Buying a Central Florida Retail or Hospitality Industry Business can be a challenging, but very fulfilling experience for both the buyer and the seller. A Sales Agent of McGinnty's Business Brokers Group who represents "you" the buyer can make the process less stressful as he or she provides all the legwork acquiring any and all information you need for your due diligence and acts as your proxy during the negotiations. Our Agents will use every tool at their disposal to secure the business at the lowest price possible. We work for "You" the buyer and not the seller.
We will search all available broker data bases and make the necessary cold calls and personal visits to businesses that may or may not be for sale that fit within the Buyers basic requirements. Once we find suitable businesses for sale, we analyze them for a realistic suggested market price and or business worth. When forming our opinion of the business worth, we look at more than just their profit and loss statements to determine a realistic sale price. We analyze their current performance (sales and Cost of goods sold) and compare their data to national accepted values. We analyze their lease, inspect and inventory their equipment and leasehold improvements, research the property to find any hidden value, assemble all current variable and fixed expenses as well as gross sales data including employee costs for the past six to twelve months. After we have analyzed and reviewed all relevant documents, we will prepare a custom comprehensive portfolio that best represents the highest market value for the business and submit to "you" the buyer our highest recommended offer for purchase.
Following the Buyer's review of the business portfolio and the decision to move forward, our Sales Agent will set up a visit to the Seller's business during non-operational hours. After the Buyer has visited the business, made a complete inspection of the business and has decided this is the business he or she wants to purchase, our Sales Agent will work with the Buyer in developing a successful purchase offer. Upon buyers review and written approval of the sales portfolio and purchase offer, we will submit on the buyers behalf the asset purchase agreement and aggressively negotiate with the Seller(s) and or Sellers agent the purchase of the business at your agreed upon purchase price, terms and conditions agreeable to all parties. The asset purchase agreement (the contract) contains all the details of the offer as to but not limited to the price to be paid for the business, what assets are included in the purchase, the amount of training to be provided to the Buyer, the time period and area to be covered by a non-compete, if there is to be financing by the seller and the details of the financing. It also gives the Buyer time to acquire and review the financial records of the Seller. The Sales Agent of McGinnty's Business Brokers Group will then work with the Buyer in securing the approval of financing, the transfer of licenses, the assignment of lease and franchise rights, and the performance of due diligence for the target business. An escrow attorney is retained by the Buyer and Seller to facilitate the closing of the sale. The attorney is responsible for filing the required paperwork, and ensuring that all licenses and leases are properly handled for the Buyer and Seller.
Seems simple? Even with Brokers representing both sides most deals do not close because of conflicts between the parties. We work very hard to keep both buyer and seller happy with each other and recommend very little communication between them until the day of closing. Logic: Buyers want to pay as little as possible and Sellers want to sell for as much as possible. During negotiations low offers and high counter offers ruffle feathers and vested parties become insulted and walk away. As an unvested middleman we can take the heat and shield the parties from the insults. Hence more deals close. Sometimes the agents get bruised but that's one of the reasons they are paid a commission.
Buying a Business
McGinnty's Business Brokers Group
If you are interested in having a McGinnty's Business Brokers Group Agent (Licensed Real-estate Professional) represent you in the Purchase of a Retail Business, a Hospitality Business, a Quota Style Liquor License or the Leasing of Commercial Warehouse, Office or Retail Space, Please do not hesitate to call us today and one of our Sales Agents will be more than happy to assist you. Remember, it is our job 24/7 to buy, sell and lease retail space, retail businesses, restaurants and bars...
Let us do the work for you.
In the meantime please take a look at our
Buyers Representation Agreement at the following link.