From the Trenches - Interview With Florida Business Broker Charlie Meeks
Sit-Down Interview With Business Broker Charlie Meeks
What are your thoughts on where business acquisition & sale market activity is heading over the next 3-6 months?
I believe that there will be significant opportunities to assist our clients through the sale of their business and with the influx of new Florida residents there will be great opportunities to assist buyers as well.
What do you see as the most significant SELF-IMPOSED threats out there that could hurt the market for business acquisition & sale and small business activity in general?
If the trend continues whereby everyone continues to hunker down under the threat of COVID-19 we are in for a very long recovery.
That recovery may not even be realized is our political client doesn't correct itself as well. Business owners will not contemplate a structured exit for their business, but rather sell out of fear that they could lose everything.
So there are two issues to consider as we move forward that could threaten the survival of our total social system.
What do you see as the top three things the government needs to do to support the main street business acquisition and sale opportunities for small business owners through the remainder of this year?
Lift the restrictions on how businesses operate.
Allow businesses to function as they have in the past.
Keep our tax structure in place as it is.
Eliminate ObamaCare
Let businesses run themselves instead of allowing government to override what has worked for many years.
What do you see as the top three reasons to BUY a business in 2020?
The inventory is available and unfortunately, the prices are lower than they have been for many years. This is difficult as there are so many uncertainties at this time in our economic environment.
7 critical points every business owner must know berfore selling their business
What are some of the questions a business owner should ask when choosing an advisor to help buy a business or work on exit planning to help navigate through this challenging stretch?
When choosing a business broker to help you sell your business, be sure to ask the following questions:
What is your experience in selling a business like mine?
How will your market my business for sale?
How will you price my business so that it will sell quickly?
What do you know about my industry and where to find the likely buyers?
buying a business - where do you start
How would you rate the current political environment related to small business growth, business acquisition & sale?
2/5
What are your thoughts on transaction terms for buyers & sellers in the current market?
There needs to be flexibility on the parts of both buyers and sellers to get the deals done. There needs to be some seller financing.
Sellers need to provide a comfort level to the buyer regarding retention of the customer/client base.
Thoughts on business valuations in today's market?
Business valuations are very important in the determination of what a business may sell for.