5 Myths Business Sellers In Orlando Should Know

As business brokers serving the Orlando and Central Florida we always hear preconceived notions from those looking to sell a business and not all of them are correct.  Below are 5 myths about selling businesses in the Orlando area that business owners should know and recognize:

Myth 1

Unsolicited offers are always best when looking to sell a business in Orlando.

 

There are many potential buyers both in and out of Central Florida that would like to have more business in the area. Many are not shy about tossing offers over to many business owners in hopes that they catch an interested business owner. As you might imagine, these offers typically are not the most generous. In fact, it’s possible that many of these potential buyers are hoping to time things so that they find a potential business seller just before they decide to meet a business broker or consult their accountant or attorney. If you’re looking to potentially sell your business in the Orlando area or even if you’re not but are approached by someone asking if you would sell. Do your research first. Don’t assume that because the offer is unsolicited that you’re saving a ton of time and money. You might be leaving a great deal of money on the table and the time saved might be just a small amount. Consult a business broker in Orlando or Central Florida first. Most will meet with you at no cost because this is how they come across potential listings. There have been many times where business brokers at Crowne Atlantic meet with potential sellers and recommend they take their current offer.  Other times we know the seller can do better.

At Crowne Atlantic some of our business brokers have sold some of the most popular restaurants in Central Florida.


Myth 2

Selling Your Business In Orlando On Your Own Without Assistance Is Optimal.

 

Most money-making businesses selling for more than $200k require the help of accountants, attorneys, real estate appraisers, and business brokers. From the business broker perspective, an owner can operate their business more effectively if they do not have to deal with business inquiries all day. When business brokers at Crowne Atlantic meet with potential business sellers that have tried to sell businesses themselves always complain about buyers that drag on the process with no progress, or buyers that have no money or buyers that they feel are just not skillful enough to run their business. In contrast business brokers work to help qualify each buyer to see if they have a potential applicable skill set to take over the business. Brokers ask and discuss the uncomfortable questions as to whether or not a potential buyer has the funds to purchase the business and helps direct buyers to the appropriate people that might be able to help with financing. Furthermore, business brokers help keep business sales confidential from the business’s customers and competitors and can make recommendations to the seller on the best buyers to work with.

Business Brokers In Orlando generally provide a free consultation for business owners looking to sell a business in Central Florida.

Myth 3

Believing That A Deal Will Definitely Close No Matter What.

 

There are many catch phrases that illustrate the issues with this myth. Many say, “the deals not over until it’s over.” Others say, “the deals not over until the business seller has a check in their hands.” Business deals follow a process where items have to be taken care of in a timely manner or they might not get done. It’s the job of Orlando business brokers to set the pace of each deal and make sure deadlines are met. Does the buyer have all the due diligence their accountant requested? Does that accountant have further questions? Does the lender need more information? How should information about the buyer be packaged to the landlord to help get them approved? All of these issues sound super simple but often become very complicated and it is the business brokers role to make sure everyone stays on task. Deals can fall apart. Sometimes all it takes is a news event or a distant family member sharing an uninformed opinion. When it comes to selling businesses, most deals approach the edge of falling apart at least once or twice during the deal so it’s important to have professionals to help keep deals on track.

Downtown Orlando

Myth 4

Business owners have to take earnouts and owner financing.

 

While it is true that there are many deals where business sellers in Central Florida hold some seller notes or include earnouts, these are not requirements. Many deals include these elements but often times if business owners consult with professionals and business brokers ahead of time, they can help guide business owners into positioning their businesses to qualify for SBA financing which helps owners keep their chances of owner financing to a minimum. One of the other functions that business brokers in Orlando serve is to let potential buyers know some of the seller’s expectations when it comes to financing and earnouts. In some unique cases these elements are needed, however they are not required for sellers even though buyers will often claim a seller will not be able to do a deal otherwise. I’m these instances speaking with an Orlando business broker, a professional lender and other professionals ahead of time can help potential business sellers explore their options.

The business brokers at Crowne Atlantic specialize in Selling Large Manufacturing and Distribution Companies in Central Florida.

Myth 5

No special preparation is necessary when looking to sell your business in Central Florida / Orlando.

 

Have you ever sold a car or a house? Did you wash and detail the car before you showed it to a potential buyer? Did you paint the house, mow the lawn and add a few plants when you showed your house? Prepping a business for sale is no different except a business owner needs to know what buyers are looking for. It helps to have a clean business area, good books and records, equipment in good condition, clean books and records and a reliable team to help operate the business. Our business brokers meet with owners looking to sell businesses throughout the mid-Florida area and we often consult with business owners way ahead of when they are planning on selling. We discuss with business sellers on how to organize their financials, their teams and their operations.

 

If you’re asking yourself, what I should I be paying attention to when I want to sell my business in the Orlando or Central Florida area call the Business Brokers at Crowne Atlantic at 407-478-4101.

Other Articles on Selling Businesses in Central Florida that you might like:

How Can I Sell My Business In Orlando Confidentially?

When is the right time during the year to sell your business in Orlando?

Myths Busted: Popular Buyer Myths When searching Businesses for Sale.

Selling A Business to the Right Buyer in Orlando

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5 Ways To Help Your Business Sell During Unprecedented Times in the Orlando Area

When looking to sell a business in the Orlando and Central Florida area during unprecedented times there are a few different ways to help your business sell. In the last 15 years the Central Florida area has been hit by harsh storms and depleting recessions. These events would affect businesses for months and sometimes years afterwards. In the more present time we realize that shutting businesses down for a couple months due to national health concerns is now a reality.

Whether there is a hurricane, a recession, a real estate drought or a health issue that threatens business in Orlando, there is always still a market for selling businesses. Buyers are always looking for potential deals. Some opportunistic buyers even feel that buying in a down economy is more advantageous for them. When it comes to sellers, many have planned on selling their Orlando based businesses for years and feel that a single event should not prevent their plans from moving forward. Below are 5 ways to help your business sell during unprecedented times in the Orlando area.

1) If it is possible to keep your business open in any capacity, keep it open.

Obviously in unprecedented times some businesses have to shut down. In the past hurricanes and other larger storms have shut businesses down due to safety or power outages. Potential business buyers will study closely how a business performs during a crises period. After all, most buyers will feel that if they see a business weather a catastrophic event that this might be an example of the worst they would potentially experience. If you can stay open, even at a half capacity, stay open. It will look better if you can stay open. If you have to close, do whatever you can to preserve the integrity of the business as far as keeping up with the premises and doing what is in your power to take care of your employees and customers in whatever capacity you can.

2. Be prepared to show financials.

Financials have always been important for business buyers to see. Most buyers look at financials as a type of cliff notes to help them quickly understand how a business works. Be prepared to show year after year comparisons on your financials. For example, if you are showing your business for sale to a buyer in May, and there has been an unprecedented event, be prepared for buyers to ask for financials from January to May from the current year and January to May for the year prior. Orlando business buyers will want to compare financials numbers to see how the business weathered the storm or any other event. If your business is shut down for a period of time buyers will definitely expect your financial numbers to be up to date because they will feel the sellers have more time to put the financials together.

3. Make sure there are plans in place for your employees.

Some businesses have more options than others, but business buyers will examine how you treated your employees during unprecedented times. If the business stayed open were you able to give the consistent work and consistent pay? Did you provide them with any private assistance? If workers had to be furloughed did you the owner of the business provide any assistance to help ensure your workers applied for and received those benefits. Often times workers do come back to work for businesses when economies pick up so as a business owner and especially one looking to sell a business it is important to makes those employees feel valuable because both a business buyer and a business seller will want those employees to essentially come back to work.

4. Make your business stands out during the unprecedented period.

There are many ways businesses try to stand out during times of crisis. Some businesses sponsor special causes or events. For example, a restaurant might bring catered lunches to medical staffs or they might deliver critical living supplies to homeless shelters. Some businesses even offer delivery or special take out services to help gain more potential customers. One should always work to make their business stand out from the crowd. It is especially important during times of crises. Sometimes it is as simple as sending all of your customers an email and wishing them well and either stating your company is open or your company is opening and servicing customers soon.


5. Determine whether or not your business selling in Orlando is thought to be critical or nonessential and follow the necessary protocols.

Is your business one that stays open regardless of the environment at hand? If so you want to make sure that all the equipment and people are in place to handle events at the time when they occur. That means having the right insurance, the right emergency protocols and the right supplies. Does your company have some emergency gallons of gas in the event gas stations shut down. Does your company have the right safety to weather the event at hand whether the equipment is masks, food, batteries or other necessities. If you business does have to shut down for a period of time during an unprecedented event it is important that the business still continues to be cared for. Perhaps this is a great time to paint walls, retrain some workers, or take some online business courses for yourself. As an example, a road construction company might find that an economy temporarily shut down might provide them with an excellent chance to handle more projects while taking advantage of less populated highways.

Putting all of these processes and thoughts to work can help Orlando area business sellers market their businesses for sale during unprecedented times. If you’re asking yourself, can I sell my business in Orlando during tough economic times the answer is yes. Check out these ways to help a potential sale and if you have any questions on selling your business in the Greater Orlando area or throughout Central Florida call the business for sale experts at Crowne Atlantic at 407-478-4101.

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Selling Businesses In A Down Economy In Orlando

When economies slow down it always forces individuals to think twice about their actions especially when it comes to business. Business owners and business buyers often ask business brokers at Crowne Atlantic how the business for sale market is. The reality is that when it comes to Central Florida and the Orlando area there is always a market for good businesses.

At any given time there are always plenty of business owners that are looking to sell regardless of the overall economic situation. Often times these businesses have some stability built around them where they have a regular set of customers they work with on a regular basis, or they are companies working on long-term contracts or they are businesses that provide what are now known as essential services. While there are some that might claim any business owner that is selling is due to economic fear, the reality is that many business sellers have been planning to sell their business for a while just as plan to get married or buy a home they also plan to retire or relocate. Some business owners sell due to poor health or due to time constraints. At the end of the day the Orlando business brokers at Crowne Atlantic can always point out to great businesses for sale to business buyers searching for business opportunities. So if you own a business in the Orlando and Central Florida area and you’re wondering, “can I sell my business in Orlando during a down economy?” The answer is “Yes!” If it is a good business or a great opportunity one can always sell a business in the Orlando and Central Florida area regardless of the current economic times.

If you would like more information on selling your business in the Orlando or Greater Central Florida area contact the premium Central Florida Business Brokers at Crowne Atlantic Properties at 407-478-4101 or check out our website at www.crowneatlantic.com.

You may also be interested in other articles on selling a business in Central Florida:

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

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

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Bringing Value To Your Business When Selling Businesses in Orlando

When buyers are looking for businesses for sale in the Orlando here are some key items that bring value to the business you’re selling.  area there are key factors that buyers are searching for.

These factors include:

1) Clear financials detailing all of the expenses, costs and profits

Business owners love hiding personal expenses and cash to avoid paying more in taxes, but the more income that is hidden, the less income that potential buyers can see. Ultimately the better your record keeping, the more you can sell your business for in Orlando.  

