because they are buying the business as sales are increasing.

If you or anyone you know wants to buy or sell a business, check out our website at www.crowneatlantic.com or phone us at 407-478-4101.

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Italian and Pizza restaurants for sale in the Orlando and Central Florida area for July 2018

These are some of the highlighted Italian and Pizza restaurants for sale in the Orlando and Central Florida area for July 2018. If you’re searching for a pizza or Italian style restaurant check out our website for the most up to date listings in the area at www.crowneatlantic.com or call us at 407-478-4101.

Restaurants Available For Acquisition in Central Florida
Italian Restaurant For Sale
Price: $1.525 Million
Gross Sales: $2.4 Million
Owner’s Benefit: $469K
14-year established Italian restaurant. Gross sales are over $2 Million for the past two years. 30 employees. Located in Central Florida. Should work for an SBA loan for an experienced buyer.

Hotel Restaurant Near Orlando International Airport For Sale
Price: $110K
Sales: $309K
Owner’s Benefit: $78K
Hotel Restaurant that is located near the Orlando International Airport. There has been a restaurant in this location for years. Currently serving lunch and dinner for guests but could make more money if opened for breakfast. Restaurant does not do too much advertising and could be marketed to those outside of the hotel. Restaurant could easily be converted into an Italian restaurant.

Other Opportunities you may want to see:

Italian Restaurant
Price: $499K
Gross Sales: $906K
Owner’s Benefit: $171K
Well-run Italian Restaurant with a super- inexpensive lease. Business as a 4COP SRX liquor license and could qualify for SBA financing for a qualified and experienced restaurant buyer.

Fine Dining Italian Restaurant in North Orlando
Price: $825K $175K down with SBA loan, buyer must be able to document they have fine dining experience.
Sales: $1.4M
Owner’s Benefit: $296K
Fine Dining Italian Restaurant. Business does over $1.4 Million a year and makes great cash flow.


Mediterranean Restaurant with Small Bar located in a Free-Standing Building
Price: $100K
Owner’s Benefit: $60K
Business has a full kitchen, 40 seats and an 8 seat bar area. Currently has a beer and wine license.


Pizza Restaurant in North Orlando
Price: $125K
Sales: $468K
Owner’s Benefit: $90K
Pizza Italian Restaurant for sale in the North Orlando area.

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Italian & Pizza Restaurants for sale in Central Florida/ Orlando June 2018

Italian & Pizza Restaurants for sale in Central Florida/ Orlando June 2018

Below is a short summary of Italian & Pizza Restaurants for sale in Central Florida/ Orlando in June 2018. If you want to see more, you can check out our website at www.crowneatlantic.com or phone us at 407-478-4101. See some of the featured businesses below:

Italian Restaurant & Bar.
Price: $299K
Owner’s Benefit: $120K
(Pictured Above) Established Italian Restaurant and bar for sale in the Orlando area. Business has a full Italian menu and full 4COP SRX liquor license to go along with this opportunity. Rent is very expensive and way below market rate for an SRX opportunity. Great looking buildout and lots of opportunity for a new owner who would want to do additional marketing and take on more delivery business.

Italian Restaurant for sale, SBA Pre-qualified
Price: $499K
Gross Sales: $1 Million
Owner’s benefit: $189K
Italian restaurant for sale, mostly run absentee located in the South Volusia County area. Not too far from Lake Mary/ North Seminole County. Business has a great space with a full kitchen. Close to 3,500 square feet renting for less than $3K a month. Business should qualify for an SBA loan with around $100k down for a qualified buyer.

Fine-Dining Italian Restaurant For Sale In Orlando area
Price: $825K with $175K down
Gross Sales: $1.4 Million
Owner’s Benefit: $296K
Well-known fine-dining Italian restaurant. Business is only open 5 days a week and offers quality food. Business should qualify for an SBA backed loan for a qualified buyer. Buyer will need to be able to document fine-dining experience in their back ground.

New Restaurants coming to market

American cuisine restaurant selling for a price of $1,050,000, Gross sales at around $2million and owner’s benefit at over $360K a year.

Large Restaurant and bar located in the Dr. Phillips/ Windermere area priced at $499K with gross sales at over $2 Million a year.

Other Opportunities:

Asian Sushi/ Hibachi restaurant
Price: $375K
Gross Sales: $957K
Owner’s Benefit: $212K
Business has a 4COP SRX liquor license and is located in one of the busiest parts of East Orlando.

Free-standing restaurant cafe for sale
Price: $100K
Gross Sales: $412K
Owner’s Benefit: $72K
Currently business serves Asian cuisine and is located in a free-standing building. Building is not included in the purchase. The restaurant is 2,000 square feet and rent is just $2,750 a month.

These are confidential business sales so if you would like more information, please reply back to this message or phone me at 407-478-4101 and we can email you a confidential nondisclosure and buyer profile to fill out for each business. Once the signed documents are received we can release more details on a business for sale listing.

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Businesses for sale in Central Florida/ Orlando June 2018

Businesses for sale in Central Florida/ Orlando June 2018

Below is a short summary of new businesses on the market. If you want to see more, you can check out our website at www.crowneatlantic.com or phone us at 407-478-4101. See some of the featured businesses below:

Medical Home Healthcare Business For Sale in Orlando (pictured above)
Price: $599K
Gross Sales: $1.4 Million
Owner’s Benefit: $272K
Business provides assistance for seniors and those needing assistance at home, facility or at the hospital. Owner has a full-staff in place and leaves the state for months at a time. New owner can take a more full-time roll in the business and make closer to $300K a year or they can continue the business as it is and still profit over $200K a year.

Kitchen & Bath Showroom with Installation
Price: $450K
Gross Sales: $1.4 Million
Owner’s Benefit: $337K
Great opportunity to own a Kitchen & Bathroom Showroom that brings in a ton of customers wanting updated bathrooms, kitchens, and living areas. Business does installation as well. Current owner hires only licensed contractors to do installs so they themselves are not licensed. New owner can take on the same management role.

Construction Hauling Business
Price: $1.6 Million
Gross Sales: $1.8 Million
Owner’s Benefit: $600K
Business has 12 trucks and does construction hauling for builders. New owner can increase earnings by adding more capacity. Business makes a lot of money.

Event Rental Business for Sale in Central Florida
Price: $400K
Gross Sales: $390K
Owner’s Benefit: $120K
Business rents out equipment, mostly large tents used for special events. Over $150K in equipment included in the purchase.

Title Insurance Agency For Sale
Price: $189K
Owner’s Benefit: $96K
Central Florida Title Agency with a 15-year track record. The business, housed in a 1500 sf facility, has long term, loyal clients, and has a well-trained seasoned staff. Two leading underwriters provide access to all 67 county records and business is licensed to use Softpro as their title insurance software. The owner is selling to retire.

Electronics Retail Store for sale in the Tourist area
Price: $799K with $599K down
Gross Sales: $1.6 Million
Owner’s Benefit: $319K

Wholesale Business for Sale in Orlando, Distributor of Cable and Electronic Equipment
(includes over $1 Million in Inventory)
Price: $1.7 Million
Gross Sales: $1.84 Million
Owner’s Benefit: $322K

Charter Bus Company for sale in Orlando (includes 8 buses) – 25-year reputation
Price: $1.5 Million
Gross Sales: $1.3 Million
Owner’s Benefit: $366K

Freight Forwarding Business for Sale in Orlando, Florida, does service with over 40 trucks
Price: $1.15 Million
Gross Sales: $3.26 Million
Owner’s Benefit: $627K

These are confidential business sales so if you would like more information, please reply back to this message or phone me at 407-478-4101 and we can email you a confidential nondisclosure and buyer profile to fill out for each business. Once the signed documents are received we can release more details on a business for sale listing.

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More Manufacturing Companies Based in the Orlando, Florida area

A recent article written by Forbes Magazine illustrated some of the newer hot spots for manufacturing in the United States. This may surprise many outsiders of Orlando however over the years many parts of Orlando and especially the outlying suburban cities of Orlando such as Sanford and Kissimmee have been showing more manufacturing activity. This could be for many reasons. Even though the Orlando and Central Florida area do not historically have the face of manufacturing, Central Florida does have some of the major attributes that manufacturing companies would love to enjoy.

Here is a list of some of the benefits that manufacturing companies get in Orlando and Central Florida:

1) Land, especially in the more rural areas is still relatively inexpensive.
2) Labor laws are more relaxed in Florida than in other states.
3) Tax laws are more relaxed in Florida than in other states, including Florida’s no state income tax policies.
4) If the labor talent a company needs does not exist, they simply bring someone from another state. After all, who is going to complain about moving to beautiful, sunny year-road Orlando?
5) Great airport access allowing investors and suppliers from around the country easy access.
6) Great distribution access as Orlando is a major ground hub for distribution in Florida.
7) Lots of access to convention center goers and business people already venturing out to Orlando for conventions.

