Monthly Archives: December 2014

Florida Small Business Loans

Looking for help getting a small business loan in Florida? Get the most important resources here.

Small Business Loans in Florida

Do you need a loan to purchase a small business? Or do you need additional funds to grow your existing business? No matter why you need a small business loan, there are resources available in Florida. There are many ways to obtain loans, from private lending institutions to government agencies. Whether you need short term funding or want to buy a business, let’s cover some options for small business loans.

Government Agencies

The US Small Business Administration offers many programs to small business owners—for loans, financing and bonds. They can help you get a third party lender, guarantee a bond, or help you locate venture capital. In 2013, the SBA delivered more than $30 billion in loan guarantees. The Florida SBA not only provides Florida small business loans, but it also works to provide counseling, capital, contracting, disaster assistance, and advocacy. If you are in need of financial assistance for your business, you can find the Florida SBA here.

Private Lenders

Banks may be able to offer you a line of credit or a small business loan—if you do personal banking at a Florida bank, start there; you may be able to get a great interest rate since they are familiar with your financial history. But, of course, it is also a good idea to check rates with competitors. Most banks have a small business specialist, so start there. It’s important to note that getting a loan to start a business from scratch can prove difficult. They are normally more apt to loan money for purchasing a business that has proven successful. Having the expertise of a qualified business broker, like Emerald Coast Business Brokers, on your side can increase your chances of qualifying a small business.

Outside Investors

Outside investors would be anyone with the means and money to invest in your business. An investor differs from a partner because an investor gives you money in the hopes that you will use it to grow your business and repay them a percentage where a partner takes an interest in the day-to-day running of your business. An investor is looking for you to work to repay them, while a partner is willing to work with you. Money from an outside investor is essentially a private loan. Finding outside investors may be difficult, but if you network and talk with your contacts, you may find someone interested in providing investment funds to your small business—this is where a Business Broker can come in handy.

Additional Resources

For more resources for Florida small business loans, check out these helpful links:

Enterprise Florida
Florida Economic Information
Small Business Resources from the SBA
Florida Department of Financial Services

 

How to Buy a Business in Florida

Looking to purchase a Florida business? Find out who to contact and what steps are involved.

Buying a Florida Business

Each year, the University of Central Florida’s Institute for Economic Competitiveness does a regional and national study of economic growth. In 2013, they forecasted Florida economic growth for 2014-2017. In that forecast, they predict that retail sales will grow at a pace of 4.2% during 2014-2017, and that the labor force will grow 1.5% annually. Both of these predictions make Florida a prime spot to buy a business. Florida is primed for growth in the coming years. So how do you buy a business in Florida? Don’t go it alone.  Contact Emerald Coast Business Intermediaries. Here’s how it works.

How to Buy a Business in Florida with Emerald Coast Business Intermediaries

The experts on the Emerald Coast team are not only business advisors, but we’re local experts. When it comes to Florida businesses, we know the local market. It can be nearly impossible to purchase a business alone—the process is complex without the help of someone who’s been there before. Emerald Coast Business Intermediaries will be advisors and collaborators with you throughout the whole process.

Prescreening Businesses for Sale. For starters, we begin working before you ever call. We prescreen businesses to help make certain they are good investments for the buyer.

When you’re ready to purchase a business in Florida, you can browse our listings. We offer businesses for sale throughout Florida, specifically in popular destinations like Destin, Fort Walton Beach, Rosemary Beach, and Pensacola.

Matching You with a Business. The Emerald Coast Team is unique compared to other brokers. Sure, you can look through pages of businesses for sale, but our expertise comes in matching your interests, skills, and goals with businesses for sale. If you’re looking for the perfect business venture, contact us today!

Research and Negotiations. The Emerald Coast team will help ensure you have all of the paperwork and information you need to evaluate the business for sale. And we’ll negotiate with the seller on your behalf .

Closing the Sale. Before closing, we’ll work with your lenders, attorneys, insurance companies and other interested parties to create paperwork and documents to close the business sale. We’ll make sure the deal meets all Florida legal requirements as well.

Training. After the sale, we’ll arrange for the seller to work with you for any training necessary. You’ll work together to create a post-acquisition plan to set you up for success in your new company.