  • Orlando Business Brokers at Crowne Atlantic

2) Local Branding

Local branding is important for all businesses both large and small.  While the Central Florida area continues to grow it is still a small community where many people know one another.  Excellent branding displaying a company that is well-known sets a business apart from other businesses looking to sell.  The fact that a brand is known or memorable can be a main driver to a sale.  As Orlando business brokers we love disclosing a buyer on a business for sale and hearing from buyers: “I’ve ordered from this company before, I’ve seen their signs before, I get mailed advertisements from them or they’re trucks are always driving around town.”  We know that familiarization with a local brand can easily help close a business sale.

3) A Sales Portal

A business that clearly can show potential business buyers how the business finds, receives and obtains customers is always a winner.  Orlando Business buyers like specifics when possible and if it’s not confidential knowledge that could put the business at risk, even better.  For example, if a business owner tells a potential buyer that customers come to them because they have good service, it’s an okay response. However, if a business owner tells a potential business buyer that customers come to them because their business has a strict follow up process where customers are called every 30 days for 6 months after a purchase than the business is a lot more attractive.

The more a business for sale in the Orlando and Central Florida area has it’s own branding and exclusive contracts and customers the more potential buyers will value the business.

4. Exclusive Contracts

Does your business have exclusive industry contracts that no one else in your industry is privy to?  If so, that is a large driver for business value.  In fact, there are companies in the same industry that will buy out a friendly competitor simply to obtain exclusive contracts from customers. 


5. Location 

Location is a bigger deal for some businesses than others, but if an Orlando-based business happens to have a great location, it is always a great idea to play that up.  Good locations can be considered good because they are in nice areas, in heavy traffic areas, populated areas, or they are positioned well geographically. 

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Orlando Business Brokers – Not All Tax Record Deductions Are Equal.

When selling a business in the Orlando and Central Florida area it is important to have your financial figures in the best shape possible. At Crowne Atlantic, our Orlando Business Brokers work with potential business sellers and make recommendations on how a seller’s financials can look the most attractive. One of the benefits of being a business owner is having the ability to make personal deductions, one that a person who works a job might not be able to take advantage. Sometimes however business owners can get carried away with what they deduct and it is these questionable deductions that can cost a seller a higher offer from buyers when looking to sell their businesses. Tax records and financials all around are extremely important when selling businesses in the Orlando area because often times the buyer and seller do not know one another and the buyer might be new in town so they may have nothing to go off of but the tax records. Businesses with the cleanest numbers and the most easy understand business deductions typically sell for the most amount of money.

Marked below on the sample tax form is what most buyers and what most SBA lenders will first look at when evaluating earnings and potential deductions on a tax record. We circled them in red below. The three most popular business deductions the officer’s salary, depreciation, and interest expense columns. Buyers, accountants, lenders, and even attorneys will look at those three columns and add those numbers to the taxable income column first and foremost. These are what we call good deductions. See below:

Other examples of good deductions include amortization and owner’s health insurance because these are good and traceable deductions.

Here’s a list of other deductions that business owners often make that are not as good. Both Business brokers and Business Owners will factor them into the earnings when they show the seller’s discretionary income but they are not as accepted by buyers.

This list includes:
Auto gas (for personal use), Company Car (for personal use), Cell Phones (owner’s phone, spouse’s phone, kid’s phone, dog’s phone), Meals and Entertainment, Bad Debt, Advertising, Legal Expenses, Accounting Expenses and there are many more.

When evaluating businesses for sale in Orlando, there are good personal deductions that buyers can factor in and then there are deductions that are not as good.

None of these business deductions are bad, but they simply are not as good as they could be. A few thousand in deductions here and there is not a bad thing either, however deals become more difficult to pass through due diligence when these personal deductions become more sizeable. For example, using half the company’s earnings to pay for a Range Rover for personal use might create more issues than it’s worth. Another example poor deduction usage is putting expenses through the Cost of Goods section because it makes deductions much harder to add back.

As business brokers working in the Orlando area since before 2004, we work with business owners to position their financials and show buyers a true reflection of what the income of a business truly is. We provide this service on a regular basis and we sell businesses that have plenty of deductions all the time. Having fewer business deductions and having easier to trace deductions simply increases the chances of a business owner selling their business for the highest price.

If you have questions or need clarifications on how to better position your tax records and financials for an upcoming business sale please feel free to reach the Orlando Business Brokers at Crowne Atlantic Properties at 407-478-4101.

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Top 10 Tips For Buying A Pool Route Service Businesses In Orlando

In many parts of the country households, apartment buildings , condos and hotels do not have swimming pools and if they do they are not used year round. In Orlando and the Central Florida area we use our pools and even when we are not we have to keep them looking full, bright and clear year round. In other words, the pool service industry is a big business. If you want a piece of it, check out some of these tips for buying a pool route service business for sale in the Orlando and Central Florida area.

  1. Starting From Scratch.

    If you’re a beginner starting from scratch try buying a route where an actual business transfers with the accounts along with a name, website, equipment and hopefully a familiarization period.
  2. Condition of Equipment

    When buying equipment with a route check out the condition of the equipment. If it’s not great, see if the seller will upgrade it or discount the price slightly to reflect that you will need to replace the equipment soon.
  3. Truck Included?

    When seller of the pool route business is willing to include their truck with the business purchase, evaluate the truck first to see what it would be valued at by itself. Most vehicles should be able to be evaluated by using resources such as Kelly Blue Book. Sometimes pool route owners have fancier and more lavish trucks than what is required and the additional purchase of the seller’s vehicle is unnecessary. On the flip side, if the seller has a truck that has a low value but happens to look good and be in good working condition it could be a valued asset for a new owner.
  4. Confidential Route Sales.

    Often times pool route business owners in Orlando and Central Florida will try to keep their accounts for sale confidential until a buyer finally makes a purchase or at least offers a contract with a deposit. While it might be unnerving when buyers encounter these objections try not to take it personally. Instead try your best to work with the confidentiality and work around it. Find out what areas or zones the accounts are in, find out what their average monthly service rates are, and see if you can get street and city names without house numbers. Often times finding out this information is telling enough as to whether or not it’s a workable route for you.

5. Pool Account Lists Sell For Less By Themselves And Sell For More When Sold With An Ongoing Business.

When being offered just a route with a list of accounts, these deals can be a lot less expensive, but they can also be a bit more deceptive and hard to verify accounts. One has to evaluate carefully who they are dealing with to see if their representations on earnings and profits are accurate.

6. Pool Service Businesses Sell For More Because Of More Accountability And Historical Data.

When you purchase an actual pool business you should be able to get items to help verify sales, profits and the operation as a whole. This includes tax records, account lists, and historical data on customer history. Essentially one should have a better idea of what they are buying when they purchase a business instead of just a list of accounts.

7. Obtain A Monthly Service Rate For Each Account.

Finding this information out can help a buyer establish what level of pools they would be working with. Also when subtracted from the overall sales it offers insight into how much the seller makes on repairs.

8. CPO or CPC license?

As with many trades in Florida, competition and industry inexperience is widespread. To counter this, the pool service industry has different pool license qualifications including a CPO, Certified Pool Operator (which allows for basic pools service and chemical testing. The CPC license is a Certified Pool Contractor’s license. This license allows a pool service provider to make repairs and even go as far as providing resurfacing services. If many of the pool service’s profits are attributed to repairs instead of service a non-CPC individual needs to recalculate the financials to reflect what earnings would look like for them. One should at minimum get a CPO.

9. Individual or Property Management Pool Service Accounts.

In the Orlando and Central Florida area we have a great deal of individual homes with pools but also a lot of vacation and rental homes where the accounts are controlled by property managers. Property management accounts can enable a pool service buyer to expand quicker but the profit margin per pool is much less. Individual accounts are more coveted however these pool services often take longer to expand especially if one is trying to build a close and tight route.

10. Commercial Verses Residential Accounts.

Both have their merits. Commercial accounts typically require a CPC license, they require more insurance from the operator and require multiple service times a week. They can help an operator expand immensely but these accounts can also disappear overnight too due to new management or competition. Individual accounts often turnover much less than commercial accounts. At the same time, individual accounts can be acquired much quicker than commercial.

For more information on pool service route businesses for sale or if you’re looking to buy or sell a business in the Orlando or Central Florida area call the number one Orlando Business Brokers at Crowne Atlantic at 407-478-4101.



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Top 10 Business Broker Tips For Selling Restaurants in Orlando, Florida

Selling Restaurants in the Orlando and Central Florida area can often times be an art as the supply of buyers and the type of buyers are more unique than in other parts of the country. Orlando and the Central Florida is a unique part of the country in that it is still in a population and development growth mode that has been expanding for decades. Potential restaurant buyers move to Florida every day and some are existing restaurant owners that have to decided to look into other restaurant for sale opportunities in Central Florida for possible expansion. To help guide restaurant owners looking to sell their restaurant businesses in Orlando and the Central Florida area we developed this list of top 10 tips to selling your restaurant in the Orlando and Central Florida area.

  1. Keep Good Books And Records

    The old school method of keeping a black book in the back room showing the cash that the owner is hiding just does not cut it anymore. If you’re looking to sell your restaurant in the Orlando and Central Florida area for the highest price, the more earnings an owner can show on the books, the better. When business brokers in Orlando show restaurants, often times the first question we get from buyers is, “how are the financial records?” Finding restaurants with good books and records is one of the greatest challenges for business buyers in Florida. Technology has helped by introducing more POS systems and credit card reporting systems into the mix however nothing beats tax records when it comes to showing buyers a restaurant’s earnings. The more earnings and profits a restaurant owner shows, the higher the price they can obtain from a potential restaurant buyer in Orlando.
  2. Keep Your Restaurant Premises Clean and Up To Date

    Just because your financial earnings are great or you have what is thought to be a great location does not mean you’re work is finished. Restaurant buyers in Orlando are often checking out the condition of a restaurant’s premises both inside and outside in addition to the equipment included in the purchase price. Is the kitchen equipment old? Does it need replacing? How old are the air conditioners and when do they need replacing? Any update that a restaurant seller can do to improve or update the look of their restaurant is a plus. Restaurant buyers do factor in how much they will have to spend when buying a restaurant in the Orlando area. Often times buyers will come up with an estimate and subtract that amount from a potential offer. If you’re asking yourself, how can I sell my restaurant in Orlando? Think of it as selling a house or a car. If you would not want to purchase a messy house or a messy car, then you probably would not want to purchase a messy restaurant either. Keep your restaurant premises clean and up to date.
The Business Brokers at Crowne Atlantic Selling Restaurant Businesses in the Orlando area.