The list goes on and on. The reality is that Orlando and Central Florida is a great place for manufacturing. If you do not already have a manufacturing company or you are searching for a manufacturing business for sale in the Orlando Central Florida area. You should check out businesses that we at Crowne Atlantic Business brokers are selling. At the same time, if you have a manufacturing business that you are looking to sell, we definitely want to speak with you. Buyers are very interested in manufacturing businesses. If you’re looking to sell or buy a manufacturing business in Orlando or Central Florida. Call us at 407-478-4101 or check out our website at www.crowneatlantic.com.

See Forbes Magazine article linked below:

https://www.forbes.com/sites/joelkotkin/2018/05/23/where-u-s-manufacturing-is-thriving-in-2018/

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Title Insurance Agency For Sale in Orlando Area

Asking Price:$189,000

Cash Flow:$96,978

Gross Revenue:$203,991

FF&E:$35,000

Inventory:$1,000

Established: 2003
Business Description

Title Insurance Agency For Sale In Central Florida
Central Florida Title Insurance Agency for sale. Business has a 15-year track record, has long term, loyal clients, and has a well-trained seasoned staff. They are licensed to use Softpro as their title insurance software and the business, housed in a 1500 sf facility. Two leading underwriters provide access to all 67 county records. The owner is retiring after the sale. Owner ensures a smooth a smooth transition and will stay on in a limited capacity as a consultant if needed. Excellent books & records. For more information please call 407-478-4101.
Detailed Information

Inventory: Included in asking price

Employees: 2
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: 1500 sf facility
Growth & Expansion: Because of the high growth over the next 10 years, property sales will grow dramatically. This area is in the top ten highest growth areas in the State of Florida.
Support & Training: Seller to give 30 days training without cost to buyer. The seller also can be available after this period based on a separate buyer –seller agreement.
Reason for Selling: The owner is retiring after the sale.

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5 Tips On Buying A Franchise Business in Florida

Buying A Franchise Business in Florida

When it comes to starting a business, franchises offer business opportunities perfect for those that know they want their own business but simply do not know where to start. After all, when one starts their own business they need to have the following five questions answered:

1. Do they have an original a business idea?

2. Can they determine if there is a marketplace?

3. Would they know what to charge a customer?

4. Can they create a revenue proforma and would that support their current lifestyle?

5. Can they market this business?

When you buy a franchise most if not all of that work has already been done for the perspective buyer. All they have to do now is figure out what franchise operation they would like to own.

As business brokers we see a lot of great franchises, but we also encounter a lot of franchise owners that are disappointed with what the franchises they bought and want to sell their franchise. Below are some tips that we recommend to buyers when looking to buy a franchise in the Florida area. These tips are based on the business broker perspective of what our business owner customers recommend and what they say they would have done differently if they were to do it all over again.

Tips to Buying A Franchise in Florida

1) Approach buying a franchise the same way you would approach buying an existing business for sale.

As business brokers, we see many people that entered into a franchise and did absolutely no evaluation of the industry or the market place. They saw a franchise that they liked and decided to buy in. A buyer cannot solely depend on the franchise for all of their information. Buyers need to independently evaluate costs, leases, buildouts, structures, fees, taxes, financial proformas and so forth.

2) Comparison Shop.

If you’re looking to buy a franchise in a particular industry there are bound to be several other franchises in the same industry. Look at multiple franchises. Use the services of a franchise broker if need be to help you shop and evaluate. We also recommend comparing buying a franchise business start up to buying an already existing business for sale on the market. Just the other day we spoke with someone who spent $500K on their franchise start up and after a year they are just breaking even. On our market we could have sold them a business for $500K netting $246K a year which would have yielded them an immediate income upon their purchase. We encourage buyers to compare franchise opportunities with one another and then compare those franchise start up opportunities to existing business for sale opportunities on the market.

3) Perform Actual Due Diligence and Speak with Other Franchise Owners.

When business brokers sell businesses, there is typically a due diligence process where business buyers can evaluate the businesses sales, records, and potentially the market place. Many franchise business buyers tend to ignore this step simply because franchises are unable to predict how each franchisee will perform. That does not mean that there isn’t research that can be done on the franchise and the industry. Find out what businesses in the industry are charging and see what kind of operation they have. We would encourage you to speak with existing franchise owners in that franchise to see how they like the franchise. Ask what about what the franchise does to help, ask what role the owner performs in their business and if the cost of starting their franchise matches what the franchise is quoting you.

4) Run The Numbers.

Running the numbers is one of the most important things a buyer can do when buying a franchise or an existing business. The process is simple. Estimate how many customers are expected and how much revenue is expected to be brought in by each customer. Then take those numbers and compare them to the expected costs of the business including: rent, taxes, credit card fees, payroll, and costs of goods. See what that rough number is and ask yourself if the scenario makes sense. For example, if you buy a yogurt franchise and your profit is $1 per cup of yogurt sold and each customer typically just gets one, how many do you have to sell to make $5,000 in profit a month? That’s 5,000 customers. Ask if yourself if that is a doable number. Even if it’s doable, will the customers come right away or will it take a few months? If you’re hoping to net $100K in profit, calculate how much business you would have to do in order to make that happen and ask yourself if it sounds realistic. Often times, it’s a big eye opener for buyers. One also wants to estimate if that amount of revenue they are expecting can afford to pay the expected rent and other expenses.

5) Know What Your Role Will Be In Running The Franchise.

Has the franchise told you that you can easily be an absentee owner? Most of the franchise owners we meet have found that that they are not very profitable unless they are involved in the franchise business regularly. That does not go for all of them, but for most small franchises that seems to be the norm. Absentee ownership is possible, but it typically takes a large chuck out of the profitability of the business because of extra payroll for management and efficiencies lost due to lack of owner oversight. If it’s a smaller franchise it might difficult to make a larger profit making absentee ownership difficult. Remember an operating franchise business is not piece of commercial real estate where one just collects a rent check once a month, it is a living and breathing entity that has to be managed and operated continuously by someone.

For more information on buying and selling franchises and other businesses please contact Crowne Atlantic Business Brokers at 407-478-4101 or check out our website at www.crowneatlantic.com.

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Businesses Available For Sale in the Greater Orlando and Central Florida area.

Businesses Available For Sale in the Greater Orlando and Central Florida area.
Hi this is Lee Ossin with Crowne Atlantic Business Brokers. Below are some newer business opportunities on the Central Florida market for May 2018. If you want to see more, you can check out our website at www.crowneatlantic.com or phone us at 407-478-4101. See some of the featured businesses below:

Title Insurance Agency For Sale
Price: $189K
Owner’s Benefit: $96K
Central Florida Title Agency with a 15-year track record. The business, housed in a 1500 sf facility, has long term, loyal clients, and has a well-trained seasoned staff. Two leading underwriters provide access to all 67 county records and business is licensed to use Softpro as their title insurance software. The owner is selling to retire.

Distributor of Equipment
Price: $925K
Sales: $1.98 Million
Owner’s Benefit: $311K
Distribution & Assembling company that distributes and assembles office-type equipment relating to the printing industry. Business handles both sales and service. Price includes $420K in inventory and should qualify for an SBA loan for a qualified buyer. Great opportunity for someone who wants a distribution business for sale.

3 Pool Stores & 550 Pool Service Accounts
Price: $1.33 Million
Sales: $1.98 Million
Owner’s Benefit: $380K
Business consists of three Pool Stores for sale in addition to 550 pool cleaning service accounts for sale in Florida. Great staff in place. Current owner works around 10 hours a week. Should qualify for an SBA loan for a qualified buyer.

E-Commerce Business For Sale in Florida
Price: $8.5 Million
Sales: $6.8 Million
Owner’s Benefit: $1.4 Million
10-year-old Multi-channel, Multi-vertical eCommerce company that sells products online.

Cleaning Service For Sale in Florida
Price: $688K
Gross Sales: $600K
Owner’s Benefit: $243K
Cleaning service with a well-trained staff and a fleet of 9 vehicles serving the Central Florida area.

Other Businesses on the Market:

Marine Wholesale Electronics Business (products include navigation equipment)
Price $3.95 Million
Gross Sales: $10 Million
Owner’s Benefit: $710K
(Brevard area)
Wholesale Business For Sale in Florida (East Central Florida area)

Toy Distributor For Sale in Florida (Orlando area)
Price: $1.4 Million
Gross Sales: $3.8 Million
Owner’s Benefit: $319K

Trash Hauling Dumpster Rollout Business For Sale (East Central Florida area)
Price: $1.5 Million ($320K down with an SBA loan)
Owner’s Benefit: $417K
Brevard area, business includes $500K in equipment, trucks and dumpsters.

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Restaurants For Sale in Central Florida

Below are some great restaurant for sale opportunities in the Orlando and Central Florida area for the Summer of 2018.


Sushi & Hibachi Grill Restaurant with 4COP SRX Liquor License
Price: $425K
Sales: $960K
Owner’s Benefit: $212K
This restaurant captures the best of many different worlds by catering to those who want a private dining experience, those who want to invite all of their friends for a Hibachi Grill experience and those who simply want to sit at or near the sushi bar. Business also has a separate bar just for alcohol. Business is located in a very populated section of Orlando and has 164 seats.