Buy a Florida Business with the Help of the Experts

If this process seems easy, it’s because Emerald Coast Business Intermediaries makes buying a Florida business simple. We are experts in both large and small business purchases, and can walk alongside you through the process. Contact us to learn more about how to buy a Florida business and find the perfect business for you. Let’s set up a confidential consultation today!

Welcome to the Emerald Coast Business Brokers Blog

Emerald Coast Business Brokers Launches Blog

Welcome to the official blog of Emerald Coast Business Brokers. We’re glad you stopped by!

Our purpose is to provide helpful resources for those in the market to buy and sell businesses along Florida’s Emerald Coast. The Blog will feature educational and entertaining posts, written by experts, that are designed to coach you through the process of buying and/or selling a business in Northwest Florida.

So, whether you’re new to business ownership, or you’re an experienced pro, we invite you to participate in the Emerald Coast Team’s growing community. We hope you’ll make the most of the information our seasoned professionals and your fellow business owners have to share. We welcome questions, and look forward to reading about your experiences. Together, we can change the way people buy and sell businesses in Northwest Florida.

If you have questions that the Emerald Coast Business Brokers haven’t answered in a current or past post, our friendly, professional team is ready to assist you. Simply ask your question in the contact form, and we’ll respond as quickly as possible.

— The Emerald Coast Business Brokers Team

Business Brokers

What are Business Brokers?

Simply put, a business broker’s job is to guide business buyers and sellers through the process of buying and/or selling a business. They bring the buyers and sellers together with a goal of helping them negotiate a mutually beneficial business transaction; and they do this by providing expertise and advice throughout the entire process.

For the seller, business brokers set the valuation price, prepare your business for the marketplace, guide the paperwork and legal requirements process, customize a marketing plan, conduct buyer searches, negotiate with potential buyers, work with the closing team to execute a smooth selling transaction, and maintain confidentiality throughout the sale.

For the buyer, business brokers pre-screen businesses, provide the information you need to evaluate them, negotiate with the seller on your behalf, and prepare the paperwork and documentation required to complete the transaction.

And the type of business broker you want is one that does these things in a timely manner with excellent communication throughout the duration of the sale.

Should I use business brokers?

The short answer is, “yes.” And here’s why:

For the Seller

  • When you’re busy working in the business, it can be difficult to step outside of your every-day responsibilities to place a market value on it. This is where an experienced Business Broker’s expertise lies. They’ll work to evaluate your business to set a selling price that is workable in the local market, has realistic terms and conditions, and is in line with your goals.

  • If you don’t have the marketing skills to attract quality buyers, a successful business broker does. They’ll identify your target buyer and conduct a comprehensive marketing campaign that includes online and off-line efforts — finding the right buyer at the right time.

  • Most owners don’t have time to meet with every person interested in their business. Business brokers will interview and screen potential buyers to keep you from wasting your time; you’ll only meet with those who are a match for your business and are expected to make an offer. And, most importantly, they’ll do the uncomfortable part; negotiate on your behalf.

For the buyer

  • Finding the right business for your needs and goals is of utmost importance, and it’s what Business Brokers specialize in. In the initial consultation they’ll help determine the type of business you’re interested in, and do the work to find exactly what you’re looking for — a business that fits your personality and your lifestyle.

  • The negotiation process can be uncomfortable. Business Brokers understand your financial needs and they will negotiate with the seller on your behalf, with the goal of a mutually beneficial transaction.

  • They walk with you throughout the entire transaction. Buying a business is a complicated process that requires help from experienced professionals who know the exact steps you need to take. They’ll help prepare of the paperwork and documentation required for the sale.

Emerald Coast Business Brokers

The ideal Business Brokers are those with experience who have walked in the same shoes you’re walking in. Understanding the ins and outs of business ownership is imperative. If you’re buying or selling a business along Florida’s Emerald Coast, that’s exactly what you’ll find with Emerald Coast Business Brokers. The Emerald Coast Team is comprised of experienced entrepreneurs who have very successfully started, bought, and sold businesses. They know exactly what it takes to turn your dreams into reality. If you have questions about buying or selling your business or if you want more information about what experienced, professional business brokers can do for you, contact us today.

8 Questions To Ask Before Buying a Business

A Step Toward Business Success

The reasons why people choose to buy a business are diverse— some want to be their own boss; others seek to make a livelihood of a favorite pastime; still others are drawn to the challenge of making an existing service better and more profitable.