3. Know Your Lease Situation

As business brokers it still amazes us when we speak with restaurant owners and they have no idea what their lease status is. How much longer is the lease? Does the rate go up? Are there any options to renew? Having a detailed lease available for a potential restaurant buyer is critical. A landlord can easily prevent a restaurant sale from occurring by having a lease that is not compatible with a sale. While confidentiality is key, it is always best for restaurant owners to find out from their landlord what qualifications they will be looking for in a potential buyer that you bring to them. Do they need a certain amount of financial backing or restaurant experience to get qualified for the landlord? Are any potential impediments to a sale for a potential buyer? If confidentiality is a potential issue and a seller does not want to reach out to the landlord until a buyer is located they need to still find out any information they can on what it will take to get the restaurant buyer a new or assigned lease. No lease, no deal. The lease is a priority.

4. Ensure Your Restaurant Is Up To Code And Licensed Properly

Seasoned restaurant buyers and owners all know that some restaurants just are not up to code and they will inquire about it. There are occasions when restaurant owners can slide by and get away with having a permit for 50 seats but having 70 available in the restaurant or having a single bathroom when county permitting for a restaurant their size requires two bathrooms. Restaurant inspectors can also give a bad rating to restaurants based on improper food handling or a grease trap that is not deemed large enough for the business. Whatever the case may be, it is important to ensure that your restaurant is up to code and licensed properly. If you’re just hoping that no one will notice, please note that it will be noticed eventually and if there is a serious issue the selling owner will not necessarily be home free just because they sold the restaurant. It is best to make sure things are properly in place prior to the sale.

5. Manage Your Online Reviews

In some instances online reviews are just as important as a restaurant’s locations. In the Orlando area where most people drive when going out to eat, locations play a slightly lesser role when decide where to eat and online reviews have started filling that void. Part of the reason is the increase in usage of food delivery services. Customers not familiar with particular restaurants will take a look at the online reviews and decide whether or not to order from there. Online reviews do not have to be perfect and often times they can be unfair to the restaurant owner, however restaurant buyers do look at them when they are looking to buy a restaurant. If the online reviews are way out of control and loaded with horrendous comments restaurant owners need to figure out the source and try to correct the issues. These reviews become part of a restaurant’s overall reputation so they are important to keep track of.

6. Keep The Sale Confidential

The business brokers at Crowne Atlantic have one rule when it comes to confidentiality which is, “Tell no one, or tell everyone.” Ultimately we recommend keeping potential sales confidential from competitors, employees, customers, and the general public. The only reason we say tell no one or tell everyone is because if a restaurant owner tells only a portion of the people their restaurant is for sale, the other portions typically find out. So in those instances it is best to control the narrative and there are only a few instances where restaurant sellers would want to be open to the public about a potential sale. Typically when employees find out about a potential sale it can create headaches for an owner because now they will have to field questions from employees about the unknown after a sale takes place. Better to save those issues for a time later on when a sale and a buyer are in place and an owner can have actual answers available for their employees. It is also advised that restaurant owners keep business sales confidential from the customers and competitors as well because that is where rumors typically begin and typically they are not in favor of the restaurant owner. Hiring a business broker in the Orlando area can help restaurant sellers keep confidentiality by helping contain the publicity of the sale to those potential buyers that are actually interested in the restaurant. Orlando Business Brokers also make sure buyers are qualified, sign nondisclosures and they help keep the contact with the seller to a minimum.

Kitchen staff working hard to keep the restaurant going.

7. Produce An Equipment And Asset list of What The Sale Includes

Do you have a favorite picture in your restaurant left to you by your Great Aunt and do not want that included in the sale? You should probably remove it before you start showing the restaurant to potential buyers. When showing the restaurant, keep in mind that potential buyers typically want everything currently in the restaurant to be included in the sale. If items are not included in the sale, owners need to mention this from the start or simply remove the items from the premises. We recommend restaurant owners put together an equipment and asset list to detail everything that is included in the sale. At Crowne Atlantic our Orlando Business Brokers typically list the pieces of equipment that are rented or leased in addition to any large pieces of equipment owned by the landlord on the same list as the included equipment. This way there is a record that this knowledge was transferred to the buyer. Most purchase contracts include an equipment and asset list.

8. Keep Up With The Sales

This one should be a given, but business brokers in Orlando see it all the time. They meet with a seller that has an amazing year with record sales and profits and by the time the restaurant is listed the following year sales have dropped. There are times when a drop in sales is unavoidable but it can be discouraging to some buyers. That is why it is important for restaurant owners to give it their very best when operating their restaurant even while it is for sale because because potential buyers are paying attention. If the numbers are really good, a restaurant seller might even be able to get a better price.

9. Create An Operations Manual

Just knowing that a restaurant owner has an operations manual sends a signal to a potential buyer that this owner is organized and has put thought into a potential transition with a new owner. Details like this do offer potential buyers a little bit of comfort in knowing that if something happens to the original owner that there is still a default handbook of information that they can turn to. The operations manuals could include recipes, repair man contacts, vendor/ supplier contacts, landlord contact information in addition to past menus and ex-employees that could be contact in case of a labor shortage. Any thing that could be of help to a new owner could be in this manual. It shows that the restaurant owner takes the operation of their restaurant and this restaurant sale in Orlando seriously.

10. Highlight Any Managers or Key Staff Members Critical To The Operation

Restaurant buyers love hearing that they will not be piloting the whole ship themselves. If you have high-value workers on your staff, be sure to let potential buyers know about it. Buyers always feel that a skilled, dependable and honest staff is an added bonus because good help can be hard to find. If you do not have any dependable workers, see if you can round some up or hire a skilled manager. A skilled restaurant staff can help a new owner in their transition and can help the restaurant owner obtain a better price for their business.

If you or someone you know is looking to buy or sell a restaurant in the Orlando or Central Florida area contact the number one business brokers in Central Florida at Crowne Atlantic at 407-478-4101.

Other articles on selling businesses in Orlando that might interest you:

The Day Of The Sale Checklist For Selling A Business in Orlando

The Most Important Tip When Selling Your Business In Central Florida

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

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Case Study in Confidentiality When Selling A Business In The Orlando Area.

Case Study in Confidentiality. 

When selling businesses in Orlando it is typically vital that owners work to make sure their potential business sales are kept confidential.  The easiest way to do this is to tell only those who need to be told about a potential sale. 

This is one case study as to why confidentiality in Central Florida business is important:

Years ago, Crowne Atlantic had just gotten a deal signed for several million dollars for a construction company with a very qualified buyer.  The seller unfortunately had not adequately prepared their financial documents.  When they found themselves needing to provide updated financial information to the buyer, they had to approach their manager for the information.  For some reason the manager was the only person in the company that had access to these financial files.  They had had no idea that a potential sale was about to occur and that a purchase contract for the business had already been signed.  Against our firm’s advice, the seller told their manager the situation. What followed was no short of epic but it also caused a massive backlash. 

Upon hearing that a potential business sale was in the works the company’s manager proceeded to cry.  They expressed that they had been a part of a business that was taken over in a mergers and acquisitions deal years before and they along with many of their work friends ended up losing their jobs.  While that is not typical for main street business broker deals, this manager deemed this future to be true.  They stated that they would tell everyone in the firm what was going on.  They said that they would do whatever they could to prevent a sale and try to encourage employees to leave.  Here the seller was just looking to sell their business and provide the buyer some financial numbers.  Essentially the seller was held hostage by their manager who ultimately through their antics blocked the sale.  That manager cost their boss several million dollars. 

To prevent antics like this business sellers in the Orlando area need to be very clear about what they are expecting when putting their business on the market.  If they suspect employees or customers will be upset about a sale it is often better to not alert them unless absolutely necessary.  Typically, when business buyers purchase businesses, they typically do not make any immediate changes with employees, customers or vendors.  Everything typically stays the same so there really is no reason for employees or customers to be concerned about a business being sold. 

When the Orlando Business Brokers at Crowne Atlantic meet with potential business sellers we always make sure to go over how confidential a sale needs to be for that particular owner and that particular business.  We find out where the potential business sale needs to be sensitive.  If you or someone you know is looking to sell a business confidentially in the Orlando or Central Florida area call the best business brokers of Orlando at Crowne Atlantic at 407-478-4101 or check out our website at www.crowneatlantic.com.

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How Can I Sell My Business In Orlando Confidentially?



How Can I Sell My Business In Orlando Confidentially?

Are you looking to sell your business confidentially in the Orlando or Central Florida area but you’re not sure how?  Confidentiality is typically a huge concern when business brokers in Orlando meet with potential sellers.  At Crowne Atlantic, the business brokers rate confidentiality as the most important factor when doing a transaction.  Confidentiality is so important that most potential sellers would rather not sell their business than to risk having a rumor out there that their business is for sale.

Keeping potential business sales confidential in the Orlando and Central Florida area is important because business owners never want to concern their customers, employees, and even their competitors.

Why is confidentiality so important when selling a business in Orlando? Orlando is a small community.  While Orlando operates on a national scale with some of the world’s busiest theme parks, popular conventions and one of the busiest airports in the country, but Central Florida is still a small community.  Many business owners in the same industry know one another and many residents can identify businesses based on just a few details.  Business owners want to keep their business sales confidential in Orlando because they do not want their competitors to use this information to poach their customers.  They also do not want their customers to worry that a new owner will alter prices or not keep up with the quality of service.  Business owners also worry that if their employees find out about a potential business sale, they might leave due to fear that a new business owner will fire them or handle the business differently.    

What steps do I need to take in order to keep a potential my business sale confidential in Orlando?

One of the most important steps a business owner can take when keeping their business sale confidential in the Orlando area is to tell only who needs to know about a potential sale.  Often times business sellers choose to speak with their accountants, their attorneys, sometimes their landlords and on rare occasions a manger in their company.  It is also important to continue to operate the business normally as if nothing has changed and nothing is going to change in the near future.  Another important item to think about is confidentiality when advertising.  Often times business owners look to advertise their business for sale publicly and do not even realize that buyers without signing confidential nondisclosures will not keep a potential sale private.  One of the easiest ways to keep a potential business sale in Orlando confidential is to hire a local Orlando business broker to assist with a sale.

See Case Study on Business Confidentiality in Orlando Linked below:
Case Study in Confidentiality When Selling A Business In The Orlando Area.

How do business brokers in Central Florida help keep a potential business sale confidential?

At Crowne Atlantic, our business brokers just sell businesses in the Central Florida area.  We do not dip into all aspects of real estate.  We are not leasing agents, commercial property agents, residential agents or realtors.  We are members of the Business Brokers of Florida association and we focus on selling businesses.  We keep potential business sales confidential by marketing and advertising only the essential information that buyers require to move forward.  No more and no less.  We ask that potential business buyers fill out confidential nondisclosures, financial statements and buyer profiles prior to releasing information on a confidential business sale to them.  We also take the extra step to speak with potential buyers and work to qualify buyers prior to disclosing the details of a business on the market.  It is always surprising how often other business brokers skip this step.  Our process helps to disclose details to only the most potential buyers as opposed to disclosing a sale to the general public.  As one of the number one business brokers in the Orlando and Central Florida area we have to rely on our reputation because we are never able to publicize the names of businesses before or after a business sale in order to keep the sanctity of the business. 