Quick Service Restaurant with Property For Sale
Price: $990K for the Business & Real Estate
Owner’s Benefit: $209K
Quick-service restaurant specializing in chicken, beef, ribs, sandwiches and other specialties. Business has a long established reputation spanning to almost 7 decades. Currently only open 6 days a week from 11am to 8pm. Lots of room for expansion in sales and on the physical property.

Asian Bar Restaurant for sale
Price: $150K
Sales: $412K
Owner’s Benefit: $70K
Asian restaurant in the radius of Downtown Orlando. Located in a free-standing building so it could be converted to any concept. Rent is only $2,700 a month including CAM. Business has a full kitchen with hood and walk-in cooler and seats over 60 people. All financial numbers are straight from the tax records.

Fast Food Franchise For Sale in Orlando
Price: $275K
Sales: $853K
Owner’s Benefit: $140K
Well-known fast food burger franchise for sale in the Orlando area. Financials come from the profit and loss statements and tax records. Restaurant has been in business since 2006.


Italian Bar & Restaurant with 4COP SRX full liquor license
Price: $275K
Owner’s Benefit: $107K
Great opportunity to own an Italian Restaurant with a 4COP SRX liquor license. Both the restaurant and bar have a huge upside potential. Less than $3,800 a month rent in the Orlando area? We weren’t able to.

Mediterranean Restaurant with Small Bar located in a Free-Standing Building
Price: $100K
Owner’s Benefit: $60K
Business has a full kitchen, 40 seats and an 8 seat bar area. Currently has a beer and wine license.

Asian Restaurant & Bar For Sale in Orlando and Central Florida
Price: $149K
Great looking Asian restaurant. 2,700 square feet in addition to outdoor seating. Business premises has a large kitchen with a massive hood system, walk-in cooler and a bar area.

American Cafe For Sale in Orlando – 25-year reputation
Price: $250K
Sales: $847K
Owner’s Benefit: $114K
Cafe Style eatery with a welcoming family atmosphere.

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Restaurants For Sale in the Orlando and Central Florida area

Below are some great restaurant opportunities of available restaurants for sale in the Orlando area in 2018!

Sushi & Hibachi Grill Restaurant with 4COP SRX Liquor License
Price: $399K
Sales: $960K
Owner’s Benefit: $212K
This restaurant captures the best of many different worlds by catering to those who want a private dining experience, those who want to invite all of their friends for a Hibachi Grill experience and those who simply want to sit at or near the sushi bar. Business also has a separate bar just for alcohol. Business is located in a very populated section of Orlando and has 164 seats.

Restaurants Available For Sale in Orlando and Central Florida

Quick Service Restaurant with Property For Sale
Price: $990K for the Business & Real Estate
Owner’s Benefit: $209K
Quick-service restaurant specializing in chicken, beef, ribs, sandwiches and other specialties. Business has a long established reputation spanning to almost 7 decades. Currently only open 6 days a week from 11am to 8pm. Lots of room for expansion in sales and on the physical property.

Asian Bar Restaurant for sale
Price: $150K
Sales: $412K
Owner’s Benefit: $70K
Asian restaurant in the radius of Downtown Orlando. Located in a free-standing building so it could be converted to any concept. Rent is only $2,700 a month including CAM. Business has a full kitchen with hood and walk-in cooler and seats over 60 people. All financial numbers are straight from the tax records.

Fast Food Franchise Restaurant for sale
Price: $275K
Sales: $853K
Owner’s Benefit: $140K
Well-known fast food burger franchise for sale in the Orlando area. Financials come from the profit and loss statements and tax records. Restaurant has been in business since 2006.

Italian Bar & Restaurant with 4COP SRX full liquor license
Price: $275K
Owner’s Benefit: $107K
Great opportunity to own an Italian Restaurant with a 4COP SRX liquor license. Both the restaurant and bar have a huge upside potential. Less than $3,800 a month rent in the Orlando area? We weren’t able to.

Other Opportunities you may want to see:

Mediterranean Restaurant with Small Bar located in a Free-Standing Building
Price: $100K
Owner’s Benefit: $60K
Business has a full kitchen, 40 seats and an 8 seat bar area. Currently has a beer and wine license.

Asian Restaurant & Bar
Price: $149K
Great looking Asian restaurant. 2,700 square feet in addition to outdoor seating. Business premises has a large kitchen with a massive hood system, walk-in cooler and a bar area.

American Cafe – 25-year reputation
Price: $250K
Sales: $847K
Owner’s Benefit: $114K
Cafe Style eatery with a welcoming family atmosphere.

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Businesses for Sale in the Central Florida area January 2018

To help our business buying customers keep up with the business for sale market in the Orlando and Central Florida area for 2018, below is an example of some of the businesses for sale currently on the Orlando market. There are retail businesses, service businesses, and manufacturing type businesses for sale in the Central Florida and Orlando area. Check out some of the businesses below. If you are not able to find what you are looking for you can check out all of the businesses for sale on the business broker market at www.crowneatlantic.com or please feel free to call us at 407-478-4101.

Convention Services Business for Sale (Pictured Above)
Price: $450K
Gross Sales: $865K
Owner’s Benefit: $214K
Convention services business that works to help companies set up showcases at conventions and other shows within the U.S. and outside of the U.S. Business has a lot of repeat customers and purchase price includes a large amount of processing, printing, 3-D printing and fabrication equipment. Business has a skilled staff in place where the owner mostly just oversees activity. Buyer will also receive a large hard to get database of potential customer contacts if buyer plans on expanding the business.

Outlet Mall Electronics Store For Sale in Orlando
Price: $979K with $750K down
Gross Sales: $1.75 Million
Owner’s Benefit: $234K
Great opportunity to own a store at the Outlet Mall.  The mall receives over 14 million visitors a year and they are buying up a storm!  This business sells all kinds of electronics and accessories including cameras and unlocked phones.

Central Florida Furniture Retail Company with Real Estate
Price: $1.5MM for business and real estate (lender pre qualified)
Gross Sales: $1.23MM
Owner’s Benefit: $253K
Pictured above: A leading Central Florida retail Furniture company, in business at the same location for 25 years. Being the only Signature Design Studio in the northern part of of Greater Orlando, they offer many unique and hard to find pieces that can only be found here. Separate buildings house the Main Showroom, Bedding, and high quality pre-owned furniture. Most major brands are offered, along with warranty services and full delivery and set-up is available.

Childs Play Center
Price: $450K
Gross Sales: $309K
Owner’s Benefit: $106K
This is one of those indoor playground centers for kids. It’s a franchise and it is designed for kids under 8. It’s a great business for someone who likes kids but doesn’t want a daycare with all the licensing and restrictions. Pretty easy business to run as well. Kind of like running a gym.

Specialty Step Van Resale Business (North of Orlando)
Price: $785K (lender pre qualified)
Sales: $1.68 Million
Owner’s Benefit: $355K
Specialty Step Van Resale Business for Sale in Orlando / Daytona Area. Fast growing business with unique online sales with repeat customers and referral sales. $250k of inventory plus equipment included.

Large Tire Dealer For Sale
Price: $6 Million with $3 Million down
Gross Sales: $4.8 Million
Owner’s Benefit: $1.23 Million
Tire dealer that offers a huge selection of tires with a focus on larger trucks and vehicles. Price includes $1.5 Million in inventory.

Production Event Company
Price: $350K with $300K down
Gross Sales: $635K
Owner’s Benefit: $296K
Business sets up stages and production equipment for concerts, special events, corporate events, hotels for indoor and outdoor use.

Park Avenue Boutique
Price: $349K 
Gross Sales: $415K
Exceptional long established Park Avenue Boutique. Loyal clientele who are repeat customers of fine clothing and accessories. Unique items which can’t be found anywhere else in the Central Florida area.  Management and employees in place.

Assisted Living Facility For Sale in Volusia
Price: $1.375 Million (including real estate)
Gross Sales: $447K
Owner’s Benefit: $275K
This is a long term special needs care facility, established for 34 years.  Licensed for 14 beds, but currently using 11.  Purchase price includes the real estate.

You can find more businesses for sale at www.crowneatlantic.com or please feel free to call us at 407-478-4101.

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Selling A Business in Orlando

Crowne Atlantic Business Brokers are specialists at selling Businesses in Orlando. We have sold hundreds and hundreds of businesses in the Orlando and Central Florida area. For our agents, many of whom are native to the area, Orlando is a natural place for buying and selling businesses. After all, Orlando and Central Florida is one of the fastest growing places in Florida and one of the fastest growing areas in the country. On top of that, the Orlando area is one of the biggest tourist destinations in the country and in the world. Visitors come from all over to experience our attractions, conventions, and our year-round warm weather. There are also a lot of residents in Central Florida that have made this area their permanent residence. They plan on retiring here. Some want to relocate here from out of state and even more people reside in the area but want to grow their earnings. To do this many people plan on buying a business.

