The Six-Figure Business Broker: A step-by-step guide to brokering success

The Six-Figure Business Broker: A step-by-step guide to brokering success

by William M Thomas

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Overview

How does a business broker consistently maintain a closing ratio higher than 83 percent when the industry average hovers around 22 percent? It has taken years of experience, strategic decisions, and a focus on organization and preparation.

For the first time, attorney and business broker William "Bill" Thomas, Esq. is sharing the proven sales model he developed and teaches to the brokers in his own company, Florida Business Brokers.

Learn how to break into the industry, whether you're a real estate agent or a novice to commercial deals, and find out what it takes to succeed as a business broker. Using step-by-step guides and real-world examples, Bill breaks down what it takes to achieve brokering success.

Product Details

ISBN-13: 9780578413167
Publisher: Florida Business Brokers
Publication date: 11/01/2018
Pages: 172
Product dimensions: 8.50(w) x 11.00(h) x 0.37(d)

About the Author

William "Bill" Thomas, Esq. is an attorney in both New York and Florida. He specializes in selling businesses in South Florida. Over the last 15 years, he has handled many multi-million-dollar business sales. Bill runs Florida Business Brokers, a highly successful business brokerage with more than 25 operating agents across Florida.

Table of Contents

CHAPTER 1

Becoming A Business Broker


  • Why become a business broker?


CHAPTER 2

Communications and Setup



  • Getting Set Up to Work
  • Documents
  • Buyers’ Forms
  • Listing Forms
  • Contract Forms


CHAPTER 3

Working with Buyers



  • The First Key to Working with Buyers
  • The Second Key to Working with Buyers
  • Working with First-Time Buyers
  • Working with Experienced Buyers
  • Investigating Listings for Your Buyers
  • Seller’s Pricing and Buyer’s Valuation can be Divergent
  • Petition Offers from Buyers as Often as Possible
  • Proceedure to Follow When Working with Buyers
  • The Elevator Version of the Process
  • Call Buyers Immediately After Receiving a Lead
  • Qualifying Your Buyers
  • Searching for Businesses
  • Buyers Must Sign a Non-Disclosure Agreement
  • Send Buyers Some Information
  • Email and Call the Listing Agent
  • Buyers go Bye-Bye Without Your Attention
  • Advise Buyers to Make Offers
  • Arrange a Meeting or Showing
  • How to Value a Business for a Buyer
  • Submitting Offers
  • Hiring and Attorney
  • Due Diligence and Pre-Closing Matters
  • Financing
  • Business Licensing
  • Suppliers
  • Premises Lease
  • Merchant Account
  • Business Inventory
  • Working with Buyers Who Need a U.S. Visa
  • Working with Buyers Who Need Financing
  • Assisting Buyers with Franchises
  • Sample Buyer Spiel


CHAPTER 4

Working with Sellers



  • Preparation for a Listing Appointment
  • Slow Down and Do Things The Right Way
  • How to Achieve Greatness as a Business Broker
  • Proceedure to Follow When Working With Sellers
  • Evaluate Whether You Want the Listing or Not
  • How to Dress for a Listing Appointment
  • Get a Listing Agreement or Retainer Agreement Before Starting Work
  • Gathering Information for a Valuation
  • Earnings Recast
  • How to Value a Business for Sellers
  • Try to Get Your Sellers to Give Terms
  • How to Handle Skim (Cash)
  • Leave the Door Open for a Price Reduction
  • Get Your Listings Prequalified for SBA Financing
  • Create Offering Memorandums for Listings
  • Advertise Listings
  • Stay in Contact with Sellers
  • Easy Businesses to Sell vs. Difficult
  • Prequalify Buyers Prior to Meetings or Showings
  • Agency Representation and Negotiations
  • Make Counter-Offers Quickly
  • Never Say You Have Another Buyer
  • Due Diligence
  • What to do if Due Diligence Doesn’t Go Well
  • After Due Diligence, Before Closing
  • What Happens if I’m Not Ready to Close?
  • Non-Compete and Buyer Training


CHAPTER

Marketing



  • How Well Can I Do?
  • Sell Existing Listings
  • Advertise House Listings
  • Get Listings!
  • Postcards
  • Use Letters
  • Web Page or Website
  • Network
  • Become a Business Broker


Glossary

Appendix

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