While we have a large business sector, Central Florida is still a small community when it comes to business where everyone knows one another. Confidentiality helps protect the sanctity of a business while the business is in the process of selling in the Orlando area.


If you or someone you know is looking to sell a business in the Orlando or Central Florida, call us.  We service Orange, Seminole, Osceola, Lake, Volusia, and Brevard Counties. Our website is www.crowneatlantic.com and our phone number is 407-478-4101.

Other Crowne Atlantic Business Broker articles you may be interested in:

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

Selling a Small Business In Orlando, Florida

5 Mistakes To Avoid When Selling A Business In Orlando

7 Things You Need to Know When Opening a Coffee Shop in the Orlando, Florida area

Top 5 Reasons Every Business Owner Should Hire A Good Accountant


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Selling businesses in Orlando – The Best Reasons For Selling A Business in Central Florida

There are many reasons for selling businesses, here is an insight into what business buyers are looking for when business owners are selling a business.

When selling businesses in Central Florida buyers often ask potential business sellers why they are selling. There are three main reasons why buyers ask the question, “why are you selling?”

  1. Buyers want to get an assurance from the seller’s answer that they are not simply selling because the business is going down a spiral with no return.
  2. Buyers want to get a sense from the seller’s answer that they will not be looking to sell and then re-enter the same industry or compete in any way with the business they are selling.
  3. Buyers ask why an owner is selling out of pure curiosity because it helps provide insight into the seller’s overall satisfaction with the business and what their life’s status may look like when they decide to sell.
  4. Buyers may feel they can get insight into further opportunities for the business. Often times the main reasons and pain points for a seller point to an opportunity for the buyer to improve on. (Potential link to example)

Buyers want to study up on businesses they are interested in. They are optimistic but can be skeptical as well, so it is always important that business sellers answer questions as honestly as possible despite how the optics might look. For example, if the reason for sale is due to health, often times it helps to describe the details and extent of the seller’s health issue. Reasons such as health helps reassure a buyer that the seller’s reason for sale is genuine. At the same time it also helps remind buyers that there is a human element involved and the deal isn’t just about numbers and paperwork.

Below are some of the reasons for sale that business buyers in Orlando prefer to hear:

  1. Heath issues (Sickness of the owner or their close family)
  2. Family issues (Divorce, not enough time with family, late working hours or too many working hours
  3. Relocation (Seller is moving either due to job options or other options)
  4. Retirement (This is the number one answer most business buyers want to hear however in Central Florida most sales are due to reasons that are more pressing).

These are some answers that sellers give for wanting to sell a business. They are not always what business buyers in Orlando want to hear but it is always good to be honest. If a seller is selling because they are burnt out from the business, than they should mention that and also list the reasons why. The burnt out reason might be due to some of the other issues such as family and health. There are also times when sellers are looking to sell a business because they feel the business is too much for them to take on or the distance is too far. These are also valid answers as it is always best to give buyers the most pertinent answers leading a seller wanting to sell their business.

5 Ways to Help Your Business Sell in Orlando


It is important for sellers to put some thought into why they are selling because business buyers use that as part of their business evaluation strategy. If a business owner says that they are putting their business on the market just to test the market, most buyers will not be as favorable when they evaluate their likes and dislikes on a business.

If you or someone you know is thinking about selling their business in the Orlando or Central Florida area call the business brokers at Crowne Atlantic Properties. Our number is 407-478-4101.

Other articles on selling businesses in the Central Florida, Orlando, Dr. Phillips and Winter Park area that may interest you:

The Most Important Tip When Selling A Business

Keeping It Quiet When Selling A Business

5 Common Mistakes When Selling A Business In Orlando

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Asian Takeout Restaurant For Sale in Orlando

Asking Price: $199,000

Cash Flow: $92,137

Gross Revenue: $500,593

EBITDA: $92,137

FF&E: $80,000

Inventory: $3,000

Established: 2002

Business Description

Asian Restaurant For Sale in Orlando, Florida Popular neighborhood Asian take-out restaurant for sale in the Orlando area. Business has a great reputation and customer base in the local area serving a variety of Asian cuisine specialties. Purchase also includes a food truck that is contracted out to serve at different locations throughout the area. Most of the sales are from take-out and delivery. The business is easy to run and can be handled by anyone with restaurant experience regardless of their background. The seller has great books and records for the business. For more information on this restaurant for sale in Orlando please call 407-478-4101.

Detailed Information

Location: Orlando, FL
Inventory: Included in asking price
Employees: 11
Furniture, Fixtures, & Equipment (FF&E): Included in asking price Facilities: Business has a great set up for its takeout and deliver business with plenty of parking and a small area for dine-in customers. The business also has a fully built out food truck that is included in the purchase price.
Growth & Expansion: Owner could make much more use out of their food truck business by obtaining additional contract agreements and taking on additional locations and events. There are also options for additional marketing and advertising on the restaurant side. Support & Training: Owner will work with the buyer to make for a smooth and easy transition into the business.
Reason for Selling: Family Reasons

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Plumbing Business For Sale in Florida

Asking Price: $550,000

Cash Flow: $197,639

Gross Revenue: $847,621

FF&E: $77,700

Inventory: $30,200

Established: 1950

Business Description

Plumbing Business For Sale in West Florida Plumbing business for sale in the West Coast area of Florida. Established over 70 years ago this fine Plumbing Company serves Hillsborough and Pinellas Counties. Mainly residential with some commercial. Experienced employees and all necessary equipment and vehicles included. Great reviews and excellent reputation in the community. Operates from two adjacent warehouses. Great opportunity to buy this well known business and take it to the next level. Excellent financial records – perfect for a visa and the seller will help with transition.

Detailed Information

Location: Tampa, FL
Inventory: Included in asking price Employees: 10
Furniture, Fixtures, & Equipment (FF&E): Included in asking price Facilities: Two office warehouse units.
Competition: It is hard to compete with a business that has been in the plumbing industry for over 70 years. Support & Training: Owner will work with the buyer to make for a smooth transition into the business.
Reason for Selling: Seller plans on relocating.

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When is the right time during the year to sell your business in Orlando?

When is the right time during the year to sell your business in Orlando?

As business brokers working in the Orlando and Central Florida area for close to years we often get these questions from potential business sellers:

  1. When is the best time to sell a business in Orlando?
  2. Is there a good strategy time a sale sell my business in Orlando and exactly when I want?
  3. Should I wait until next year to sell my business?
  4. If I list my business for sale in Orlando now, how long will it take to sell?
In the Central Florida and Greater Orlando area, any time of year can be a great time of year to sell a business.

The best time to sell a business in Orlando.

First thing is first, if you have to sell your business then you have to sell. With modern technology most of the forums that business brokers use have alerts that potential buyers can sign up for meaning that whenever you decide to sell hundreds and potentially thousands of buyers will be notified. It is also helpful to pick times of the year when people are generally working. Obviously if you put your business up for sale right before New Years or the week of July 4th there may not be as many buyers but if you have a good business that is well-priced any time could be a good time. Avoid weeks with major holidays, big vacation time periods, or the weeks of school year registrations and graduations for the best reach upon launching the business for sale.

The business brokers at Crowne Atlantic selling businesses in Orlando.

Is there a good strategy time a sale and sell my business in Orlando exactly when I want?

January to May is generally a good time period of year to sell a business in Orlando. Many people are working on their New Year’s resolutions to sell or buy a business in Central Florida. The drawback with this time period is that many business owners have not completed their tax records until mid April which can slow up the selling process. The period of time between the second half of September to the week of the Thanksgiving holiday in November is also a good time period when selling a business in Central Florida. The reality is that the Orlando business brokers at Crowne Atlantic have put businesses under contract at almost any time period on the calendar. So it’s best to stick with selling when you need to sell. If it’s a good business at a good price it might be able to sell at any time of year.

Orlando is a great place to own and run a business.

Should I wait until next year to sell my business?

There are only a few instances where waiting until the following year might be beneficial for a sale. The main reason a buyer might want to hold off on selling is to reflect the sales and profits they have earned over the year on their tax records in an effort to receive higher offers from potential buyers. Another reason to hold off on selling a business in Orlando is if a business has too much in inventory or assets to the point where a sales price might need to be unusually high to cover these expenses. In this instance sellers might want to hold off on a sale until they can sell off some of the extra inventory or assets that the business has accumulated but ones that are not necessary to run the business currently. 

If you or someone that you know is looking to sell a business in the Orlando or Central Florida area such as Orange, Osceola, Seminole, Brevard, Volusia and Lake Counties, call us at 407-478-4101 or check out our website at www.crowneatlantic.com.   

For Similar Articles You May Be Interested In Click The Links Below:

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

Selling a Small Business In Orlando, Florida

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

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

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Keeping Confidentiality When Selling A Business In Orlando

Crowne Atlantic Business Brokers Selling Companies in Orlando

Keeping Confidentiality When Selling A Business In Orlando

Confidentiality is one of the primary concerns business owners have when they are thinking about selling their business in Orlando. They ask themselves how can I sell my business in Orlando when I am involved in the community and so many people know me and my company?

Other concerning questions include:

What if my customers find out?
What if my key employees find out?
What if my competitors find out?

Below are some commonly asked questions that we as business brokers typically hear. Our answers regarding keeping confidentiality should help both business sellers in Orlando keep their potential sales confidential and it will also help buyers rationalize why maintaining confidentiality is necessary and beneficial to both parties.


How do I sell my business in Orlando and keep the business sale confidential? The business brokers at Crowne Atlantic have the answers to help!

There are many reasons why business owners want to keep their potential business sale confidential. In fact, it is one of the main functions that business brokers in Central Florida serve. Business brokers help keep the sanctity of the business and the owner intact and it allows the business to be marketed to others without buyers interfering with business’s operation, or distracting the owner.

What advantages does a business seller gain by keeping their potential business sale in Central Florida confidential?

Most business owners want to keep the potential sale of their businesses confidential.  The main reason is a business found to be on the open market could be considered more vulnerable to the business environment.  Perhaps the customers will feel that a new owner will not offer them the same level of service or price. It’s also possible customers will be amazed at how much the owner is making and think they are being charged too much. This leads us to the reason that business owner might not want their friends, families and competitors knowing how many they make or do not make. At the same time notifying potential competitors that a business is for sale could lead to competitors attempting to poach their customers away. While some of these might sound like they are on the extreme side to outsiders and potential buyers, most business owners feel these are valid concerns.

Business can be competitive in Orlando, be sure to keep your business confidential when you are looking to sell.

How do business owners keep business sales confidential?

The best way a business owner can keep a potential sale confidential is to tell as few people as possible. Those buyers that are are told about the potential sale should sign confidential nondisclosures prior to receiving information. Possible exceptions would include their attorney, their accountant and sometimes their landlord. Anyone who would be aiding or assisting in the Sale is often exempt. Hiring a competent business broker in the Orlando area can help serve this function but the business owner has to do their part as well. We recently had an owner tell a manager they “trusted” about the sale.  By the next day, every employee knew about the sale.  This is why some owners don’t share with even key staff that they want to sell a business in Orlando because sometimes people think a secret is too good to keep!