Crowne Atlantic has sold hundreds of businesses spread across Central Florida. We’ve sold businesses in Orlando, Tampa, Daytona Beach, Jacksonville, Ocala, and all the parts in between. We specialize in helping business sellers market to international buyers, out of state buyers and local buyers. In our industry, any of these business buyers could potentially offer a business seller the best price. It is our job at Crowne Atlantic Business Brokers to help business owners sell their business for the best possible price.

To do this we work with business owners to show them multiple ways different buyers may choose to evaluate their businesses. There are some key elements to start out with that most buyers want to see when they evaluate businesses.

A) Financial Records – Business buyers (no matter where they might be from) will ask business owners for their last 3 years financial statements. This may come in the format of 3 years tax records or 3 years profit and loss statements. Buyers prefer tax records, but any financial paperwork or information that helps business buyers understand the sales volumes, expenses and cash flows is helpful.

B) Property Lease or Property Information – Business Buyers will want to see a copy of the business’s current lease for the premises or if the business comes with real estate they will want to see the schematics of the property where the business is located. When it comes to leases especially Buyers want to see what terms they will need to agree to and how long they can reside on the business premises.

C) Equipment and asset lists – Business buyers want to see what kind of assets and equipment if any that they will be purchasing in the business transaction. It is also important for Buyers to learn if there is any additional equipment that they may need to purchase or if there is additional money required to update or replace any of the equipment or assets of the business.

Naturally there are many more items that business buyers will request, however if you’re looking to sell your business in the Orlando and Central Florida area having these items available will strengthen the value of your business because these are the items that buyers look for when they shop for businesses to buy.

If you’re looking to sell your business in the Orlando or Central Florida area, give us a call 407-478-4101.
www.crowneatlantic.com

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Pizza & Italian Restaurants for sale in the Central Florida area

These are some of the latest pizza and Italian restaurants on the market for August 2017. Give us a call and let us know what we can help you find 407-478-4101.

Pizza & Italian Restaurant – 32 seats
Price: $249K with $200K down
Gross Sales: $397K
Owner’s Benefit: $138K
Pizza and Italian restaurant for sale in Orlando. Business has an amazing built out that attracts lots of weekly dine-in customers. Menu includes full pizzas, Italian dishes, salads, and pizza-by-slice. Great frontage of one of the city’s major roads and plenty of parking. The facility has a full kitchen with a 16ft hood, walk-in cooler and 32 seats. Long lease available for new owner!

Neighborhood Pizza Place for sale in Seminole County
Price: $119K with $101K down
Gross Sales: $462K
Owner’s Benefit: $91K
Growing pizza shop serving pizza, appetizers, wings, pasta and subs. Rent is just $2,365 a month for 1,300 square feet. Seller is selling due to health reasons.

Italian Restaurant for sale in South Volusia County- SBA Lender Pre-Qualified
Price: $599K with $119K down with an SBA Loan
Gross Sales: $1.03MM
Owner’s Benefit: $189K
Absentee run business with great financials. Business has a great lease at $2,400 per mo for 3,500 sq ft for initial 5 year term plus 3 – 5 year options. Business could potentially qualify for an SBA loan for a qualified buyer. The facility seats 140 people including some outside. Includes wood burning pizza oven & large fully equipped kitchen. Currently only offering beer & wine (2COP) but can convert easily to full liquor w/ 4COP SRX.

Italian Restaurant (not too far from Disney)- SBA Lender Pre-Qualified
Price: $465K with $100K down with an SBA Loan
Gross Sales: $739K
Owner’s Benefit: $189K
100% absentee; GM in place at $60,000 year. Cash flow 100% absentee was $128,821 in 2016, For the last 3 years, sales and profit has grown exponentially. Open attached file to look at the details of the pristine books this business has to offer. It has been pre-qualified by 2 banks for a 75% loan on asking price. .

Pizza Franchise For Sale
Price: $260K
Gross Sales: $627K
Owner’s Benefit: $166K
Pizzeria franchise for sale in the North Central Florida area. Business has a solid reputation and has been established for 6 years. There is currently a GM or an and Assistant Manager. The franchise is looking for an owner operator and price includes start up costs.

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Internet Based Businesses For Sale

In 2017 there are a lot of internet-based businesses for sale. Back in 2009 there were a lot of online businesses but not like there are today. Below are some examples of internet based businesses on the Florida market.

Online Business for Booking Photo Booth Rentals
This is a cool concept where the business is doing bookings for photo booth rentals. Just imagine that just 10 years ago this business probably could not have existed and here this business is eight years old and profitable.
Price: $125K with $100K down
Gross Sales: $370K
Owner’s Benefit: $63K
On Line Business for the booking / rental of photo booths for special events with current operations in 17 locations nationwide. Work from home a few hours a week and bring in income.

Auto Supply Business
This auto supply business is less of a unique listing in that we have heard of people buying auto parts online for quite sometime, either through known retailers or online retailers like Amazon. Even before that however, we all knew of people that would buy auto parts on Craigslist or Ebay. This is a great concept though and auto parts are always in demand!
Price: $225K
Gross Sales: $ 751K
Owner’s Benefit: $104K
Auto part supply business that has a great reputation in the industry. eBay store account, fully customized e-commerce website, and popular Facebook included. This business has all of the infrastructure, relationships, and processes in place for a new owner making it turn key ready. Very clean books and records. Should qualify for E2 Visa. Approximately 200k in inventory included in purchase price. Currently operates out of 4,800 square feet of space at a rent of $2,850 a month.

Retailer of Women’s Apparel
Women’s apparel is also a stronger winner on the business side. Sometimes there are fewer buyers for women’s apparel businesses because men, especially if they are not fashion conscious rule themselves out as buyers without even looking into the business. They definitely shouldn’t do that. If the business is well-run like this one it could be possible for any skilled business person to run the business effectively.
Price: $695K
Gross Sales: $2.57MM
Owner’s Benefit: $247K
Successful internet retailer of niche women’s fashion apparel. Business needs attention to SEO and marketing in order to grow sales back to historical levels and beyond. The brand has a cult following. Long-time employees who are capable of running operations are present. Founder is unable to provide necessary resources due to personal situation.

Social Media Marketing Business
Below is a very different concept where the owner uses Instagram to help people advertise and market their products. It’s actually a cutting edge idea nowadays because 10 years ago no one would have even thought this could be a thing.
Price: $449K
Gross Sales: $422K
Owner’s Benefit: $299K
Social Media Marketing opportunity using Instagram with over 6.3 million followers across 11 accounts. Marketing for Ads dealing with Health, Fitness, Supplements, Skin Care and some Beauty. Customers buy Ads as a package across all 11 accounts. Easy to operate from your Smart Phone. Home based business that enjoys long time Loyal Customers and is fun to operate.

Branded Supplement Internet Business
I’m sure you have seen supplement businesses advertised on TV and the internet. This is another supplement business. Keep in mind that many of these supplements are not manufactured in people’s basements. Many come from well-respected companies and these smaller companies re-brand and private label the supplements. So if you like supplements, this business could be a good fit for you.
Price: $1.2MM ($300K down with lender pre-qualification)
Gross Sales: $826K
Owner’s Benefit: $370K
Extremely Profitable Branded Supplement Internet Business. Established since 2013 supplying its own brand of dietary supplements to a specialized niche & general market with worldwide distribution. Great profit margins. Owner benefit $370k in 2016. Perfect books & records. Tremendous growth opportunity. Relocatable anywhere in the US. No A/R. Easy to run. 3-year growth trend. All products contract manufacturing in the US. Lender pre-qualified.

Internet Brand Name of After-Market Motorcycle Parts with E-commerce Store
This is a strong looking business with the owner’s benefit income close to a million. People also love motorcycles. Motorcycles just like cars and pets have their own group of loyal followers. Motorcyle riders generally take care of their vehicles so selling them parts that can help keep everything together is always a great idea.
Price: $5.9MM (including 2.4MM in inventory)
Gross Sales: $2.9MM
Owner’s Benefit: $942K
Internet brand name motorcycle aftermarket parts retailer with high traffic E-Commerce store. Huge warehouse. Huge new inventory included! All parts from spark-plugs to rolling chassis and full custom bike kits, also selling metric cruiser parts. Long term, well trained staff/perfect vendors. Excellent opportunity to take over a 23-year-old successful tried and true well known business. 2 websites,5 eBay stores,2 Amazon stores and other online marketing.

