Buying a Florida Business-The New Norm

November 22, 2017

As we start the Thanksgiving Holiday, and people are reflecting on Giving Thanks, I am sharing what I am seeing in the dynamic of why people are Buying a Business in South Florida.Whether you are thinking of moving to South Florida or you already live here, we are seeing a significant trend in the way people are thinking about their retirement. With all of the Baby Boomers moving to Florida and enjoying the great weather and a more relaxed lifestyle there are great opportunities to meet their needs for all of the goods and services they require. Just about every type of business that caters to this population and to the newly revived real estate market is currently experiencing a re-birth along with healthy growth. What is surprising is the number of people who are taking advantage of this market by buying service businesses. Here are a few of the groups that seem to make up a large part of this trend:

First there are South Florida residents who are leaving the jobs they currently have and selling the businesses that they now own to buy businesses that cater to this trend in the areas where the growth is strongest, such as Broward and Palm Beach Counties. They are buying just about any type of business in Boca Raton, Fort Lauderdale, West Palm Beach, etc..that fits the growing needs of this population. They repeatedly tell us that they see this trend continuing for years and that is where they want to be. We think they are exactly correct in positioning themselves this way for the foreseeable future.

The next group that we hear a lot from is people from across the country who have been planning to retire to Florida and have been telling us two different stories. Many see the strong growth in our area as an opportunity to speed up their move to Florida where they see a stronger business climate than where they presently live.  Others are representative of the ‘New Norm’ and are now changing their retirement plans to include a new business venture to supplement the income that has been diminished by the value of their real estate holdings and other assorted ‘victims’ of the changing economy. It is interesting to note that we have seen some people collaborate with friends and relatives to collectively buy a business that they can each work in part time. This may be an interesting trend in itself to watch as it does seem to make a lot of sense for a growing number of people.

Buying a business in Florida is a particularly good idea for a large number of those who want to retire however they are not able to live reasonably on their social security and their savings. Many had planned on a certain return from dividends or interest from their savings and now find these returns almost negligible. In order to supplement their income many are finding that taking their years of experience and putting it to work by buying a business is the most viable option. We see this more and more and I am sure that this trend will continue at least for the foreseeable future. The dream of retirement has been dashed for many Boomers and they have accepted the ‘New Norm’ and are adjusting accordingly.

The business brokerage business in South Florida is very strong right now and it is interesting to note how many people we speak with who just are tired of their present job or business and just want to try something new that they believe they will enjoy more. We love working with this group because of their enthusiasm and their determination to improve their lives. After all, that is what it is all about.

Financing the purchase of a Business in South Florida has become much easier for those with good credit. Additionally, being able to use the funds in your Retirement Account to acquire a business has become a part of the New Norm as the stock market has reached new highs on a daily basis. Also, Seller Financing is available on many of the businesses we currently have available for sale in South Florida.

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Please contact me at: edwardsklar@southfloridaforme.comfor sale

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Public Relations/Digital Media-For Sale

August 4, 2017

The award winning company has a 30+ year history and has represented a range of companies from Fortune 500 to small firms. In addition to traditional Public Relations, the company is nationally recognized leader in Crisis Management. Additionally, the company has built Digital Media, Video Production, and a Talent Agency into their offerings.

 

The company is a profitable Public Relations firm located in South Florida founded by a legendary figure in the industry. The company has a multi-lingual staff, and has affiliated offices across the world.The staff will remain with the company.

Would you have an interest in learning more about this opportunity? If so, I will send you an NDA, and upon receipt I will send an offering memorandum

 

Please send inquiries to: edwardsklar@southfloridaforme.com

Edward Sklar

Business Broker & REALTOR

United Realty Group/South Florida for Me

 

Search All Businesses for Sale in Florida

Florida Business for Sale

For Sale-Company Specializing in Crisis Management,Public Relations, & Digital Media

July 25, 2017

Has your Company Reputation been Shanghaied? Business Broker working with the sale of a Public Relations company that specializes in Crisis and Media management led by an Industry Guru. This Florida based company has the skill set to handle all Public Relations outreach for your organization, and show a substantial profit. The company has international affiliates, and the multi-lingual staff will remain with the company. This company is attractively priced in the $1m range

For details contact: edwardsklar@southfloridaforme.com

 

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Using your Retirement Account to Buy a Business

June 30, 2017

Buying a Business using your Retirement Account

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SEEKING FUNDING TO BUY A BUSINESS?

