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FAQs
[vc_toggle title=”What services does Crowne Atlantic business brokers offer?”]We offer services, including business valuations, business brokerage, listing, acquisition, and more.[/vc_toggle][vc_toggle title=”Why should I choose Crowne Atlantic for selling my business in Florida?”]We have over 30 years of experience helping business owners sell their businesses and have expertise in a wide range of industries. As seasoned business brokers, our dedicated team ensures a smooth, confidential, and successful transaction tailored to your needs.[/vc_toggle][vc_toggle title=”How can you help me in buying a business in Florida?”]We can assist you in buying a business by connecting you with suitable listings and guiding you through every step of the process. Our experienced business brokers provide personalized support to ensure you make informed decisions and achieve your goals.[/vc_toggle][vc_toggle title=”What makes you different from other business brokers in Florida?”]We’re committed to providing confidential and professional services to business owners and ensuring a smooth and efficient sale process.
Learn more about us here.[/vc_toggle][vc_toggle title=”Can I get a free consultation?”]Yes, we offer a free consultation for business owners looking to sell their businesses or individuals interested in buying a business in Brevard County and other counties in Florida.[/vc_toggle][vc_toggle title=”What is my business likely to sell for in the Lake County market today, and how can I increase that value before listing?” css=””]
Lake County is one of the fastest-growing population markets in Central Florida and Florida in general. Areas surrounding The Villages, Clermont, Mount Dora, Tavares, Groveland, and Eustis continue to go up in popularity. These areas offer the geographic advantages of Central Florida, along with a more rural atmosphere. Living expenses and real estate can be less expensive in the more rural areas, which makes expansion more available.[/vc_toggle][vc_toggle title=”What steps should I take now to prepare my business for a smooth and successful sale in this area?” css=””]
Streamline the operation, making sure you have great staffing in place, make sure your books and records are clean, and make sure your operation has a diverse set of customers. The less a business relies on the owner themselves and a small portion of customers, the more attractive it is to potential buyers.[/vc_toggle][vc_toggle title=”How does my location affect what my business is worth?” css=””]
If the business is in a more populated area, it reaches more potential buyers as more buyers are familiar with the bigger city centers and look for businesses there first. The quality of the business and the earnings ultimately are most important for buyers, so if the business is doing well and checks the box for a lot of what buyers are looking for, a business can sell even if it is in a less populated area. Oftentimes, a rural area is near a larger city, and the distance is convenient enough for a new owner to commute to the area from the city. Typically, in Central Florida, there are enough developed areas for that to be possible.[/vc_toggle][vc_toggle title=”Are businesses in my city or region selling for higher or lower multiples right now?” css=””]
If the business is making a discretionary income larger than what the average business available for sale makes, it will sell for a higher multiple. Since Lake County is close to a major city center with air travel availability all over the country, it should be on par with more populated areas.[/vc_toggle][vc_toggle title=”How long do businesses typically take to sell in my area?” css=””]
Most businesses take 4 to 12 months to sell if they are priced correctly and the business shows all its financials.[/vc_toggle][vc_toggle title=”Is there enough buyer demand for businesses like mine in this market?” css=””]
Depends on the industry, but ultimately, if the business is producing a desirable income, it can typically find a buyer. Typically, a desirable income is slightly higher than the average household income for an area, but ultimately, the higher the income, the more buyer interest there will be.[/vc_toggle][vc_toggle title=”Do local economic conditions here make now a good time to sell?” css=””]
At times, economic conditions can affect business sales. After selling businesses for a couple of decades, our firm has seen premium businesses sell for the appropriate prices regardless of how the economy is doing. Businesses typically can sell in any economic condition as long as they are doing well. Oftentimes, especially in Florida, economic slowdowns occur for short periods of time, so even if there is an economic depression currently, a business can typically sell soon after that. [/vc_toggle][vc_toggle title=”Are there state or local taxes that will impact how much I net from a sale?” css=””]
In Lake County and Florida, there are no taxes that would affect a seller’s net earnings from a sale; however, there are other federal and capital gains taxes that could take effect.[/vc_toggle][vc_toggle title=”Are there any state-specific regulations that could slow down a closing?” css=””]
This would depend on licensing and would be industry-specific. Businesses typically have a business tax license, but different industries are subject to different types of licensing. For example, the sale of a medical business would likely need to be approved by Florida’s Agency for Healthcare Administration, but it would not have anything to do with the county specifically. Some counties have specific certificates they request for contracting businesses, but Lake County is extremely business-friendly, so most requirements for operating a business are simply state and federal.[/vc_toggle][vc_toggle title=”How does the labor market in this area (availability and wage levels) affect buyer interest?” css=””]
Finding quality labor can always be a challenge. Often, the labor in the more rural areas is more loyal to the businesses that are there because there are fewer job opportunities. As long as the work at the business is stable and the jobs pay great wages or commissions, business buyers are typically happy.[/vc_toggle][vc_toggle title=”Does the local cost of real estate here make it better to sell my building with the business or keep it and lease it back?” css=””]
Based on historical sales from our business broker firm alone, yes, the cost of the real estate in the more rural counties is much more affordable and much more attractive than it can be in larger city centers.[/vc_toggle][vc_toggle title=”Are out-of-state buyers currently interested in acquiring businesses in this area?” css=””]
Yes, if the type of industry matches what they are looking for, or if the income opportunity for the business matches what buyers are looking for, it can be very attractive. There was a buyer looking for a commercial signage business in Florida and found one in Lake County that they could relocate to. Their requirement was that the business was within a few hours of their family, already located in Florida, and they were open to Lake County.[/vc_toggle][vc_separator color=”custom” border_width=”6″ accent_color=”#1d3362″]