How do business brokers market my business for sale without divulging the name or identity of the business?

One of the main differences between business brokers and ordinary real estate agents in the state of Florida is the methods each profession uses to market. In Florida, business brokers have to be licensed under the Division of Real Estate. There are times when a real estate agent commercial or residential tries to sell a business and typically they do it the same way they sell a piece of property. They show names, pictures and divulge everything to the public. All of a sudden people from all walks of life start approaching these businesses asking the employees and the owners in front of customers if the business is for sale. These incidents disrupt business operations and cause employees to worry and wonder why they have not been informed about a sale. It also causes major headaches for business owners especially if they have a high-profile business. Most real estate agents do not even know the purpose of confidentiality and normally do not find out until damage has already started. There are many businesses that do not even have common retail or commercial office premises and without those segments the typical real estate agent does not have the ability or knowledge on how to market the remaining attributes of the business.

Business brokers in Orlando on the other hand use an approach where we use brief descriptions, the sales, the earnings and other attributes to market the business while keeping the name and location secret. It is a technique that has to be practiced before it is learned and that is why it helps to work with a seasoned business broker in the Orlando area as opposed to a real estate family friend or novice.  Do you really want to entrust a multi-million dollar sale with someone who hasn’t sold a company before or isn’t a seasoned expert in Business Brokerage?


It is very common for business brokers in Orlando to ask buyers to sign nondisclosures prior to release details on a business for sale. Typically a nondisclosure is signed before details on locations, financials, and operations are released.

What function does a confidential Nondisclosure serve?

Typically, when a business broker finds a potential buyer, they ask that buyer to fill out a confidential Nondisclosure. That Nondisclosure states that buyers will agree to keep potential sales confidential and they agree to not divulge or use any information discovered in the discussions and information exchange involved in the sale. While a Nondisclosure is only as good as the buyers that sign them, the business brokers at Crowne Atlantic typically make it a point to discuss the businesses and Nondisclosures either in person and over the phone to make sure buyers know the expectations of what they need to do in order to keep the business confidentiality typically discussed at this time. The Nondisclosure also registers the Buyer with the Broker on a specific business enabling the Broker to verify to the Seller that the Buyer was introduced to the opportunity through the Broker.

Can I show this information to my accountant, attorney, partner or father-in-law?

This is actually a very legitimate question with varying answers depending on the type of deal you are working on. Some businesses have to be kept strictly confidential so Nondisclosures must be signed by everyone. However, if it is a typical Main Street business for sale in Orlando most assisting professionals like professionals and accountants are aware of the need for confidentiality and typically have to keep materials in their field confidential to begin with. Business partners, father-in-laws and anyone part of the business buying party should be signing a Nondisclosure.

If you have additional questions on keeping your business confidential or if you’re just thinking, how can I sell my business in Orlando or the surrounding …….area contact us. We can often times offer information on what potential business buyers look for and estimate what value buyers might place on a business. The business brokers at Crowne Atlantic can be reached at 407-478-4101 or check out our website at www.crowneatlantic.com.

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How To Survive Your First Business Sale In Orlando

How To Survive Your First Business Sale In Orlando

While it may sound a little dramatic the reality it is always best to be prepared at all times to be able to sell your business. You never knows what will happen in life and if you wish to or have to sell your business quickly in Florida there are some tools and measures that you will need to have in place.

Below are the “MUST Have” ready items when wanting
to sell your business in Orlando:

It is always a good idea to keep good books and records when looking to sell a business in Orlando.

1. Updated Tax Returns

Yes, updated tax records means one needs their most recent year Tax Returns completed. Business buyers do have higher expectations when they see a business for sale, just as a home buyer expects a house for sale to be in tip top shape a business buyer acts no differently. Business buyers do not want to hear “my accountant did an extension.” Remember your accountant works for you. If you need your tax records completed the accountant needs to be instructed to make them complete, and they can only complete that task if you have everything ready for the accountant.

When you receive the tax records, review them. Ask yourself if the tax returns make sense to you?
Do the financial numbers make sense to you? Will the numbers make sense to a potential buyer or a bank so they can offer a buyer financing?
If a business for sale cannot qualify for an SBA loan for a buyer, it does tend to lower the overall value because fewer buyers can afford to purchase the business.

Profit and loss statements display the inner workings of a business that is easy for potential buyers to decipher.

2. Updated Profit and Loss statements and Balance Sheets.

The profit and loss statements typically itemize business expenses better than tax records do and often times they are easier for potential buyers to interpret. We had a Seller who was selling their business in Winter Park and they told us, they only do their accounting once a year and had no idea what their financials looked like until the end of each year. This was shocking to us because they had a net of $800,000 per year on average. We suggested they have their accountant do monthly statements. When we put that business on the market, it was under contract in 5 days. Why? It was prepared. The financial numbers were ready and we were able to put together a great package about the business that we prepared. Is your business broker preparing a detailed Buyer Memorandum on your business? If not, they need to. Businesses tend to sell quicker and for more money when a business for sale information package is put together for potential buyers.

When selling a business in Central Florida it is always important to detail out what equipment is and is not included in the sale of a business.

3. Detailed list of Equipment.

Can you list everything that is included with the purchase of your business? If not, potential buyers will not be able to either. If you have big equipment or vehicles in your business, there needs to be a detailed list of everything included with the business. If you do not want buyers to think your brand new fancy pick up truck is part of the business purchase or you’re only including the necessary portion of the equipment and selling off the rest separately that needs to be made clear to potential buyers. That means business owners need to put together copies of titles, VIN numbers, when it was purchased, repair and maintenance records etc in addition to an equipment and asset list detailing what is included in the purchase of the business.

A processes and procedures manual signals to a buyer that a business is organized.

4. Process and Procedures in Place.

Business owners cannot assume that simply because they are bringing in an experienced buyer right away that they will automatically know where everything is and will require no training. A manual or even a contact list with vendor contacts, employee contacts and pass codes is a tremendous help for buyers after the purchase of a business. Recently our business brokerage sold an internet business for sale that had a robust Amazon account as well as an extensive list of wholesale customers such as The Container Store, Bed Bath and Beyond, and QVC. The business required a buyer to manage a lot of moving parts, but fortunately this seller was prepared and had the most amazing procedures manual in place digitally as well as physically in a binder. These procedures included contacts, emails, shipping instructions down to the size boxes and pallets that each customer likes. Yes, we all should go paperless, but this binder of procedures was worth millions to a new owner. It helps continuity and it makes a transition easier for both the buyer and seller and this booklet was one of the reasons the seller was able to receive an all-cash deal!

Key employees are always critical to the success of a business.

5. List of Staff

Buyers are looking for stability, continuity and a future when buying a business in Central Florida. They want to see an established and stable staff that are paid appropriately and paid on the books. Buyers want to have a good understanding of what each employee is tasked with and understand how they contribute to the success of the business. Having a qualified staff is always plus when selling a business. Sellers typically only stay on for so long, so buyers typically like the idea that they can ask a current staff member if they have a question. Having a contact list available for the buyer after the purchase helps with the transition. Just being able to tell a buyer that such a contact list exists makes them more comfortable with the business purchase.

Orlando Business Brokers at Crowne Atlantic Properties sold these breakfast lunch restaurant franchises which demonstrates that businesses can sell for high values when they are worth those high values.


6. Would you pay the asking price you have set for your business?

While this may seem like an obvious question, it is not obvious to most business sellers. Ask yourself, would you pay the price you’re asking for on your business? If not, why would a Buyer pay it? Business Buyers in Orlando are typically sophisticated, educated, and savvy. Ask yourself, can a potential Buyer obtain a loan for this business? If not, how will buyers be able to purchase it? Take the time to see if a bank will pre-qualify your business. Make sure it is not just any bank but a lending agent that specializes in SBA deals and can give you examples of deals they personally have completed.

If you are looking to do a deal right from the beginning contact us. The business brokers at Crowne Atlantic sell a large variety of businesses in the Central Florida and Greater Orlando area. We know that it takes time and skill to properly prepare a business for sale. We will meet with you confidentially and offer an opinion of value the business at no cost. This will help you decide if you’re ready to sell your business. Call us at 407-478-4101. There is no obligation and we will continue to keep all information that transpires confidential.

For more information on business brokers in the Orlando area or if you are looking to sell your business in the Greater Orlando or Central Florida area call Crowne Atlantic Properties at 407-478-4101 or check out our website at www.crowneatlantic.com.

For Similar Articles You May Be Interested In Click The Links Below:

How Can I Sell My Business In Orlando?

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

Selling a Small Business In Orlando, Florida

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

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5 Mistakes To Avoid When Selling A Business In Orlando

5 Mistakes To Avoid When Selling A Business In Orlando

When selling a business in the Orlando and Central Florida area there are some obvious items for business sellers to put into action, such as updating their financials. At the same time hiring a well-known business broker in Orlando with a track record and great reviews is always a plus. Even with those advantages however, there are many business opportunities that are marketed for sale throughout the state of Florida that do not get sold. This might leave yourself asking, “how can I sell my business in Orlando without making any major mistakes?” We want to display some of these mistakes in hopes that business sellers can avoid them in the near future. Below are some of the major mistakes potential business sellers can avoid when selling a business in the Orlando area.

Know What Brings Value To Your Business.


1) Not Knowing What Brings Value To Your Business.

When buyers are looking for businesses for sale in the Orlando area there are key factors that buyers are searching for.
These factors include:

a) clear financials detailing all of the expenses, costs and profits
b) a sales portal that clearly shows how the business finds, receives and obtains customers
c) contracts, elite customers, locations, copyrights or anything else that puts the business on top of their competitors

Business owners should work hard to cater to these desires and position their businesses to show why their business should be purchased. Some business sellers in Orlando place too high of a value on items that are not high selling points for buyers. For example, many business owners place high values on their engagement on social media boasting they have thousands of followers. While large social media followings can be a benefit, buyers only see it as beneficial if the social media shows a direct correlation to great earnings. Another example is putting too much value in a brand name, a website, or a trademark. Often times owners are quick to point out the value of their brand or their website name, however when buyers are looking to buy a business the branding is only as valuable as the earnings of the business and its customer base. Without good earnings and good customers, branding and social media will not hold much value for buyers. Sellers need to focus on where buyers prioritize their value.

Always put tools in place to help transfer a business to a new owner.

2) Not Taking Any Steps To Help The Transfer

There are steps that business owners should take when they are about to sell a business. The business should be organized and processes and procedures should be in place. All of the employees should have clearly defined roles in the business and buyers should be able to see a clear path for them to fit in. Not all business owners have that vision unfortunately. One example is when business owners do not want to leave enough time for a familiarization and training period after a sale. Other business owners have mentioned that they do not have a current lease in place for their business and just pay a landlord month to month and have no idea if a landlord is even open to hosting a long-term tenant in that space. There are some business owners that do not have any agreements with any of their vendors or suppliers and if they have agreements they have not inquired as to whether or not a new owner could work under those same agreements. The bottom line is that business owners need to make sure that everything can fall into place for a new owner and that the new owner has all of the tools necessary to operate the business after the purchase.