Have you considered using your Retirement Account? Learn more at app.guidantfinancial.com/Partner/Prequal/GetByName/unitedrealtygroup
Searching for the right Business to Buy?
email me at: edwardsklar@southfloridaforme.com

Zen & the Art of Selling your Business

June 1, 2017

Zen emphasizes rigorous self-control,, and the personal expression of  Doing Good in daily life, and Buddhism explains a purpose to life, it explains apparent injustice and inequality around the world, and it provides a code of practice or way of life that leads to true happiness.

 

A South Florida Business Broker has created a Zen Concierge Model to Selling your Business that provides a No Stress approach to the owner, and No Fees until your Business is Sold. Selling your Business

 

Confidentiality is a key component to our approach and your employees, customers, and suppliers are not alerted to the fact that your business is for sale. A binding Non Disclosure Agreement is signed by every prospect prior to receiving any information about your business.

 

The Concierge approach entails providing a custom Business Plan to reflect the potential value for your business. The Business Plan becomes the “Secret Sauce” to maximizing the value of your business, and clearly differentiates South Florida for Me Business Brokers in this space.

 

Our extensive database of buyers include Private Equity firms, Corporations, and Qualified Individuals who are looking for niche businesses whose potential has been limited by lack of capital, sales, or marketing resources. We currently have a strong demand for businesses with revenue between $500,000-$3,000,000.

 

Our Social Media Network is expansive, and Edward Sklar is one of the most socially connected Business Brokers in South Florida, with literally hundreds of thousands of professional connections across the country.

 

Also, Edward is a REALTOR, and used his Real Estate connections as a Referral Database

The www.southfloridaforme.com team of United Realty Group is accepts referrals from agents for clients interested in purchasing a business in South Florida.

If the ZEN Concierge approach sounds interesting please contact me at:

edwardsklar@southfloridaforme.com

www.southfloridaforme.com

How much is your Florida Business worth?

December 6, 2017

Florida Business Brokers

How much is your South Florida Business worth? If you are selling a business in Florida, or considering taking in an equity partner there are norms that we have found for valuations based on the sale of business in Boca Raton, West Palm Beach, Fort Lauderdale and Miami. To learn more about valuation of a business in Florida www.southfloridaforme.com/SELL-BUSINESS/VALUATION

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How much is your Florida business worth?

December 6, 2017

via How much is your Florida Business worth?

How much is your Florida Business worth?

December 6, 2017

How much is your South Florida Business worth? If you are selling a business in Florida, or considering taking in an equity partner there are norms that we have found for valuations based on the sale of business in Boca Raton, West Palm Beach, Fort Lauderdale and Miami. To learn more about valuation of a business in Florida www.southfloridaforme.com/SELL-BUSINESS/VALUATION

SBA Financing Rules are Changing

November 24, 2017

via Buying a Business with SBA Financing

Buying a Business with SBA Financing

November 24, 2017

We wanted to wish all of you a very happy holiday and tell you how thankful we are for your partnership. Our South Florida Business Brokerage also wants to make sure we are communicating any changes coming to our industry in a timely manner.

There has been a lot of chatter and confusion around changes in SBA lending coming in 2018. We have met with some of our top lenders as well as reviewed the details outlined on the SBA website and wanted to distill down information that pertains to our business. The changes outlined below will go into effect on January 1, 2018.

  1. Franchise Registry: The franchise registry will be managed and updated by the SBA. In order for a franchise to be approved for an SBA loan, they must be on the approved SBA Franchise Directory. All franchises must submit their franchise agreement and FDD to the SBA directly to be approved. The full list, as well as instructions for being included on the directory, is available here.
  2. 10% Equity Injection: The SBA will require a borrower to contribute no less than 10% of the total project costs for a start-up or change of ownership (acquisition) loan (there was no minimum in place by the SBA previously). Individual banks usually require a 20 – 30% equity injection, but it remains to be seen whether these standards will be lowered. We are communicating closely with our partner lenders to better understand how this might affect lending.
  3. Seller Debt cannot be considered Equity Injection. A seller note may not be used toward the 10% equity injection required from the borrower. We can still use seller debt to reduce the SBA loan amount, but the repayments will need to be factored into the debt service coverage ratio calculation by the lender. This change is most likely to have immediate implications, so we will be paying close attention to how lenders structure deals that include a seller note.
  4. Removed the 25% Equity Injection Rule when Goodwill exceeds $500,000. Equity injection requirements for business acquisitions will now be made at a lender’s discretion as long as they still comply with rule #2 above. We don’t expect a large change from the 20-30% we have been seeing.

