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Business Broker Recommendations

Discussion in 'RD's Lounge' started by broncomatt, Sep 14, 2019 at 1:09 AM.

  1. broncomatt

    broncomatt Active Member

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    So I was reading a post about someone leaving their job of 16 years to start a new direction in life and I am in much the same position. For the past few years I have been browsing the business for sale websites with the thought that I am at the point where I think that is the direction I should move.

    I of course mostly just day dreamed about it but got more serious 2 months ago when I realized I that while I could probably stay where I am at and live comfortably it really wasn't going to get me where I really want to be in the long run.

    After spending the last 2 months looking more earnestly at business financial statements and learning about the process I am now ready to look for a business broker to help me find the right business and aid me in working through to the sale.

    So does anyone here have any recommendations on a business broker or business advisors that might be good?

    I am in Southern California and looking for businesses outside of this state for sure...
     
    82daytona likes this.
  2. Riverbottom

    Riverbottom Well-Known Member

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    May I ask what industry, profession, business you are interested in ? I started my first small shop from scratch , and purchased my second one directly from the owner when he wanted to retire. Have never dealt with a broker.
     
  3. CoolCruzin

    CoolCruzin Well-Known Member

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    what type of business you looking for?
     
  4. LuauLounge

    LuauLounge Well-Known Member

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    Actually, if you know any CPAs, talk to them. I had a couple of opportunities presented to me when I was in my 30’s, unfortunately, I was too naive at the time to recognize the value. There are a bunch of folks that are looking to exit/retire that can make your dreams and their needs mutually met.
     
  5. CJ_Donahue

    CJ_Donahue Well-Known Member

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    Asking for a broker is like asking for an attorney. If you need a bankruptcy attorney and you get a child custody attorney you are screwed. Just like if you want to buy a gas station in Arizona but you get a broker who specializes in nail salons in Florida it wont end well.
     
  6. DrunkenSailor

    DrunkenSailor Well-Known Member

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    Depends on the business I have a great one but it depends on what the business is.
     
  7. Moneypit

    Moneypit Ol' school kid..........

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    I'm afraid you've left out a little too much for any of the RDP's "brain-trusts" to jump in. Don't get me wrong, the connection you're looking for can be found here, but the advise side needs a little more information.. For example, what have you been doing to earn a living? How long, and do you want to branch out in that same line, but on your own?? The only thing you have made clear is your desire to get out of California... Good idea...Think about what you really want to do and get back to those here much smarter than me. The "Broker" type you seek may very well be here. This Forum has a group of amazing people in it....
    Ray
     
    evantwheeler likes this.
  8. broncomatt

    broncomatt Active Member

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    I am currently a product designer but have a decent background in marketing and helped start the company I currently work at - I owned 10% of it. It has been sold a few times and while I still enjoy doing the Industrial Design/Engineering I find myself missing being more involved and working ON the business vs. IN it.

    I don't see myself staying in this same industry because it is small. I am looking to get into the automotive side of business and have been looking at several different auto repair shops, quick lube stores, and tire shops.
     
  9. pronstar

    pronstar President, Dallas Chapter

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    I dunno if it was one of my posts, I left my advertising career and am now in real estate investing and I LOVE it.

    One thing you might want to consider is a mentor. I’m in a mentorship program right now, the money invested has already paid dividends

    Edit:
    Posts not pairs

    Sent from my iPhone using Tapatalk Pro
     
    Last edited: Sep 20, 2019 at 1:47 AM

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