While the motivations for buying a business are as individual as we are, the causes for business failure are surprisingly predictable. Eighty percent of small businesses fail within 18 months of opening, and it’s because the business owner has not effectively answered these questions before jumping into the fray.

  1. What is my business plan?

  2. How well do I understand the industry and the competition I will face?

  3. Will my business experience be enough, or will I need to employ someone to manage finances?

  4. How can I get the lowest possible asking price for this business?

  5. How much am I willing to pay/ how will I finance?

  6. Have I obtained an objective valuation for the business I’m considering purchasing?

  7. Is there any outstanding litigation I need to know about from the current business owner?

  8. How much revenue depends on one or two major accounts?

For some, these questions are answered intuitively. You’ve been through it before, understand what needs to be accomplished and what is at stake, and you have a path for how you’ll get to the finish line.

For others, the path to getting these questions answered comes through the help of a seasoned Business Broker. Getting assistance from a professional who has been through the process, understands what is required, and has the experience to achieve a desirable outcome is paramount to business success.

What Makes a Successful Business?

Beyond asking the right questions initially, a successful business acquisition requires both passion and practicality. Making sure existing customers don’t see a drop-off in quality will require tremendous enthusiasm and drive. But you also need the objectivity to assess your business’s value to its intended market to continuously evolve an effective strategy. Perhaps most important, hold on to the unique vision which inspired you in the first place, while also being able to seek advice from someone who has led others to success.

Could you answer these questions before buying a business?

If you’re considering buying a business, how would you answer these questions? If you can relate to most other new business owners–not quite sure of the right response, or where to start–the experts at Emerald Coast Business Brokers are poised to help you through the process. Success is attainable!

How to Buy a Business for Sale in Florida

Looking to purchase a Florida business? Find out who to contact and what steps are involved.

Buying a Florida Business

Each year, the University of Central Florida’s Institute for Economic Competitiveness does a regional and national study of economic growth. In 2013, they forecasted Florida economic growth for 2014-2017. In that forecast, they predict that retail sales will grow at a pace of 4.2% during 2014-2017, and that the labor force will grow 1.5% annually. Both of these predictions make Florida a prime spot to buy a business. Florida is primed for growth in the coming years.

So how do you buy a business in Florida?

Don’t go it alone. Contact the Emerald Coast Business Brokers. Here’s how it works.

How to Buy a Business in Florida with Emerald Coast Business Brokers

The experts on the Emerald Coast team are not only business advisors, but we’re local experts. When it comes to Florida businesses, we know the local market. It can be nearly impossible to purchase a business alone—the process is complex without the help of someone who’s been there before. Emerald Coast Business Brokers will be advisors and collaborators with you throughout the whole process.

Prescreening Businesses for Sale.

For starters, we begin working before you ever call. We prescreen businesses to help make certain they are good investments for the buyer. When you’re ready to purchase a business in Florida, you can browse our listings. We offer businesses for sale throughout Florida, specifically in popular destinations like Destin, Fort Walton Beach, Rosemary Beach, and Pensacola.

Matching You with a Business.

The Emerald Coast Team is unique compared to other brokers. Sure, you can look through pages of businesses for sale, but our expertise comes in matching your interests, skills, and goals with businesses for sale. If you’re looking for the perfect business venture, contact us today!

Research and Negotiations.

The Emerald Coast team will help ensure you have all of the paperwork and information you need to evaluate the business for sale. And we’ll negotiate with the seller on your behalf .

Closing the Sale.

Before closing, we’ll work with your lenders, attorneys, insurance companies and other interested parties to create paperwork and documents to close the business sale. We’ll make sure the deal meets all Florida legal requirements as well. Training. After the sale, we’ll arrange for the seller to work with you for any training necessary. You’ll work together to create a post-acquisition plan to set you up for success in your new company. Buy a Florida Business with the Help of the Experts

If this process seems easy, it’s because Emerald Coast Business Brokers makes buying a Florida business simple. We are experts in both large and small business purchases, and can walk alongside you through the process. Contact us to learn more about how to buy a Florida business and find the perfect business for you. Let’s set up a confidential consultation today!

Valuing a Business Using Profit

Emerald Coast Brokers can help you value your business. Let us help you sell
your business!

What is the Value of My Business?

This question has likely been asked by every business owner, regardless of intent to sell. The
easy answer is: Your business is worth what someone is willing to pay for it. Still, to list a
business to sell, you must have some idea of the value first.