Nationally Recognized Branded Fitness Product Line
Fitness products always do well as an online business. This internet business for sale sells fitness gear and products mostly online.
Price: $3.1MM
Gross Sales: $7MM
Owner’s Benefit: $751K
Nationally recognized branded fitness product line. Multiple sales channels mainly through direct e-commerce & dealer websites (~87% of sales), amazon/prime (~8%), & local store (~5%). Strong social media presence 240k followers & high-quality email list 100k. Well streamlined processes/technology enable seamless growth. Customers include commercial gyms, military, universities, sports teams, regional dealers, & individuals. 2017 annualized off rolling 11-month June 2016 – April 2017

Online Wholesaler of Beads
We love this online store for sale as they take an old school products and use the latest technology to sell them. People have been using beads in the apparel industry for centuries. These folks simply took their entire business online and no longer do retail. It’s more efficient that way and they have a much larger audience.
Price: $1.4MM ($350K down with a lender pre-qualification)
Gross Sales: $1.2MM
Owner’s Benefit: $388K
25yr old Wholesaler of beads and findings with over 10,000 products in inventory. 95% of sales are through online customers. Business has strong following with 3 websites coming with the business. Great financial records in quickbooks.

These are confidential business sales so if you would like more information on these or other online stores and Internet businesses for sale on the Florida market, let us know. You can reach us at 407-478-4101.

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Disney area Pizza Restaurant for sale Orlando

BBF-43945372
Pizza Restaurant North Orlando (closed on weekends!)
Price: $109,900
Gross Sales: $208,080
Owner’s Benefit: $44,760
Pictured above!  New York style pizzeria for sale in the Orlando area with seating for 54 patrons. Business is closed on the weekends and does no delivery.  Have you heard of anyone getting away with that before in the pizza industry here?  Me neither.  Pretty amazing!  If you add delivery and open on the weekends you will most likely grow the business instantly!   1,800 square feet and just $1,500 a month in rent.  Very hard to beat that!

BBF-411500051
Pizza restaurant located in the Lake Buena Vista area of Orlando
Price: $80,000 with $65,000 down
Gross Sales: $365,757
Owner’s Benefit: 107,293
Busy pizza shop, near Downtown Disney, Disney Parks, and Hotels. High delivery volume make this business something worth taking a look at. Get your investment back in less than 1 year!   1,750 square feet.  (Rent includes both water and electricity so it’s a little higher at $5,300 a month……….you would be most likely paying it in utilities though anyways).

Pizza/Italian Restaurant for sale in Clermont, just 25 minutes driving time from Windermere.
Price: $195,000
Gross Sales: $461,594
Owner’s Benefit: $121,175
Extremely busy pizza shop, located in Clermont just 25 minutes away from Windermere.  We mention that because we get a lot of phone calls from Windermere asking for businesses for sale in Windermere, but there are not many.  This would be a good alternative. Most popular in the area. Known for high quality ingredients & great recipies. Great location in a fast growing area. This pizza place has it all! Low overhead, more than enough parking, equipment is in great shape, clean, and #’s increasing each year. This is a MUST SEE if you are interested in a pizza shop. Financials are kept on the books.  Rent is just $2,474 a month and square footage is 1,400 square feet.

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Downtown Orlando Breakfast Lunch Restaurant For Sale

Great Opportunity to buy a breakfast lunch restaurant for sale in Downtown Orlando.

BBF-43945341

Breakfast Lunch Restaurant For Sale Orlando

Price: $225,000 with $175,000 down

Gross Sales: $757,000

Owner’s Benefit: $75,254

1.5 Year old Breakfast Lunch Restaurant that is absentee owned. Owner lives out of the country. The restaurant has very strong sales, a new buildout and it is located with strong traffic flow near downtown. Seller motivated. Business needs owner operator; ideal for E Visa or L1. Strong Records. Owner’s Benefit reflects working ownership, but that’s by the numbers. If a real owner operator were place, there’s a lot more they could to not only build sales, but to be more profitable. Since we don’t see a lot of high-end breakfast lunch restaurants on the market, I’m recommending buyers take a look at this one. Restaurant is 3,700 square feet and is closed by 3pm each day, so there is a lot of opportunity for expansion. If you have any questions please feel free to reach me at 407-478-4101 or you can reply back to this email and I can send you a confidential nondisclosure.

Great opportunity for a Restaurant and bar for sale in Volusia County near Daytona Beach and Port Orange

BBF-43945223

Polished Casual Grill located in Premier Retail Location (South Volusia County)

Price: $399,000 with $299,000 down

Gross Sales: $1,250,000

Owner’s Benefit: $165,000

Polished Casual Grill located in Premier Retail Location with multiple anchor retailers and attractions. Attractive Rent Rate, Professional Management in place and cost management controlled. Owners absentee, Attractive seller financing included for qualified buyers. Contact Agent and Fax NDA. Visa Doable.

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5 Things to Know When Buying a Law Firm

Buying a law firm is a common way for attorneys to expand their existing practice or for young lawyers to hit the ground running, but it’s not as straightforward a process as buying another type of business. There are practical and ethical considerations that anyone who wants to buy law firms for sale needs to know about.

5 Things to Know About Buying a Law Firm

  1. The sale will be governed by the American Bar Association and the State Bar Association Rules of Professional Conduct. Selling a law practice used to be highly unethical. Today, those concerns have eased somewhat, but strong ethical protections remain in place. According to the ABA, any sale of a law practice must be in compliance with the governing jurisdiction’s Rules of Professional Conduct. Buyers and sellers in Florida must follow and comply with certain requirements set by the Florida Bar Association in order for the sale to be valid. For example, the sale must include the entirety of the practice or an area of the practice; the seller’s clients must be given written notice of the proposed sale; and the fees charged to clients cannot be increased as a result of the sale.
  1. Due Diligence is more difficult. Due diligence is an important part of any sale, helping buyers determine the suitability of the sale and the viability of the business. Due to the nature of the legal business and client confidentiality, it’s very hard for buyers to verify the business’ income ahead of time and even the number of clients the firm has. Buyers do still have some options for due diligence. They can look at past income tax returns, financial statements, and bank statements to get a broad overview of the firm’s financial state, as well as any property lease agreements related to the firm. Liens and malpractice suits can be researched and inquiries to the state bar can unveil disciplinary complaints and concerns.
  1. Timing of the sale may be affected. The settlement date is impacted by a firm’s pending cases. In cases where litigation is involved and the selling attorney plans to leave the profession, the sale may be delayed until the case is settled. This is because the selling attorney may not be able to withdraw as counsel from the pending case once a jury has been selected.
  1. Clients are not for sale. Just because you are buying a successful law practice does not mean you will get to keep all of the firm’s current clients. The practice of law is a profession in addition to being a business, which means there are a lot of intangibles that impact the success of a firm, such as the lawyer’s experience and reputation. Clients are always informed of the pending sale and have the option of taking their business elsewhere.

 

  1. A court order may be involved. In cases where clients cannot be served with notice of the sale, it may be necessary to obtain court authorization. In lieu of the client okaying the change in counsel, an order from the court is needed to make the substitution. The court will determine whether or not reasonable efforts to find the client have been made and whether the client’s interests will be served by the substitution of counsel. Lack of a court okay, does not necessarily halt the sale, however.

Find Law Firms For Sale and Navigate the Sale Process With Help From Crowne Atlantic Properties

The business brokers at Crowne Atlantic Properties can help you navigate the realities of buying a law firm in Florida. We can match buyers and sellers, help you conduct due diligence, and advise you through the entire transaction. Learn more about buying an Orlando law firm for sale by contacting us at 407-478-4101.

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Winter Park Pizza Restaurant for sale

Winter Park Pizza Restaurant for sale. Business is located in the high-end area of Winter Park and serves up fantastic pizza. The restaurant offers dine-in, take-out, and delivery. Rent is just $1,600 a month and for the area this is a total bargain. Business is fully equipped with hood systems, refrigeration systems, a grill and a double-stacked pizza oven. New owner can continue on with the current concept or bring in their own concept. For more information please call us at 407-478-4101.

Asking Price:$85,000

Gross Income:$151,789

FF&E:$30,000

Inventory:$1,500

Employees:4

Inventory:
Included in asking price
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Well-built facility with multiple hoods, a double stacked pizza oven, a grill, along with indoor and outdoor seating.
Growth & Expansion:
Owner is a first time restaurant owner. There is a lot of room to build on the sales for an experienced owner. Business is located in a high-traffic area surrounded by businesses, residential areas and schools and there is a lot opportunity either for the owner’s concept or another restaurant concept.
Financing:
Owner is open to financing a portion of the purchase price for a qualified buyer.
Support & Training:
Owner will work with the buyer to make for a smooth and easy transition into the business.

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Top 5 Reasons Every Business Owner Should Hire A Good Accountant

Most new business owners hear the word “accountant” and they think “taxes”. But the truth of the matter is accountants do much more than prepare tax returns for business owners. They can provide incredibly valuable service at every stage of the business life cycle from the start-up and growth phases to advice on selling a business when that time comes.

Here are our top 5 reasons every business owner should to hire a good accountant.