Business buyers want to hear legitimate reasons as to why a business in Orlando is for sale.


3) Having An Unconvincing Reason For Selling The Business

There are times when selling a business is unavoidable. Business owners have health issues, their spouse might have a job transfer that requires them to leave or even a divorce can cause a business to go on the market for sale. As unfortunately as the personal situations for the sellers may be, these are good reasons for an owner wanting to sell their business. Retirement is always the best answer, but that is not always a valid reason for a seller to give. Some business owners are simply burnt out and are looking to do something different. Business buyers typically ask business owners why their business is for sale so a business seller needs to be prepared to answer this question. No matter what the answer is, business sellers need to address two important items in their answer:

a) why the seller will not need to come back into the business and compete with the buyer (mentioning other work options such as a job, a new venture, or relocating out of the area are always a good idea)

and

b) the seller’s assurance that the business is still going strong and the seller is not leaving because the business is weak and cannot recover.

Buyers want to feel comfortable with these answers. They do not want to feel like a seller may come back and compete with them in the near future and they want to feel as though they are taking over a thriving business with lots of potential. Telling a buyer that a business is up for sale simply to see if potential purchase offers are attractive is not a great reason to mention why a business is for sale.

It is always best to plan in advance when looking to Sell a Business in the Central Florida area.

4) Needing A Quick Sale

Sometimes needing a quick sale is unavoidable. Often times the reason for sale is a serious health issue, but the reality is that needing a needing a quick sale can make a business owner vulnerable in the sale of their business. Often it leads to mistakes or leaving money on the table. For example, there was a business broker in our office that met with an owner that wanted to sell a large restaurant and bar. However, their lease was up in one month and the owner had no plans on renewing their lease so they needed a quick sale. Unfortunately, one month is not a great deal of time to sell a business. The process of transferring a lease to a new owner by itself before closing could take a few weeks. Realistically that seller would have been better off contacting a business broker in Orlando 8 to 10 months earlier. Some quick sales are unavoidable, but if you want to sell a business for a good price, the more time you have available the better.

Market your business the right way, use confidentiality, good sense and when in doubt contact a Central business broker with a great reputation.

5) Picking The Wrong Ways To Market The Business

If you’re wondering how can I sell my business in Orlando and add value there are right and wrong ways to market a business for sale in the Central Florida area. When selling a business in Orlando it is important to remember that selling a business is not the same as selling a house or a piece of property. Confidentiality is typically a key factor. For example, putting a “For Sale” sign in the front window of a business does not help build the perception of value in a business. In fact, it may send a signal to your customers and competitors that the business is in trouble or that a new owner might be coming into the picture soon and change how business is done. Yet, business owners tend to take this action or go public about wanting to sell their company all the time. If this occurs, the publicity often tends to be unfavorable towards the business because rumors rarely include the whole story, so the story becomes filled with questions and concerns. It is for those reasons among others that keeping a potential sale confidential from employees, customers and the general public can be a benefit both for the buyer and the seller. Finding a talented business broker in Orlando or Central Florida area, one with great reviews and a great track record often times is one of the best ways to market and help an owner sell their business.

For more information on business brokers in the Orlando area or if you are looking to sell your business in the Greater Orlando or Central Florida area call Crowne Atlantic Properties at 407-478-4101 or check out our website at www.crowneatlantic.com.

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Five Advantages of Using Local Business Brokers In Orlando Instead National Business Brokers

Five Advantages of Using Local Business Broker In Orlando Instead of A National Business Broker

As technology increases with website, smart phones, and online searching more companies are seeking to be business brokers with a national reach. Want to sell a business in Florida even though they are located in Chicago? No problem they figure, after all most of the communication is done by phone and email and paperwork can be shipped in from anywhere. But is that really the case? Can a national business broker or one that is located completely out of the area offer the same level of service and performance as the local business broker in the Orlando area? As business brokers in the Orlando area, we work mostly with businesses that are looking to sell in the Central Florida area. Our firm, Crowne Atlantic is licensed under Florida Real Estate law that actually allows us to legally sell businesses within the state of Florida. We have a great reputation serving the Orlando area and some of our agents have access to local buyers that we have been in contact with for close to two decades.

Lets examine some of the advantages a local business broker in the Orlando area can bring to a transaction:

Local Business Brokers in Orlando work closely with Business Buyers and Sellers to Help Transactions go through.

1) Access to buyers located locally in the Central Florida and Orlando area.

This may NOT seem important, but it can be vital when a business owner is trying to sell their business quickly. Business transactions are about momentum and when a business seller and buyer have a great conference call but the buyer says they are unable to fly over to Florida to meet for another month, it can sour the momentum of a deal. Local business buyers can typically meet a potential business seller within a day to a week of initial contact and they do not have to worry about issues such as relocation, moving costs. Plus if follow up meetings are needed local business brokers in Orlando are just a short drive away.

Thousands of potential business buyers enter Central Florida every month.

2) Local Business Brokers in Central Florida are legally licensed and able to sell businesses in Florida.

Did you know that earning a commission from a business sale in Florida requires Business Brokers in Orlando to have a Florida real estate license? Most national brokers are unaware of this law. Some even think that if they have a Securities Series 7 license that it covers them for Mergers and Acquisitions. It does not. It is actually not legal for out of state business brokers to sell businesses in the Orlando area unless they have a Florida Real Estate license. Even if out of state agents do not physically show up in Florida, simply advertising a business for sale in exchange for a commission is a dicey scenario from a legal perspective in Florida.

Local Business Brokers in Central Florida have more outlets to find potential buyers for businesses because their buyers have easier access.

3) Business Brokers that work locally in the Orlando area have more accountability to their Sellers.

A national business broker not located in Orlando or in Florida has far less accountability to perform for the business sellers. After all, when the agent does not reside locally you will never see them at the local store, a restaurant or at your child’s baseball game. That accountability matters because the local business broker needs to earn the business from the surrounding community and maintain their reputation. The national broker however can sell any where and if they are a bad performer……… it would be difficult to know ahead of time. Many national brokers even charge up front fees where the majority of business brokers in Central Florida work on a performance-based fee. If there is no sale, there is no commission.

Meeting with local Business Brokers in Orlando.

4) Local Business Brokers in Orlando can meeting with potential sellers and buyers in person.

While many meetings and showings take place over conference calls and emails there are still those times when an in-person meeting occurs. Having a business broker physically present at business showings often makes a huge difference. For starters, business deals always tend to move along quicker and more efficiently when all of the parties involved in a deal have met in person. There are always all kinds of questions that always tend to pop up during meetings by either a buyer or a seller that often times business brokers in the Orlando area can answer. Questions typically include those on the seller’s financials and any recast addbacks, referrals for local vendors that can assist in transactions, questions about processes and procedures when handling the deal moving forward and questions about the local area in general. Even when a business broker is working with extremely knowledgeable business buyers and sellers their customers might not know everything. A local business broker in Central Florida that does these types of deals every day will have a ton of information available to help both buyers and sellers move their business transactions forward and because the business broker is local they can show up to every meeting.

Higher demand for businesses leads to potential bigger offers.

5) Business Brokers in Orlando can often sell businesses for more money than a national business broker.

Orlando and the Central Florida area as a whole is a unique place when it comes to buying and selling businesses in Florida. Because there are thousands of people moving into the area every week there is more opportunity to find potential business buyers looking for potential businesses. Many national business brokers have an industry focus where they focus on selling specific industries, but often times the Orlando area business brokers have access to buyers looking at multiple industries. Often times industry outsiders will pay more for businesses because that is their way into an industry they have no prior experience in. Buyers are open to paying a premium in Orlando and the surrounding counties because the demand for good businesses is strong. Your economics class calls it supply and demand. A smaller supply of businesses for sale can lead to a larger demand and higher purchase offers. National business brokers are typically not aware that businesses in the Central Florida area can often obtain higher premiums than similar businesses in other parts of the country. For this reason alone it is important for business owners meet with business brokers in the Orlando area familiar with the area where they are located.

For more information on selling your business with a local business broker in the Greater Orlando and Central Florida area call the business brokers at Crowne Atlantic at 407-478-4101 or check out our website at www.crowneatlantic.com.

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5 Tips To Selling A Niche Business In Greater Orlando

5 Tips To Selling A Niche Business In Greater Orlando

After meeting with thousands of business owners, Business Brokers in Orlando often hear the question, “Is my business saleable?” We hear this especially when sellers feel they have a business only they alone can run. They might feel they hold too much information to transfer to a new owner, or that their business is so rare few would have the experience to run it. Another reason is the licensing required to operate the business would prevent other potential owners from buying the business. Lastly, it is possible they have too much customer concentration where over 10% of the business comes from one source.

The reality is that all kinds of businesses for sale in Orlando area with every level of difficultly can sell. The buyers that Orlando Business Brokers encounter are typically all looking for the same things when buying a business in Central Florida. They look for businesses that have provable income for the last few years and they look for businesses that are growing or they at least have potential to grow.

We meet many business owners that are not looking to sell, yet realize in the future selling will be their only option to exit the business. Many business owners worry that their companies are not saleable. Over the years we have found if a business earns an above average and provable income on the tax returns, we can sell that business.

There are some extra measures that business owners can implement to enhance their niche businesses and attract more buyers looking to buy a business in the Orlando area:

1) Make sure your business has a future.

Many business that we see have growth potential. Depending on how a business owner looks at their scenario, there are dying industries and dying businesses where the owners claim low performance is a result of a dying industry. It is all in how one looks at it. As an example, when the lightbulb was invented one would have though the candle stick making industry would be completely out of business. After all, people no longer need candles for light. Was it game over for the candle industry? Almost every big box store that sells home wares will sell candles. The candle industry did not die but it change. Make sure your business changes with the times and has a future.

Selling A Business In Orlando

2) If your business is a niche business where you alone are the sole expert, you can do several things to still help the sell business in the Central Florida market.

The most popular two are to a) bring on another key person who can be the expert for the business or b) be prepared to stay on with a new owner for an extended time period to help train and familiarize the new owner with the new business. There are other options ofcourse but these two of some of the most frequently used.

Hiring An Expert To Work In the Business is Always Helpful for an Incoming Buyer.

3) Make sure you have a diverse customer base.

Nothing scares a business buyer more than a business with only a few key customers. Some business owners that we meet with have businesses where one customer represents over 80 percent of their customer base. While we can still sell those businesses we can definitively say that the more diverse a business’s customer base is the more comfortable an incoming business buyer will be. The reason is simple, when buyers buy businesses they worry that some customers might leave……… for numerous reasons and most beyond a buyer’s control. Having a more diverse customer base makes a buyer feel as though they are increasing their odds of keeping more customers. Business Brokers in Orlando can still sell businesses with just a few customers but for the business owners looking to increase their desirability why not go out and get some additional customers! It will make the business more exciting and more profitable.