Valuing a Business Using Profit

There are several ways to value a business. This post is going to focus on valuing a business
based on profit. Here’s the simple formula for valuing a business using profit:

value = adjusted net profit x profit multiplier

Calculating Adjusted Net Profit

Net profit is simply the revenue your company brings in minus the operational expenses.
Adjusted net profit has to account for external market information. For example, if you pay
yourself a salary below the market standard your net profit needs to be lowered. The opposite is
true if you pay yourself a salary above market standard.

Determining a Profit Multiplier

A profit multiplier is a number that usually ranges between 2 and 6. A 4 is common multiplier and
good rough estimate for starters. However, a good business broker can help you determine the
correct multiplier. Common factors that affect the profit multiplier are:

1) The type of business – Conventional multipliers likely exist within your business type.

2) Size of the business – Smaller business usually have a lower profit multiplier.

2) Risk factors – The lower the risk the higher the profit multiplier.

3) Sustainability – Sustainable profit means a higher multiplier.

Why Talk to a Business Broker

Whether you are serious about selling your business or just checking your options, a good
business broker is crucial to understanding the value of your business. A good broker should:

●Know the local market – selling a business on the emerald coast can be different than
selling in other areas.

●Understand net profit adjustments – knowing what to adjust will help you enter the
market at the right price.

●Determine the optimal multiplier – the proper profit multiplier takes advantage of the
potential upside to your business and means you can maximize the value of your
business.

Am I Ready to Buy a Business

Find Out If You’re Ready to Buy a Business

Answer a few simple questions and find out if you’re ready to buy a business.

Owning your own business is said to be the American Dream. If you’ve been thinking about business ownership, there may be a few lingering doubts you have when you ask yourself “Am I ready to buy a business?”

  • Can you imagine yourself as a business owner?
  • Have you thought about what type of business you would like to own?
  • Are you picturing more freedom and a more money in your bank account?

Taking the plunge and buying a business is a big step. Here are a few things to consider:

Am I ready to take a risk?

It’s always risky to enter a new career path, and putting yourself on the line as a business owner adds to that risk. However, you can minimize the risk greatly by buying a business instead of starting one from scratch. While buying a business does have a greater initial investment, it’s easier to make sure the business you are buying is thriving and successful before you step in than it is to try out something brand new. As a matter of fact, history shows that banks are more likely to loan money to purchase a successful existing business than a start-up.

What are my goals?

Before you start the business buying process, it is important to identify your goals. Are you looking for financial success? Is there a certain area you want to operate? What do you love doing? What is your price point?

 A business broker can help you through the process of identifying these goals and matching you with the perfect business.

What skills do you possess that will help you run a business?

 Your leadership skills will finally have a place to shine when you own your own business. If you are a great manager, you will be able to effectively manage your new employees. If you are a marketing minded entrepreneur, you can put those skills to work growing your new business. Your confidence and business-mindedness will be essential in buying and running your own business.

What skills do you possess that will make you a good business owner?

Do you have technical skills that would make you a perfect fit in a particular industry? Isn’t it time to let those abilities and characteristics shine in your life? Owning a business will allow you to excel with your unique skill set.

Now’s the time!

If you wait for the “ideal” time to become a business owner, you may never make a move. While there’s always some risk with business ownership, a qualified Business Broker can help you find the perfect successful business. The advisors at Emerald Coast specialize in helping your locate the perfect business to meet your goals. Contact us for national and regional acquisitions of both large and small businesses, and we’ll help you achieve your dream of business ownership.

Best Beaches on Emerald Coast

Whether you are a tourist or a local, find out the best beach spots of the Emerald Coast here! The Beaches Are What Make the Emerald Coast The sheer number of visitors to the Emerald Coast tells us that more than likely you’re at least familiar with the sugar-white beaches that define these amazingly beautiful coastal towns. Included in the places that make up the Emerald Coast are places like Fort Walton Beach, Pensacola, Gulf Breeze, Navarre, Perdido Key, Panama City Beach, Seaside, Rosemary Beach, and Destin. This area is packed with beautiful white sand beaches that rival those in Mexico and the Caribbean. Here are some of the best beaches you’ll find in the area. The Five Best Beaches of the Emerald Coast

1. Beasley Park in Destin, FL– Beasley Park is a somewhat secluded beach spot on Okaloosa Island. It features a covered picnic area, clean bathrooms, and vending. Depending on the time of year, there is a small shop with snacks and beach activities like kites and boogie boards available. This beach is ideal for families, couples, or anyone looking for a little less populated beach. This beach doesn’t draw the party types typically, so we like it for the quiet scenic beauty and relaxing atmosphere.