5 Reasons To Hire An Accountant

    1. You’re Buying a Business. Buying a business is a huge financial commitment. An accountant will be able to not only evaluate your own financial health and ability to purchase and run a business, but they will be able to evaluate the business’ finances too – before you sign on the dotted line. This is hugely important if you are buying an existing business. A professional accountant will be able to look deep into the financial records and let you know if anything looks wrong or worrisome. You will have a better idea of what you’re getting in to. Having an accountant also improves your chances for a business loan. The simple fact that you are serious enough about the business finances to hire a professional, will help you gain favor with the bank, not to mention the facts and figures the accountant can provide the lender when needed. An accountant can help you evaluate your loan options and choose the best one for your needs too.
    1. Professional Tax Assistance. We can’t have an accounting top 5 list without including taxes. Tax assistance is more than just preparing and filing yearly taxes. An accountant will be able to:
      • Complete and file the required legal documents for the business, even helping you choose the right legal structure for the business.
      • Advise you on changes in the tax law that may affect you,
      • Prepare annual statements and maintain financial and business formation records,
      • Represent and advise you during an audit.
      • Evaluate your income, expense and cash flow to help you maximize resources.
    1. Business Plan Development. Business plans are simple when you’re a sole proprietor, but operations get rapidly more complex once you start expanding your services, adding employees, or take on more clients. An accountant will be able to develop and evaluate financial projections to help guide your business decisions. You’re more likely to succeed when you base your decisions on hard data that has been professionally evaluated.
    1. Finance and Payroll. Did you know accountants can be hired to manage your finance and payroll functions? If this is not your area of expertise or you don’t have staff to handle the process for you, delegating this function will make your life immeasurably easier. Thanks to cloud-based software, you and your accountant can have access to the same files and data in real time and make financial decisions together, the same way you’d do with an internal payroll specialist.
  1. You’re Selling A Business. Just like when you bought your business, an accountant’s insights and analysis during a sale will only help you. An accountant will make sure your financial records are in order and produce the statements and documents requested by the buyer. Again, having professionally prepared documents like this will only work in your favor. Your business will be more attractive to buyers for having these documents in order.

If you’re concerned about the cost of hiring an accountant, keep in mind that he or she does not have to be hired as a full-time employee. You can hire one on retainer or just for the services you need. This makes it much more affordable for small business owners to obtain the financial expertise they need to succeed.

Get More Business Advice From The Business Brokers At Crowne Atlantic Properties

If you are getting ready to buy or sell a business in Florida, contact Crowne Atlantic Properties at 407-478-4101.

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Small Business Accounting Checklist

For many business owners accounting is a necessary but painful business function. Most business owners would much rather be focused on the core service of the business than reviewing numbers, but those reviews are crucial to the success of the business…and crucial to keeping your stress levels in check at the end of the year. Without routine financial practices, business owners would have trouble meeting their payroll, billing, and tax obligations. They would have a hard time planning for the future too.

To make the job less painful, we’ve compiled a small business accounting checklist. This checklist will help you understand what needs to be done and when. This will keep you from worrying about it unnecessarily which could draw your attention from other equally as important business matters.

Your Small Business Accounting Checklist

One thing you can say about accounting – it is a routine function. Establish good habits and use the routines of accounting to your advantage by establishing a checklist that follows the annual business cycle. This will keep you on top of your financial obligations all year round, ensuring you don’t miss a thing.

  • Daily
    _____ Check your cash position. How much do you have on hand? Do you need to make a run to the bank before opening for the day?
    _____ Take a look at incoming and outgoing payments. What’s on tap for the day? Is everything ready to go or is there work to be done?
  • Weekly or Bi-Weekly
    _____ Record payments received from customers and made to vendors.
    _____ Record invoices or bills sent out to customers.
    _____ Organize and file receipts and invoices. What has been paid? What’s still unpaid? _____ Process payroll.
    _____ Evaluate cash flow.

    Keeping on top of these functions every week will make the process a lot easier to handle. The organization and time you put in to it now, will pay off when tax season rolls around.

  • Monthly
    _____ Reconcile your checking account to make sure your internal balances match the bank balance.
    _____ Check for past-due invoices (aged receivables) and send out reminder notices at the beginning of the month. Doing this all at one time will help you manage the process and keep track of who has been contacted and when.
    _____ Check inventory. The beginning or end of the month is also a good time to check your inventory and place new orders if necessary.
    _____ File payroll taxes.
    _____ Review monthly balance sheet. Do line items add up? Is anything glaringly wrong? What does your cash position look like?
  • Quarterly
    Every quarter it’s a smart idea to take a deeper look at how your business is faring so you can make plans and adjustments if needed.
    _____ Review Profit and Loss Statements for the quarter and compare it against the budget.
    _____ Process quarterly payroll, sales, and income tax payments.
  • Annually
    _____ Review aged receivables and send to collections if necessary.
    _____ Conduct year-end inventory status and analysis.
    _____ Complete IRS forms.
    _____ Review year-end financial reports.
    _____ Review tax returns and books before giving them to your accountant.

While the list may look overwhelming, doing it a little bit at a time, like we’ve broken it up, makes things easier. An accountant or even accounting software can make all of these processes even more manageable. For small businesses with uncomplicated transactions, you can probably manage the processes yourself with the right software, if you’re so inclined. For other business owners, it is well worth the cost of hiring an accountant to do the job to ensure it is done correctly, on-time, and accurately. It could also save you the time and stress from doing it on your own.

Contact Crowne Atlantic Properties Business Brokers For Help With Your Business Needs

If you want to buy or sell a business or need advice on how to find an accountant, contact the business brokers at Crowne Atlantic Properties at 407-478-4101.

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Checklist For Listing A Business For Sale. Are You Ready To List?

So you’ve made the decision to sell your business. You’re financially and emotionally ready for the change this will bring to your life. The market is good and you have a compelling reason to sell. Now what?

Now you need to get your business in listing shape. Here’s how:

  1. Get the expert help you need. Selling a business is complex and can be even more so if you desire anonymity or want to keep the sale a secret from your employees and customers. It’s also time-consuming and there are many legal requirements to follow. This is where the services of professionals become invaluable. At a minimum, you’ll need a business broker, an accountant, and an attorney. These experts can help manage the process, handle negotiations on your behalf, provide advice on setting a sale price, determine a business valuation, and manage any profits you earn from the sale.
  2. Become comfortable talking about your reasons for selling. Expect to be asked why you are selling your business. Buyers will want to know if they are getting into a potential problem and what your motivations are for selling. Develop a list of attributes that will make the business attractive to buyers such as: steady or increasing sales figures, increasing profits, loyal customers, or growth potential. Be honest, but highlight the positives.
  3. Get your financial records in order. Hopefully, you and your accountant have been maintaining accurate financial records all along, but if you haven’t you must get them in order before you list the business for sale. Potential buyers will want to see financial statements, budgets, cash flow, accounts receivables and payables, recent tax returns, franchising fees, if applicable, and your current lease agreement. These are just a few of the financial records you’ll need to produce during a buyers’ due diligence period and are a prime example of why you need an accountant to help you with the sale. You should also prepare a list of equipment that is included with the sale and whether or not there are any lease, financing, or rental costs associated with it.
  4. Fix it up. Make sure the business is in good shape before you list it. Curb appeal applies to businesses just as much as it applies to houses. Fix or replace broken equipment, keep it clean and presentable at all times.
  5. Create an information packet. Buyers will appreciate this extra step. In your information packet you can include a brief letter, explaining your reasons for the sale, what you love about the business, what is a challenge, and what your hopes are for the sale. Include in the packet, a contact list of key employees, suppliers, and contractors. You should also include a copy of the business structure and any current operating manuals or employee handbooks.

Listing A Business For Sale Takes Time

Don’t expect to wake up one day and decide today is the day you put your business up for sale. Listing a business for sale takes time, especially if you have to get records in order. It’s not unusual for business owners to need several months to a year or more to fully prepare for listing, particularly if they’ve been lax about record-keeping. Then, once the business is listed, expect to spend even more time waiting for the right buyer to come along and even more time finalizing the details and actually closing on the sale.

Let Crowne Atlantic Properties Help You List Your Business

Selling a business is extremely time-consuming and will take away from your day-to-day running of the business if you decide to sell it without help. The business brokers at Crowne Atlantic Properties will save you time, keep the sale confidential, reach the broadest market, and get the best offer in addition to providing advice and guidance throughout the listing, negotiation, and sale process.

For more advice about listing a business in Florida, contact at 407-478-4101.

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Making Sure You’re Ready To Move On When You Sell A Business

A lot of Florida business owners think through every aspect of selling a business. They are careful to choose the right time to sell. They spend time getting their financial records in order. They research the market to price the business right. They work closely with their business broker to find the exact right buyer for their business.

The one thing they don’t do is plan for the transition from business owner to….what, exactly? Transition planning consists of prepping for that post-sale time. This is a time when the new owner may still need you as a mentor and guide in their new venture. A time when former employees and long-time customers may seek you out to discuss the sale and the changes it has brought.

This is the time for you, the former business owner, to figure out what’s next for you and your life.