A Diverse Customer Base Can Be A Critical Selling Point When Selling A Business in Central Florida.

4) Produce a processes and procedures handbook for the business.

When we as business brokers are selling businesses in the Orlando area few things get buyers more excited than a business owner who has written everything down. One might be surprised by how many questions a new owner will have such as: who do I call to fix the big machine, who fixes the air conditioning, who is the contact person for each customer and vendor, how do I reach the landlord in an emergency and let’s not forget where is the water shut off valve? Business buyers know that their time with the business seller after a business sells might be limited. Having this information available lowers the stress of buyers so they do not feel as pressured to learn every single who, what, and why in just a few weeks.

A Processes And Procedures Package Demonstrates to Potential Business Buyers That A Seller is Highly Organized.


5) Prepare The Business For A Potential Sale To A Competitor or Industry Buyer.

There are some occasions where selling a business to a competitor in the same industry is the best or perhaps easiest option for a seller. To help prepare your business for sale make sure you can show due diligence documents to potential buyers in the most confidential way possible. Try removing the specific names of accounts to prevent easy identification but still show their performance. It also helps to have a talented staff in place. The customer base can be a big attraction for an industry buyer but at the same time a talented staff can be just a valuable. It helps to have good accounts and a talented staff that could potentially stay on to work with a new owner. Targeting others in the industry located in other communities could also be great options as buyers.

Selling A Business To A Previous Competitor Can Be A Great Option For A Potential Seller.

If you are a business owner and find yourself asking, “can I sell my business in the Orlando area,” call us at 407-478-4101 or check out our website at www.crowneatlantic.com. The business brokers at Crowne Atlantic sell businesses all over Central Florida.

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.

For Similar Articles You May Be Interested In Click The Links Below:

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5 Ways To Help Your Business Sell in Orlando, Florida

There are many ways to make a business more attractive to business buyers looking to buy a business. You might ask, what are business buyers in the Orlando area are looking for? As business brokers in the Orlando and Central Florida area, we see all kinds of businesses for sale. While every business for sale in the Orlando area is unique, most people searching to buy a business in the Central Florida area follow the same search patterns. Buyers look for the same criteria regardless of the industry. Below are some ways business owners can use to make their businesses more attractive to potential business buyers in Orlando, Florida.

Going over financial numbers is critical for any business selling in Orlando.

1) Business Financials

We never want to sound like a broken record, but the reality buyers want to see clear and easy to understand financials. The less explaining the financials need, the better.  Clean and easy to understand financials is a great way to help a business sell.  When the financial numbers are easy to understand it leads to a unifying higher opinion of business because no matter who the buyer consults with whether it be their accountant, their attorney and or even their father-in-law the financial numbers and hence the business will look good to everyone.  When everyone involved in a transaction can easily examine and understand the sales, expenses and profits of a business it leads to more offers from buyers.  We hear all the time from business sellers, “If we find someone who knows the business, they’ll understand.” What business brokers in Florida typically find is that business buyers are not looking for complicated financials regardless of their experience in an industry. If the financials are clean, a business seller in Orlando is likely to get a better price and they will have an easier time selling a business in Central Florida.

It is always best to have a clean business working area and updated equipment when selling a business in Orlando.

2) Clean Business Premises

Buyers will often tell business brokers that if the financials support the business purchase price that they will make the decision to purchase a business. However, that is not always the case. Often times if the equipment or fixtures of a business are not in good shape or not up to date it can send a cautionary signal for buyers. Buyers might be concerned that they will need to spend extra money to update, paint, and clean everything up. The need for clean premises is even more important for businesses that have a retail component or those that host customers at their place of business.  This does not mean that a business seller has to buy all brand new equipment and fixtures, it just means that everything needs to look like it is in good working condition because it does help the overall presentation when showing a business to potential business buyers in Central Florida.

Cleans premises gives the impression that a business is a clean business.

3) Good working support systems including software and databases

There are many businesses that we as business brokers will visit where the business owner is the key to everything about the business. The contact information for a particular supplier or a key equipment repair person or the contact information for the insurance company all filters through that owner. This is all fine as long as the owner is in good shape, but if something happens to the owner the business could be in trouble. Business buyers like when they see businesses for sale that have systems and protocols in place. They recognize that a key aspect of buying and transferring a business to a new owner in Orlando is the transferring of key information that is vital to running the business. While buyers typically get acclimated to this information once a business sells, business sellers can make their businesses more attractive by showing potential buyers that they have systems in place. Keep in mind that a business owner does not have to show all the any details such as names and numbers, but they can mention that they have a particular software they use to manage their contacts or their sales.  Business owners can mention that they have a hand book or a database with all the key contacts a future owner will need. These systems put buyers at ease because these systems give them something to fall back on if an incident happens to the owner or to them once they own the business.

Branding is always important for businesses to have in Central Florida.

4) Branding, a website, and social media

While some businesses in Orlando do not need it, it still helps businesses to have some branding, a website, and social media when marketing a business to potential business buyers in Orlando. Every little bit helps! Typically in Central Florida when buyers fill out Nondisclosures and financial forms they receive some preliminary information on the business they are looking at. It is assumed that many buyers will look up a business online to see if there is any additional information about it on the internet. For the purposes of selling a business in Orlando, it helps to have some good information about the business for sale online. It could be as simple as the business setting up a website. It is absolutely worth the extra few dollars to make it a nice, presentable and up-to-date website even if it is not vital to the operation of the business. Everything helps and potential buyers will want to set up those items for themselves so if these materials already exist it is a value added asset to the business.

Key employees are always critical to the success of a business.

5) Key employees

Great employees can be the key to any great business. Business buyers often look for businesses that have talented and key employees that will be staying on with the new owner. Contrary to what some business owners and their employees might think, most business buyers in the Orlando and Central Florida area want to hire all of the employees that are currently working at a business they are looking to purchase. Having a team on board for a venture that they have not experienced yet offers a majority of buyers an extra level of comfort that there is some back up in case something happens to them or the current owner. Key employees can also offer suggestions and assistance to a new owner when it comes to operating the business and they can also be helpful when it comes to troubleshooting potential issues in the coming future.

There are many more ways Central Florida business owners can help their businesses sell on the business for sale market in the Central Florida area. If you or someone you know is looking to sell a business or might be looking to sell in the near future call the number one Orlando business brokers at Crowne Atlantic at 407-478-4101 or check out our website at www.crowneatlantic.com.

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The Day Of The Sale Checklist For Selling A Business in Orlando

The Day Of The Sale Checklist For Selling A Business in Orlando

Selling a business in the Orlando area is always an exciting time and the day of closing also brings a long list of items that have to be covered to make for a smooth transition. Because our business brokers in Orlando have sold so many hundreds of deals we felt it might be helpful for business buyers and sellers to put together a checklist of items needed for the majority of main street business transactions in Florida. If you can check off everything on this list, you are in great shape when selling your business in Central Florida.

Items to take care of before the closing of the business for sale in Orlando:

1. Make sure bring any lease or lease assignment documents that need to be filled out and signed. More importantly make sure there is a plan for how those documents and any initiated or outstanding fees will be delivered to the landlord. Make sure you have an estoppel letter in place that proves and is signed by the landlord that you do not owe them any additional monies after closing.

2. Make sure the buyer has applied for business and liability insurance and the policy is in place prior to closing.

3. Make sure Buyer has made contact and has applied with any merchant processing companies they require to operate the business and accept payment. If a merchant account is not in place, that means the seller will be accepting the income until it is switched over to the buyer.

4. Be sure to have a final equipment list to add to the closing documents.

5. Be sure to have a final inventory count and amount prior to closing.

Business Brokerage Services also offered in Winter Park, Florida in addition to all Central Florida cities.

6. Make sure all parties that are supposed to be signing know they need to attend. Make sure they know the location of closing and that they bring their ID’s.

7. Most attorneys in the Orlando and Central Florida area ask that business buyers wire the purchase money funds ahead of closing. Every bank has different times and standards so wiring is not always immediate. Buyer needs to wire funds well in advance.

8. Make sure closing documents have been reviewed by both buyer and seller.

9. Make sure that both buyer and seller are aware that they will need to eventually agree to an allocation agreement for tax purposes.

10. Make sure Seller brings with them any keys, vendor contact information, list of customers, vehicle titles and any vital documents for a new owner to closing.

Business Brokerage in Orlando

List of items to do after closing of the business for sale in Orlando:

1. Make sure Buyer transfers all business tax licensing, occupational licensing, and business licensing. The majority of operational licenses in Florida cannot be transferred to a new party without a Bill of Sale or proof of new ownership.

2. Transfer all utilities including electric, water, phone, gas, internet. While these can be done beforehand things to happen and deals get delayed so in order to make sure one party is not paying more than they should it just helps to transfer these items afterwards.

3. Make sure any lease assignment, documents and payments are delivered, mailed or wired to the landlord.

4. Make sure and time and strategy are set to introduce the new owner to any employees, customers or vendors.

5. Make sure the process starts for transferring the employees payment and work information to the new business corporation.

6. Double check and make sure that buyer has a list of any codes, login information and payment liabilities that need to be taken care within the next week.

At Crowne Atlantic our business brokers work hard to make sure the small details are addressed and taken care of and this prevents smaller issues from becoming larger issues. If you want a business broker in the Orlando and Central Florida area that focuses on the sale of YOUR business rather than just tagging your business with a number in a bag of listings call the Orlando Business Brokers at Crowne Atlantic at 407-478-4101.

Specializing in business brokering service businesses in the Greater Orlando area.

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How Can I Sell My Business In Orlando?

If you currently own a business in the Orlando or Central Florida area and you’re asking yourself, how can I sell my business in Orlando. We can help!

Business Brokers at Crowne Atlantic Properties service the entire Central Florida area helping business owners sell their businesses every day. After selling hundreds and hundreds of businesses in the Central Florida area our firm has noticed buyer patterns over the years and while every business is different, most business buyers follow the same patterns when they look at buying a business in Orlando and Florida in general.

Selling My Business in Central Florida

Below are FOUR key items that business buyers in Orlando pay close attention to when looking to buy a business:

1) Business Financial Records
2) Business Lease and/or Real Estate
3) Equipment and Assets Included
4) Future Potential of the Business

Lets look at each of these items a bit closer:


1) Business Financial Records

Business buyers want to feel as comfortable as possible when they are looking at businesses to purchase. The more honest and complete the financial records are, the more honest and complete the business looks. The financials are similar to a student’s report card or an automobile’s diagnostic test. Bad financials does not equal a bad business, however if you think “what will help me sell my business in Orlando” good financials will help. This means that if you take cash jobs and do not report them on your financials…….. you will need to start doing that if you want buyers to believe how well your business performs.  Buyers will not want take your word for it even if the purchase price is lowered. It will also help if you keep track of all of your expenses in addition to your sales. This tells the working story of the business so that you the owner do not have to. Good books and records for a period of years prior to the sale of your business will help you sell your business quicker and for more money in the Greater Orlando area. This means you will want to have several years of tax records available, balance sheets, profit and loss statements and bank statements to back up these records.