2. Casino Beach in Pensacola, FL– This beach has an entirely different atmosphere from our first pick. Casino Beach gives a great view of local surfers, along with vendors, and a fishing pier. During peak season, many local radio stations do live remotes here, giving a fun party feel. The Portofino Boardwalk offers great food options. While this is one of the busier spots in the Emerald Coast, if you want the traditional Florida beach fun, this is the spot.

3. Grayton Beach in Santa Rosa Beach, FL- This is one of the best beaches in the area for pretty much any activity you can imagine. It’s a 2,000 acre park equipped with a boat ramp, canoes, kayaks, swimming, and surf fishing. Four miles of trails also offer something sand-free for hikers and bicyclists. You can even stay the night in cabins or at the full-facility campground.

4. Gulf Islands National Seashore in Navarre, FL– This is a National Park that is packed with fun for families. If you want to snorkel, bird watch, fish, swim, boat, or camp, you’ll want to add Gulf Islands National Seashore to your list of places to visit along the Emerald Coast. There are a number of ranger-led tours featuring historic forts, barrier island walks, and tours where you can learn about local wildlife and more. This beach isn’t the “lay in a beach chair” experience and a great place to take in all that the Emerald Coast has to offer.

5. Johnson Beach in Perdido Key, FL– We hate to tell you about this one, because it’s sort of a secret beach, but is a must on the “best beaches” list. Johnson Beach offers the characteristic beautiful white sand, emerald blue waters, and gorgeous seashells, and it’s hardly ever crowded. You have access to the Gulf side and the bay, making it a unique area to explore. It’s best to bring what you want or need here, as there usually are no vendors. Keep an eye on the water, you may see dolphins!

What are your favorite Emerald Coast Beaches? If you’ve visited the area before, or if you’re local, what do you think are the best Emerald Coast beaches? We would love to hear which places you love to visit. After all, while we do work hard selling businesses in the area, we like to get out and explore in our down time. This area of Florida is beautiful and full of gorgeous beaches. Leave a comment and tell us what you’re favorite beach in the area is.

Business Brokers Florida

Selling your business can seem like a large in-depth process to any business owner, but Business Brokers of Florida specializes in just this.

Are you in the market to buy or sell a business in Florida?

If so, the first step in the process is to speak with a trusted business broker—one that knows the market well, understands your needs, and gets the job done in a timely manner. The trouble is, when it comes to finding the right business broker in Florida, a quick internet search reflects several to choose from. But, when you’re in the middle of what could possibly be the most significant financial decision of your life, there’s no question that selecting the right one is the most important choice you’ll make.

So, how do you do that?

How do you make sure the business broker you select will work hard on your behalf?

While you have the option of selecting one of the “big guys,” with this impersonal approach, it’s easy to get lost in the shuffle. When you’re new to buying or selling a business, you want a broker you can speak one-on-one with—one who takes the time to understand your wants, needs, and goals.

The best business brokers in Florida will help sellers get maximum exposure and buyers find the perfect business for their needs. You’ll find this type of service with Emerald Coast Business Brokers.

What makes the Emerald Coast Team stand out among other business brokers in Florida?

Here are just a few things you can expect:

• If you’re a buyer, we’ll work to understand your intent and strategy and tailor a search based on your criteria.

• You will be assigned an advisor who will manage the process from beginning to end.

• We will communicate clearly and swiftly—understanding how critical this type of communication is.

• If you’re a seller, we’ll use our personal knowledge of the market to help sell your business at the best possible price to the right buyer.

• We’ll pre-qualify buyers and negotiate the sell on your behalf.

• We’ll guide you through the entire process, including the paperwork, to ensure everything is completed in a timely, efficient manner.

• Whether buying or selling, the Emerald Coast Team guarantees a private, confidential sale.

There’s no question that if you’re planning to buy or sell a business in Florida, hiring professional, experienced business brokers is exactly what you should do. Contact us today to and let us help you reach your business goals.