Creating A Transition Plan

  • Prepare to let it go. The first thing you need to do when creating a transition plan is to be prepared to let go. Even if you think you are emotionally ready to stop being a business owner, it can be very hard to watch new owners come in and start taking over “your” business. If you plan to stick around and be available to help the new owner out, it is especially important that you are 100% comfortable with no longer being the one to make the decisions.
  • Develop a new vision. It’s very difficult to walk way from a business you’ve spent years developing without any idea of what you are going to do next. If you can’t imagine not being the owner of your company, you need to ask yourself if the time is right to sell. If you are committed to selling, have some options in mind for what you will do next in your life. Do you have another job/career in mind? If you’re retiring, make plans for a long vacation or project to keep your mind occupied as you transition from being the boss to being a retiree. Too many business owners have no idea what they will do once the business sells and develop cold feet at some point in the process, eventually pulling out of the sale. Take some time for introspection to prevent this from happening to you.
  • Develop an actual transition plan. It can help to spell out in detail your actual plans for handing over the reins of your business. Think about how involved you can and want to be and for how long. Develop a list of important contacts for the new business owner so they can rely on these individuals instead of you if you are trying to ease your way out. Make sure to discuss this plan with potential buyers so they don’t walk into the deal thinking you will be more available than you have planned.

    • Talk Through Transition Options With A Crowne Atlantic Properties Business Broker

    If you are ready to sell your business but aren’t sure how to make a clean break, talk to the business brokers at Orlando’s Crowne Atlantic Properties. We have worked with hundreds of business owners who have successfully made such transitions. Our brokers can help owners develop suitable transition plans or even put them on the path to a new business opportunity.

    Contact Crowne Atlantic Properties at 407-478-4101 for help planning the next stage of your life.

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What To Negotiate When Buying A Business

Buying a business is stressful enough. The thought of adding negotiation to the process is enough to make some buyers run for the hills. But negotiation isn’t a bad thing, sometimes it is even expected, and it can get you a better business deal.

What Can Be Negotiated When Buying A Business

Good negotiation skills are necessary to get the best deal when buying a business, but anything can be negotiated if it is of importance to you. The most common areas of negotiation when buying or selling a business come down to a few select points.

  • Price. The sales price is the negotiation point that always jumps first to mind. This is definitely open for negotiation. You should examine the company with a fine-toothed comb before making an offer. Your offer should be fair, but also take into account any additional costs you may incur after the sale. One common cost is upgrading obsolete equipment. If you know you will have to do this, you can try to negotiate a lower sales price to help cover these additional costs.
  • Financing. How will you pay for the business purchase? If you need financing, shop around for the best terms for your specific situation. Business loans are hard to come by so you may find yourself talking to private lenders. Always negotiate a loan that you can afford to pay and still make a profit on the business. You may even be able to negotiate with the seller to retain a financial stake in the company until you get on your feet.
  • Contracts. Sales contracts are always open to negotiation. Under the advice of an attorney, you may want to change things as simple as the closing date to as complex as a non-compete clause. One important note: always negotiate these changes before you sign the contract.
  • Inclusions and Assets. Do you want to keep certain equipment? Negotiate it into the sales contract. Equipment, storage space, vehicles, etc. may or may not be part of the deal. If you want it, ask for it. Likewise, if you want something gone, make that part of the deal.
  • Staffing or Seller Assistance. Do you want the seller or certain key staff members to stay on to help you transition? Make sure you put that into a contract. Negotiate how long the seller/staff will remain to assist you and a salary or compensation for their time.

Business Brokers Are Expert Negotiators

If you loathe the idea of negotiating, ask your business broker to do it for you. A business broker will be incredibly helpful if you want to negotiate anything related to the sale. Not only will the broker be able to give you advice on what to negotiate or what to offer for the sale, they can do it on your behalf. That’s right. You don’t even have to be the one to face the seller and negotiate the terms. Your broker can do it for you.

The business brokers at Crowne Atlantic Properties have worked with hundreds of Florida business buyers and sellers, negotiating terms that are favorable to all and make the sale happen. If you need help negotiating the purchase or sale of a business contact Crowne Atlantic Properties at 407-478-4101.

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When Is The Right Time To Sell A Business?

Sometimes, business owners have no choice but to sell their business. Many times health, retirement, and relocation are big factors. Sometimes an owner’s circumstances change or there is some other compelling reason that makes selling the only option. In those cases, it’s not a matter of when to sell, but rather, how to get the most out of the sale.

For others, the decision is not so clear-cut. Sometimes, it creeps up on you and you start to wonder how much the business is worth. At other times, you’re ready to try something new but not sure how to move on. Or maybe you’re starting to think about retirement. Even if the motivation is there, it can still be hard to make that final decision to stay or sell.

This all begs the question, “How do you know when it’s time to sell your business?”

Three Conditions That Make It A Good Time To Sell

Over the years, we’ve discovered three conditions that, when aligned, make it the right time to sell a business.

1. There is a reason to sell.
2. You are confident a sale can be made that meets your objectives.
3. You are emotionally ready to sell.

If your situation meets all three of these criteria, now might be a good time to sell your business.

1. There is a Reason to Sell.

Having a reason to sell might be just the motivation you need to start the process. If you’re not forced to sell, suitable reasons might be: personal, investment-related, or strategic. Personal reasons usually don’t have an economic or business-related reason to sell. They may be forced by a divorce or disagreement between the partners/owners, retirement, or even the feeling of being burnt-out can all be compelling enough reasons to sell. Investment related reasons to sell may be a need for cash, a need to minimize your area of risk, or you may see it as a good time to sell for a profit. Strategic reasons for selling a business may be a need to raise capital for other investments, pursuits, or expansion. You might sell it to gain access to a new technology or new customers.

2. You are Confident a Sale can be Made That Meets Your Objectives.

No one wants to attempt a sale if they don’t think they’ll be able to attain their objectives from it. Why spend the time and money needed to advertise and promote the sale if you have no confidence it will come to fruition? To ensure a sale, you’ll need to have realistic objectives, including a fair selling price. You will also need to make sure the current internal and external business environment is favorable to the sale of your business and that your business is ready to sustain the scrutiny a sale will create from buyers.

3. You are Emotionally Ready to Sell.

Don’t underestimate the emotions that come with selling your business. There will be emotions one way or another and they can have a huge impact on your decision to accept or decline and offer. Emotions are much stronger in solo entrepreneurs than in owners who went in on the business as a partnership. Selling can affect your lifestyle, your identity, your finances, even your family life and social circles. In short, it will change your life. Come to terms with these issues before putting the business up for sale so you aren’t having second thoughts when there’s an offer on the table.

Sell A Business In Florida With Crowne Atlantic Properties

If you’re thinking about selling your business and want to learn more about the process, get a business valuation, or list a business for sale in Florida, contact Crowne Atlantic Properties at 407-478-4101. Our business brokers would be happy to help you.

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Buying a Business: Financing Options

When purchasing a business for “all cash” is not possible, sometimes there are other options buyers can consider.

Making An Offer

When you’ve found the perfect business it’s time to make an offer. Offers are typically structured with the buyer providing a certain amount down and financing the remainder. The remaining amount due is financed in one of three ways: by the seller, through a bank, or with help from personal resources.

Obviously sellers prefer to get all cash at closing, but buyers can purchase a larger or more expensive business if they are willing and able to finance a portion of it. Low or no-money down offers are exceedingly rare. First of all, it’s very hard for the owner to make any income when they have high debt payments. Secondly, banks and lenders are reluctant to provide funds for a business that the buyer doesn’t show a vested financial interest in. A down payment will lower the amount of debt financed and make you a more attractive borrower in the eyes of the lender.

Financing Options

Business owners have a few different ways of paying for their new business. Which one is right for you will depend on your financial situation, the sales price of the business, and how willing the seller is to work with you.

  • Seller Financed. Seller financing is not as uncommon as you’d think. In addition to being the least expensive, it is also the easiest type of financing to obtain. Under this option, the buyer provides the seller with a percentage of the sale price upfront. The seller takes the remainder in the form of a promissory note, which the buyer pays back with interest. Interest rates are often lower than a bank’s rates, but the payback term can be shorter too. 3-5 years is typical. If you can find a seller who is willing to finance you, take that as a good sign that if you purchase the business and run into issues or need some short-term guidance that they will come back and help you. The sellers are interested in making sure the business is successful so that the Buyer can finish paying off their note. It means the seller has high confidence in the success of the business, even after he or she hands over the reins.
  • Lender Financed. Lender financing, or debt financing, is a typical bank loan. You will provide some amount of money down and the bank or lending institution will finance the rest at a certain interest rate and for a certain period of time. Business loans are not like home loans, though, so don’t expect to find lenders willing to provide a long-term loan. The lender will want proof that the business is viable so you’ll need to provide an earnings history in addition to your down payment. Many bank loans are guaranteed by the Small Business Administration to encourage lending.
  • Personal Financing. Another form of debt financing is to obtain loans from friends, family, acquaintances, or peer-to-peer lending networks. You would work out the terms of the loan (amount loaned, payback period, whether or not interest will be charged, etc.) on your own for each debt taken on. If you go this route, make sure you can uphold your end of the deal and that your financier can afford to loan you the money. That will ease any stress that may arise from personal financing.
  • Other Options. There is always the option to cash in any retirement accounts or sell any equity shares you will have in the business as a way to finance it. Factoring companies are another option. These companies will upfront you cash for the amount of accounts receivables that are outstanding. You may not be able to do this to buy a business, but you can do it afterwards as a way to gain cash.