2) Business Lease and/or Real Estate

Another key item buyers look at when buying a business in Orlando is the lease of the business premises for sale or the real estate that comes along with the business. How long is the lease? What are the restrictions? Is there a chance the landlord wants to sell or demolish the building the business is housed in and is the business protected if that happens? What about the real estate? Is the current value of the real estate worth way more than what the current business can support? Can a buyer get financing for the real estate? Does the real estate have any environmental issues that could prevent a sale or a buyer from getting financing?  If you’re thinking, “What else can help me sell my business in Orlando,” find out the issues surrounding your lease or real estate prior to marketing your business for sale.

It is always best to have a clean business working area and updated equipment when selling a business in Orlando.

3) Equipment and Assets Included

While business is business and some buyers claim financials are everything, there is more to a business than just having profitable financials. Buyers pay close attention to the condition of the business premises they are about to take over. This is especially the case where the business has premises or equipment that is regularly visited and seen by customers such as restaurants, bars, schools, rental facilities, manufacturing facilities, distribution facilities, and recreation businesses. If you want to do what you can to sell your business, make sure the equipment used in your business is updated. Make sure your equipment and your business premises are clean. When you think, “sell my business” think “sell my house.” If you were selling your house you would probably vacuum all the rooms, paint the walls, redo the floors and possibly upgrade some appliances and equipment. The same principle goes for businesses. Make sure your business looks its best. Make your business look like a business a buyer would want to buy.

4) Future Potential of the Business

This one is surprisingly overlooked often by potential business sellers. Often times business owners looking to sell are often selling due to lost interest or energy and sales are starting to suffer. While business buyers are open to taking over businesses that are showing declining sales and profits it is not the most ideal position for a business seller to be in. If you think, what more advantages will help me sell my business in Orlando…….. make sure to have a business that is showing viability and future potential. Business buyers want more than a business seller who claims they can earn more money by working harder. Ideally, Orlando Business buyers want a business that already is working harder and they want that hard work to be reflected in stable or increasing sales, profits and opportunities.

If you would like more information on selling your business in the Orlando or Central Florida area please call the Business Brokers at Crowne Atlantic Properties at 407-478-4101 or check out our website at www.crowneatlantic.com.

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The Most Important Tip When Selling Your Business In Central Florida

The Most Important Tip When Selling Your Business In Central Florida

When you are looking to sell your business in the Central Florida and Orlando area the most important thing is make your business look the way you would want to see it if you were the business buyer. So if you would want to see a clean workspace with a lot of activity and you would want to financials accurately documented on the corporate tax records……… this is likely what potential business buyers will want to see when they look at your business. This is the most important piece of advice that we give to business owners looking to sell a business in the Orlando area. We recommend business owners imagine themselves as potential business buyer. Ask yourself, if you were a buyer and knew little about a seller’s business or even if you knew a lot about the seller’s business, what would you want to see? What would your expectations be?

Tip to selling a business in Orlando

At Crowne Atlantic, our business brokers in Central Florida work with potential business sellers to go over the items that are most important to business buyers. All too often we encounter business owners that have issues in their business that could be considered big drawbacks or turnoffs by buyers. Some of these turnoffs may include, the business not documenting all of the sales and profits and tax records and taking cash. Other buyer turnoffs might include a non-secure lease where a business owner just rents month to month and might have to relocate. These are just some examples of situations that can concern Buyers when they are looking at a business.

Buyers want to see a stable operation with a stable location when they take over a business. We find sellers that say things like, “if you find a person who knows the business they’ll understand.” The reality is however that business buyers do hold business sellers up to a higher standard the same way any buyer would when they make a purchase. For example, if a person is looking to purchase a home they would prefer the home they see to be neat, tidy, painted, and in working order. If not, these issues will surely be reflected in the buyer’s offer. The same goes for when a Business Buyer looks at a business. If everything is in order with books and records and the premises are at least moderately organized, depending on the business, it will make for an easier business sale and will likely sell for a higher price. Sellers should position their business in such a way that they would find it attractive if they were a buyer and were not familiar with the business.

When business owners in Orlando want to sell their business, it is always good for them to remember that potential Business Buyers are no different than their current customers. Often times business owners forget this because they can find themselves in a deal making mode. Treating potential business buyers as a typical customer of the business can put things in a different light for many business sellers. Just like any of the customers a business sells to, business sellers will want their business to reflect how great their product or service is. Items that might seem trivial, like clean business workspace, do in fact matter. Clean books and records matter. A defined system where a business buyer can easily see themselves running a business does matter to business buyers in the Orlando area. Ultimately sellers want to create the business environment they would want to see if they were looking to buy a business. The more they can create this environment the more buyers will be attracted to their business and the more money they will be willing to offer.

For more tips on selling a business in the Central Florida or Greater Orlando area check out our website at When you’re selling a business in Central Florida or phone the Central Florida Business Brokers at Crowne Atlantic.

Selling an Orlando Buffet Restaurant Franchise

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Top 10 Tips To Selling Franchised Restaurants In Orlando

Top 10 Tips To Selling Franchised Restaurants In Orlando

Selling an Orlando Buffet Restaurant Franchise


Selling a franchised restaurant in Orlando brings out a lot of interest among both restaurant and main street business buyers, but a seller of a resale franchise still has to find and pick the best buyer. Below are a list are our top 10 tips to selling a franchised restaurant in Orlando.

1) Franchised restaurants for sale in Orlando can command a higher price than most independent restaurants selling in Central Florida.

This is because franchised restaurants have a wider appeal due to brand recognition. These restaurants for sale in Orlando have to potential to attract both experienced and inexperienced restaurant buyers in Orlando.

Orlando is a great place to have and own a restaurant franchise.

2) Restaurant buyers look for the same things they look for when they purchase independent restaurants.

Just because a restaurant is a franchise does not mean it gets a free pass on everything. Restaurant buyers in Orlando still want to purchase a profitable restaurant showing financials on the books. They also want to buy franchised restaurants with favorable leases that are manageable and secure for a new owner.

3. Determine whether or not your restaurant franchise for sale will qualify for an Foreign Investor’s VISA.

If you are selling your restaurant with an Orlando Business Broker, they should be able to determine whether or not it will work for a foreign investors visa. Businesses that qualify typically have good books and records and most U.S. Immigration offices around the world like seeing that new immigrants will be part of a franchise that has a business plan and operation all laid out for them. Both U.S. Immigration and foreign buyers seeking visas see franchised restaurant purchases as having less risk and therefore these business opportunities are more attractive to both parties.

Bank Financing with SBA or Commercial Lending is Always More Attractive for Business Buyers.

4. Determine whether or not your franchise restaurant for sale in Orlando qualifies for bank financing with an SBA loan or other commercial financing.

For SBA financing to work the business will need to have good books and records. In many cases banks have lists of preferred franchises and restaurant franchises that they prefer to finance. While dealing with an SBA business buyer might take more time, usually the business seller is rewarded with a higher price and more cash at closing.

5. Be aware of specific criteria that your franchise will require from potential buyers.

For example, we were looking to show a restaurant franchise for sale to one of our buyers and the business broker said that even though the restaurant is selling for a price $499k and would qualify for an SBA Loan, the franchise would require any incoming franchisee show they have $500k in liquid cash with no leveraging. Facts like this are important to know!

Restaurant and Food-based franchises for sale are always popular in Central Florida.

6. Be aware of any franchise transfer fees.

We cannot even begin to say how many times we have worked on selling franchised restaurants where the franchisee believes they know what amount the transfer fee is only to find out they are incorrect and we are already several weeks into a transaction. Find out what the franchise transfer fee is early on and before you start marketing the business for sale to buyers decide whether or not the buyer or seller will pay those transfer fees. If a buyer has to come up with an additional $5,000 to $10,000 over what they though the actual transfer fee was, it might cause issues if the deal is already in play.

7. Make sure your franchised restaurant for sale has all internal updates and modifications that meet the current franchise standards.

Some restaurant franchisees want to sell their restaurants in Orlando because they’ve had the restaurant for a long time. However some have had their restaurants for so long that they have held back on making all of the franchise updates or with keeping the restaurant premises in good condition. There is a strong chance that the franchise will require these updates prior to a sale to a new owner/ franchisee. So business sellers looking to pass the buck of new update costs onto a new franchisee might be surprised when they find out the franchise may force the seller to make these updates prior to approving and allowing the sale.

Popular Franchised Restaurants for sale are always popular in the Orlando area.

8. Make sure you are aware of the training time a restaurant franchise will require new buyers to go through.

Some franchises require extensive training for weeks at a time and some require an incoming franchisee to travel to another part of the country for a week or two at a time to train. It’s an expense and time commitment that buyers need to be prepared for. It also affects the time period needed before closing the sale of the restaurant.

9. If the franchise restaurant buyer you are working with in Orlando is looking to get a foreign investor’s visa and has no credit history in the country find out if possible ahead of time what requirements the landlord will have for this type of tenant.

Business brokers in Orlando receive a lot of inquiries from foreign buyers looking to purchase businesses. It is very common for landlords to ask foreign business buyers for a larger deposit than domestic business buyers. This is usually due to a foreign buyers lack of credit history and social security numbers. On some occasions foreign buyers have been in the country for a while and it is not an issue. However on some occasions there are landlords that will have requirements a bit on the extreme side. This additional deposit money can be enough money to affect the success of the deal if the buyer does not have the funds to cover the extra deposit. If possible, ask the landlord about this issue when you first enter into a deal with the buyer.

10. Make sure the remaining lease offered by the landlord is satisfactory for the buyer early in the deal.

Most restaurant buyers, especially those buying restaurants are concerned about the length of a restaurant’s lease. They do not want to worry about fighting a landlord to keep their space two years later so it is important that they ask. Some buyers in Orlando are okay with 10 years but some want more. If a buyer gets an SBA Loan, it’s very possible that the bank will require the buyer to obtain a lease that lasts the duration of the loan.

If you or someone you know is looking to buy or sell a restaurant franchise in the Orlando and Central Florida area please call us at 407-478-4101.

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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.

For Similar Articles You May Be Interested In Click The Links Below:

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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.

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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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.

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.

For Similar Articles You May Be Interested In Click The Links Below:

Five Advantages of Using Local Business Broker In Orlando Instead of A National Business Broker

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

Selling a Small Business In Orlando, Florida

Selling A Business in Orlando

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

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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.

For Similar Articles You May Be Interested In Click The Links Below:

Five Advantages of Using Local Business Broker In Orlando Instead of A National Business Broker

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

Selling a Small Business In Orlando, Florida

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

Selling A Business in Orlando

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

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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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