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.
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Call Tollfree at: (855) FLBIZRE  (855) 352-4973