WELCOME TO RIVER DAVES PLACE

Business Broker Recommendations

broncomatt

Well-Known Member
Joined
Aug 5, 2013
Messages
48
Reaction score
15
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...
 

Riverbottom

Well-Known Member
Joined
Oct 30, 2007
Messages
2,338
Reaction score
2,510
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.
 

LuauLounge

Well-Known Member
Joined
Jul 24, 2010
Messages
3,374
Reaction score
6,369
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.
 

CJ_Donahue

Well-Known Member
Joined
May 24, 2018
Messages
1,085
Reaction score
2,482
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.
 

DrunkenSailor

Well-Known Member
Joined
Apr 11, 2017
Messages
7,471
Reaction score
10,397
Depends on the business I have a great one but it depends on what the business is.
 

Moneypit

Ol' school kid..........
Joined
Dec 19, 2007
Messages
2,115
Reaction score
1,745
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
 

broncomatt

Well-Known Member
Joined
Aug 5, 2013
Messages
48
Reaction score
15
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.
 

pronstar

President, Dallas Chapter
Joined
Aug 5, 2009
Messages
34,461
Reaction score
40,892
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...

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 [emoji106]

Edit:
Posts not pairs

Sent from my iPhone using Tapatalk Pro
 
Last edited:

broncomatt

Well-Known Member
Joined
Aug 5, 2013
Messages
48
Reaction score
15
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 [emoji106]

Edit:
Posts not pairs

Sent from my iPhone using Tapatalk Pro

It might have been your post. Did you just find someone in the business that offered mentoring? Because it is something I have thought about for sure.
 

pronstar

President, Dallas Chapter
Joined
Aug 5, 2009
Messages
34,461
Reaction score
40,892
It might have been your post. Did you just find someone in the business that offered mentoring? Because it is something I have thought about for sure.

We share a CPA, who basically said to me “this guy is killing it doing what you’re doing. He has a mentorship program, here’s his number if you’re interested”.

Somewhat surprisingly
To me, I found that there are very senior people in all walks of life/business who still have mentors. It proves there are always things we can do to optimize our systems.

My rationale was, why learn from mistakes that I’ll inevitably make, when I can learn from the mistakes of others by standing on the shoulders of giants?

It’s a great kick-start that’s already paid massive dividends for me [emoji106]


Sent from my iPhone using Tapatalk Pro
 

PaPaG

Well-Known Member
Joined
Dec 21, 2007
Messages
4,332
Reaction score
4,701
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...

What kind of industry are you looking to get into? ok I read above and found it...keep your options open, you may find a business that you never thought of getting into and BOOM it can be a great idea and money maker...
 
Top