Learn More About Buying A Business And Your Finance Options From Crowne Atlantic Properties

Financing a business will be different for everyone. So much of it depends on the business for sale, the seller’s interests, and the buyer’s capabilities. For help finding the right business to buy in Florida, contact Crowne Atlantic Properties at 407-478-4101. We can help you with all steps of the business buying process from sourcing a business, negotiating the sale, and identifying finance options.

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Keeping It Quiet: 4 Tips To Maintaining Confidentiality When Selling A Business

Sometimes, many times actually, business owners don’t want the fact that they are selling or contemplating selling their business to be public knowledge. They may not want to scare away good employees. They may not want their family, friends, or customers to know they’re planning to sell. Whatever the reason, confidentiality is something to be taken seriously in any business sale. Yes, eventually word will get out but it should be on the owner’s terms, when he or she is ready to make the announcement and face the inevitable questions that arise from it.

Until that time comes, here are four tips you can use when selling your business to keep things confidential.

4 Ways To Maintain Confidentiality During A Business Sale

  1. Blind Advertising. The simplest way to make sure no one knows that you are the business owner behind the sale is to simply withhold certain information. It’s called blind advertising and it’s a very common practice. When you advertise a business blindly, you may withhold information about the business owner and/or the name of the business. The goal here is to get calls about the business. To do that, you don’t need to provide such detailed information as the business name. For instance, ads can be written to provide all of the relevant information a buyer needs to decide whether or not they want to learn more about the business without revealing the name of the business or the owners. Ads may contain information about the industry the business is in, the size of the business, number of employees, and general location. Done properly, none of this information should reveal the exact business that is for sale. Once you see the ad, ask yourself, “Could someone tell that this is me, based on the ad?” if the answer is No, run it. If not, re-write it until you’re satisfied with the anonymity.
  2. Confidentiality Agreements. Another key component to keeping things quiet is the confidentiality agreement. If you are serious about maintaining confidentiality, interested buyers MUST sign a legal confidentiality agreement BEFORE any of your personal information is released to them or they even learn the name of the business. This will provide you with legal protections if the buyer spills the beans. This is also the time to look into the buyer’s qualifications and make sure they are serious and capable of making the purchase. If they’re not, don’t bother giving them confidential information. Talk to your business broker about this aspect of selling the business in Florida. Any responsible business broker will totally back you up on this and will even have approved confidentiality agreements ready to go as soon as you sign on with them.
  3. Have An Answer Ready. Despite your best efforts, word may leak out and you’ll find yourself fielding questions from staff and customers. Be ready for this with a believable answer. Don’t panic or read too much into them; most questions are simply innocent inquiries. If you are ready to tell them the truth, go ahead. If you’re not, try to deflect the question until you are ready (you never want to say too much too soon).
  4. Take Control Of The Process. Even if you have a signed purchase agreement in hand, the time for confidentiality may not be over. Come to an agreement with the buyer so he or she knows when and how the employees will be informed of the sale and by whom. While some key employees may need to know earlier, we often advise our clients to wait until the closing has occurred before letting the entire staff know about the sale. You just never know what might happen before ownership is officially transferred over and it’s not worth the stress and strain of worried and panicked employees to make announcements prematurely.

Maintain Confidentiality With Help From Crowne Atlantic Properties

Maintaining confidentiality during the selling process is important, but it won’t break the sale if word slips out. For help listing or selling your business and ensuring it’s kept confidential, contact Crowne Atlantic Properties at 407-478-4101.

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Getting Ready To List Your Business For Sale? 5 Reasons To Consult a Business Broker First

Selling a business is as serious a step in your career as buying it was. You’ve likely devoted years of your life, and plenty of your finances, to the business. Saying goodbye isn’t easy, nor is it simple. Business brokers can help you negotiate the practical and the emotional aspects of selling your business while making sure you get the best deal possible.

5 Ways Business Brokers Can Help In Selling Your Business

  1. Representation. A business broker represents you to buyers. They are the first point of contact for buyers who are interested in your business and can negotiate on your behalf. They can save you from wasting time with unacceptable buyers, sending only the most serious and qualified buyers your way. Representation during negotiations can also help when things get tense and you need to maintain a good relationship with the buyer for transition purposes.
  2. Setting The Right Price. Setting the right price from Day One is essential to selling your business. Too high of a price will turn off buyers. Too low of a price will hurt you. And in either situation, you may find yourself performing more negotiations than you’d care to. Business brokers have the tools and experience needed to set the right price for your business in your market. This moves the sale process along smoothly and reduces the amount of back and forth time spent negotiating.
  3. Reduce Your Stress Level. Even if you are selling your business, you still have to run it in the meantime. Both selling a business and running it are full time jobs. A business broker can handle what they do best – selling a business, while you handle what you do best – running the business. When you list your business with a business broker, you’ll benefit from 100% attention on selling the business while you keep it up and running. Your stress level will thank you.
  4. Finding The Right Buyer. Finding a buyer isn’t the same thing as finding the right buyer. The wrong buyer can draw out the process, be a poor fit for the company culture, have plans for the business that you would not want to see come to fruition, or may require a much longer transition period than you want to provide. Business brokers can help you set up parameters for the sale and evaluate potential buyers based on those parameters as well as what the buyer brings to the table.
  5. Independent Analysis. It’s rare to see a sale where the buyer and seller agree on everything right away. It’s much more common to be faced with options, changes, and requests that all need to be evaluated. A business broker provides independent analysis of offers and requests and can advise you on solutions.

Selling Your Business With Crowne Atlantic Properties

These are just a few of the many benefits a business broker provides. To learn more about selling your business or to list your business for sale, contact Crowne Atlantic Properties at 407-478-4101.

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5 Common Mistakes When Selling A Business

Selling a business isn’t as easy as waking up one day and posting a For Sale sign in the window. At Crowne Atlantic Properties we’ve seen our fair share of business selling mistakes. To help you avoid making the same mistakes, we’ve compiled a list of the 5 most common mistakes sellers make when selling a business.

The 5 Most Common Business Selling Mistakes

  1. Timing. It’s true that the best time to sell a business is when you don’t need to. This gives you the freedom to choose the best time to sell and the luxury of time to wait for the right offer. It’s true, life doesn’t always work out for this to happen, but if possible don’t rush into selling. If you can, wait until profits are high, turnover is low, and/or demand for your product or service is great. It will be much easier to attract the attention of buyers and justify your sales price if the business is doing well. In an ideal world, buyers and bankers want to see an upward trend for three years.
  2. No Preparation. We’ve seen too many business owners decide they need to sell NOW and rush into selling without any forethought or prep work. This inevitably backfires when buyers ask for detailed information that you don’t have ready or if you receive an offer and have no idea if it is fair or not. Preparing to sell means deciding why you are selling, setting a goal for what you want to achieve from the sale, getting your financial information in order and ready for review, researching market pricing so you can set a realistic sale price and negotiate if necessary, and planning how to market the property.
  3. Being Inflexible. Don’t make the mistake of being too rigid, over-negotiating, refusing to negotiate at all, or ignoring feedback. Deals fall through when one side feels slighted, cheated, or disrespected. Take a collaborative approach, be open to feedback, and focus on the big picture. Everyone (the seller, the buyer, the brokers) wants the same end goal – your business to sell. Don’t get hung up on small details that can cause misunderstandings or hurt feelings because that is where deals start to break down.
  4. Pricing. This is the number one reason why businesses don’t sell. You can do all the prep work you want, have your financials in perfect order, and hit the market at the right time, but if you overprice the business it just won’t sell. This is where the advice of a business broker can be invaluable. If you are serious about selling a business, you need to price it accordingly. A valuation report can help you decide on a price that is competitive, yet realistic. Sometimes buyer won’t even look at a business if the price is too high. Not everyone wants to beat down the Seller to get a great price. Buyers need it to start at a fair price.
  5. Trying To Sell On Your Own. Many of the above mistakes can be avoided by working with a business broker. Business brokers are experts at prepping, pricing, and marketing a business for sale and then negotiating the final sale. Remember, you will still be running your business while you are trying to sell it. Can you do both effectively? Many business owners can’t. They simply don’t have the time needed to properly sell a business. You’ll also be at a disadvantage if the buyer comes in with his or her own broker who will take advantage of your lack of knowledge about selling a business to benefit the buyer. With an experienced business broker on your side, you control the process from start to finish.

    6. Avoid These Common Mistakes With Help From Crowne Atlantic Propertiess

    For help selling your business, contact Crowne Atlantic Properties at 407-478-4101. Our business brokers can guide you through the selling process, act as your negotiator when on offer is made, and help you achieve your sales goals.

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