Wednesday, April 17, 2013

Why are people standing in lines at Starbucks?


            
      The simple answer to this question is that it works !  Many have developed a taste and a habit for Hazelnut Macchiato Espresso or Chai Latte.  Others, like me, just love coffee.......strong black coffee varieties from around the globe.   The more subtle reason why Starbuck's "works" along with every other popular franchise is that when you walk in the door you know exactly what you are going to get.  No more mediocre coffee, unqualified service companies, and substandard products.  All they need to do is deliver what you are expecting with a high level of consistency.  That's it, BOOM !!  Success !

     Of course there are many franchises that do not succeed for a variety of reasons, a fact well concealed by the franchise industry.  Local knowledge is essential in choosing the right location and a product or service that matches up with the needs of the local demographics. The type of business also needs to match up with the skill set and experience level of the franchisee. Working with an experienced business broker is invaluable in helping a buyer make the right decisions.  It can be the single biggest factor in avoiding obvious and unnecessary mistakes along the way.

     The reason I want to talk about franchises is that we are seeing a trend of people moving to Florida who are not ready to retire or more often, cannot afford to do so when 10 year CD's are paying 1.01%.  Their plans have changed along with the unforgiving world economic downturn and they need a source of income.  For many of these folks, but not all, a franchise business may be a perfect fit.  I say "not all" because often an ongoing business that is not a franchise is a better fit.  I have written a questionnaire that many of my clients have found helpful in evaluating what type of business best suits their individual needs and matches up best with their skill set and level of experience.  Just send me an email and I would be glad to send along a copy to you.

      I want to emphasize how important "local knowledge" is.  You probably would not buy a house in Florida without the help of a local Realtor to guide you and answer any questions or doubts you may have.  It is doubly important to work with a local business broker when buying a local business or a franchise.  Would you want a franchisor's 'real estate expert' from Chicago help you select the best location?  We have all seen a spot where one restaurant after another has opened and closed.  It's the location !  Local knowledge, can't beat it.  If you want to see businesses for sale in Florida, or learn more  please get in touch by visiting our website: http://www.southfloridaforme.com/Search_Businesses

 

Monday, April 8, 2013

Florida Business Sales-The New Normal


Whether you are thinking of moving to Florida or you already live here, we are seeing a significant trend in the way people are thinking about their retirement.  With all of the Baby Boomers moving to Florida and enjoying the great weather and a more relaxed lifestyle there are great opportunities to meet their needs for all of the goods and services they require.  Just about every type of business that caters to this population and to the newly revived real estate market is currently experiencing a re-birth along with healthy growth. What is surprising is the number of people who are taking advantage of this market by buying service businesses.  Here are a few of the groups that seem to make up a large part of this trend:
     First there are Florida residents who are leaving the jobs they currently have and selling the businesses that they now own to buy businesses that cater to this trend in the areas where the growth is strongest, such as Broward and Palm Beach Counties.  They are buying just about any type of business that fits the growing needs of this population.  They repeatedly tell us that they see this trend continuing for years and that is where they want to be.  We think they are exactly correct in positioning themselves this way for the foreseeable future.
     The next group that we hear a lot from is people from across the country who have been planning to retire to Florida and have been telling us two different stories.  Many see the strong growth in our area as an opportunity to speed up their move to Florida where they see a stronger business climate than where they presently live.   Others are representative of the 'New Norm' and are now changing their retirement plans to include a new business venture to supplement the income that has been diminished by the value of their real estate holdings and other assorted 'victims' of the changing economy.  It is interesting to note that we have seen some people collaborate with friends and relatives to collectively buy a business that they can each work in part time.  This may be an interesting trend in itself to watch as it does seem to make a lot of sense for a growing number of people.
      Buying a business in Florida is a particularly good idea for a large number of those who want to retire however they are not able to live reasonably on their social security and their savings.  Many had planned on a certain return from dividends or interest from their savings and now find these returns almost negligible.  In order to supplement their income many are finding that taking their years of experience and putting it to work by buying a business is the most viable option.  We see this more and more and I am sure that this trend will continue at least for the foreseeable future. The dream of retirement has been dashed for many Boomers and they have accepted the 'New Norm' and are adjusting accordingly.
     The business brokerage business in Florida is very strong right now and it is interesting to note how many people we speak with who just are tired of their present job or business and just want to try something new that they believe they will enjoy more. We love working with this group because of their enthusiasm and their determination to improve their lives.  After all, that is what it is all about.
    To search businesses for sale in Florida please visit:

Florida Business Sales-The New Normal


Whether you are thinking of moving to Florida or you already live here, we are seeing a significant trend in the way people are thinking about their retirement.  With all of the Baby Boomers moving to Florida and enjoying the great weather and a more relaxed lifestyle there are great opportunities to meet their needs for all of the goods and services they require.  Just about every type of business that caters to this population and to the newly revived real estate market is currently experiencing a re-birth along with healthy growth. What is surprising is the number of people who are taking advantage of this market by buying service businesses.  Here are a few of the groups that seem to make up a large part of this trend:
     First there are Florida residents who are leaving the jobs they currently have and selling the businesses that they now own to buy businesses that cater to this trend in the areas where the growth is strongest, such as Broward and Palm Beach Counties.  They are buying just about any type of business that fits the growing needs of this population.  They repeatedly tell us that they see this trend continuing for years and that is where they want to be.  We think they are exactly correct in positioning themselves this way for the foreseeable future.
     The next group that we hear a lot from is people from across the country who have been planning to retire to Florida and have been telling us two different stories.  Many see the strong growth in our area as an opportunity to speed up their move to Florida where they see a stronger business climate than where they presently live.   Others are representative of the 'New Norm' and are now changing their retirement plans to include a new business venture to supplement the income that has been diminished by the value of their real estate holdings and other assorted 'victims' of the changing economy.  It is interesting to note that we have seen some people collaborate with friends and relatives to collectively buy a business that they can each work in part time.  This may be an interesting trend in itself to watch as it does seem to make a lot of sense for a growing number of people.
      Buying a business in Florida is a particularly good idea for a large number of those who want to retire however they are not able to live reasonably on their social security and their savings.  Many had planned on a certain return from dividends or interest from their savings and now find these returns almost negligible.  In order to supplement their income many are finding that taking their years of experience and putting it to work by buying a business is the most viable option.  We see this more and more and I am sure that this trend will continue at least for the foreseeable future. The dream of retirement has been dashed for many Boomers and they have accepted the 'New Norm' and are adjusting accordingly.
     The business brokerage business in Florida is very strong right now and it is interesting to note how many people we speak with who just are tired of their present job or business and just want to try something new that they believe they will enjoy more. We love working with this group because of their enthusiasm and their determination to improve their lives.  After all, that is what it is all about.
    To search businesses for sale in Florida please visit:

Wednesday, February 20, 2013

FRANCHISE BUYERS...........OR NOT ?


                              


     Every business broker has had the experience of being contacted by a potential client who states very simply that they want to buy a Franchise.  How many of these conversations make it abundantly clear that they have misconceptions as well as no clear understanding of what type of business is suitable for their skill set and level of experience?  The most common misconception that we encounter at www.southfloridaforme.com  is the almost religious belief that buying a Franchise is an automatic recipe  for success.  From there the conversation can reveal an unrealistic assessment of the skills necessary for success and the fact that the necessary skill set may vary greatly with the type of business.  What to do?  We have a buyer standing in front of us looking for guidance and sound advice in the decision to buy a Florida Business.  Here is what we do:

     We have developed a very straightforward and user friendly questionnaire that we insist that the client fill out.  I ask them to include in the process any and all decision makers who will be part of the process of selecting the most suitable opportunity.  I want to know how they feel about risk and debt.  I want them to consider in advance how much they are willing to work so that they have a realistic expectation and choose a field that conforms to their expectation. We know there are franchises that are pretty much 40 hours, no weekends, etc. and others that will suck every hour of wakefulness out of you.  We know the level of profit to expect and how that relates to the workload.   They may have no idea about these things.  By the time they finish filling out my questionnaire they will have considered and discussed most all of the most important factors that they should consider before rather than afterthey have started making any decisions.  By going through their answers together we can develop a set of criteria to aim to satisfy.

      Next comes the part of the questionnaire that deals with identifying their personal skill set(s).  The goal is to address how any deficits in skill or experience can be compensated for or outsourced.  The true talents, experience level, and skills that the client brings to the potential new business can now bring the conversation to the next step in the process.

     Now I want to identify Franchise opportunities that meet the criteria we have developed.  The last step is to compare what we have found to a non-franchise business opportunity in the same area, business category, and other criteria we have developed.  It may just be that after a thoughtful conversation that our client can see that they are  more suited for an existing business that is for sale.  At least now we can have that conversation and truly deliver the guidance and sound advice that was their reason for contacting us in the first place.

     If you would like to see this questionnaire please request so by emailing us at edwardsklar@southfloridaforme.com

 

 

Monday, February 18, 2013

Business Broker Thought Leadership

         
 
     Business brokerage is a unique business in many ways. It is dependent on having a positive reputation like any other business however it is a less structured industry than most and must constantly find innovative ways to be noticed and to be remembered when the need arises for a business broker.  Being an active member of the local business community is vital to being seen as the "guy to go to".  What better way to create and maintain this image than to provide LEADERSHIP within the local business community where you work.  We have a suggestion how you can do this in a significant way bringing you potential clients and having a genuine positive effect upon the community where you live and work.
     The South Florida For Me Team is a network of real estate agents and business brokers in Florida operating with a referral system that is unique.  We donate a part of our commission from each sale to the Not for Profit organization chosen by our clients which becomes a tax deduction for them. We do it because we believe that this business model is an important trend in many industries and types of businesses and that it addresses certain needs in the community that are not being adequately met since weaker economic times have developed.  It is time for the business community to take an increasingly active role in charitable work and wherever true need exists for the most vulnerable members of our society.  If you look to our website at: www.southfloridaforme.com you can see our entire program.  If it inspires you to consider joining our referral network you will receive a referral fee from any property or business that we close for your clients, the qualified charity will receive a donation, and your client will get a tax deduction for the donated amount.  If you educate your community and promote this idea of social enterprise within your sphere of influence you may be viewed as showing true leadership in a direction that is  becoming an important trend in the world of business.  This will place you in a very visible position for any public relations which can be an enormous benefit to your business of listing and selling businesses.
     We are members of the Business Brokers of Florida and we have all of the infrastructure and connections in place to effectively handle and close the sale of any type of business in Florida.  Please contact us through our website if you would like to discuss this further and explore how we might work together as part of this dynamic and innovative way of marketing our services.
Learn more about us at
 
Call Tollfree at: (855) FLBIZRE  (855) 352-4973