Please feel to reach out to me should you have further questions regarding these changes. By working together, we will ensure you get the funding you need.

Have a wonderful Thanksgiving.

Search Businesses for Sale South Florida

edwardsklar@southfloridaforme.com

 money in bank

South Florida Business Broker announces client being acquired by public company

October 24, 2017

Edward Sklar, of the South Florida for Me team of United Realty Group has announced that a Boca Raton company he has listed is in talks to be acquired by a public company.

Sklar attributed the quick interest in this business to the Concierge Business Broker approach he has taken with businesses which includes limiting the amount of businesses he handles at any given time. Additionally, his unique approach of developing a custom business plan for each business he lists maximizes the value the business owner receives.

Business Broker South Florida

Please see full description of acquisition below:

 

iTeknik Holding Corporation (OTC: ITKH) in Acquisition

Talks with TransMedia Group

wall-street.com /teknik-holding-corporation-otc-itkh-in-acquisition-talks-with-transmedia-group/

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The Awarding Winning International PR firm TransMedia Group

The awarding winning, multi-lingual international PR firm TransMedia Group (http://www.transmediagroup.com) said it

is in discussions to be acquired by a public company, iTeknik Holding Corporation (OTC PINK: ITKH).

Serving clients worldwide since 1981, TransMedia Group has the strong market presence, brand awareness,

talented and dedicated staff that iTeknik finds attractive, said TransMedia Group CEO Tom Madden.

iTeknik is in the process of implementing a strategy

iTeknik said it’s expanding its acquisition strategy to include PR after meeting Madden, the “Spin Man” himself, and

seeing the amazing success his PR firm TransMedia Group (http://www.transmediagroup.com) has had in helping its

clients to grow and prosper.

iTeknik (www.iTeknik.com) is in the process of implementing a strategy to acquire fundamentally sound companies

that are market accepted, scalable and demonstrate a quantifiable value proposition.

1/5

Fred Wicks, Chairman and CEO of iTeknik.

“Until recently, our focus has been to acquire companies involved in marketing, advertising and digital media, but

after meeting Madden and his stellar staff, we’ve added PR to the mix and were now in discussions with TransMedia

Group in that regard,” said Fred Wicks, Chairman and CEO of iTeknik.

“We could provide TransMedia Group with exemplary marketing, advertising and digital services for its clients.”

Press Release

Tom Madden founder of TransMedia Group in New York City

Madden founded TransMedia Group in New York City

soon after he left NBC, where he was Vice President,

Assistant to the President, then Fred Silverman, for

whom he worked previously at American Broadcasting

Companies.

Among TransMedia’s first clients were AT&T, Kellogg’s,

Drexel Burnham Lambert and the City of New York, for

whom TransMedia created award-winning PR

campaigns, one promoting fair housing in the city that

earned TransMedia a coveted Bronze Anvil Award from

the Public Relations Society of America.

TransMedia helps client companies sell

for billions.

In 1987, Madden relocated the firm to South Florida

where today it operates out of a commercial building

Madden owns in downtown Boca Raton. One of his

former clients, Carl DeSantis credits TransMedia’s

publicity for increasing the nutritional supplement

company’s revenues from $150 million to over $900

million until DeSantis sold the public company for $1.6

billion. TransMedia’s publicity helped the stock of

another DeSantis company, Celsius Holdings Inc.

(CELH:US) to rise from $ .30 to $5.00. The company

today is on NASDAQ CM.

One of TransMedia’s growth areas is its newly-established talent and modeling division, TransMediaVersatileTalent

(TVT), which currently is signing many celebrities whom it will represent as their agent and manager. For rising

talent Lynn Aronberg, TransMedia arranged for her to be in the cast of upcoming reality show, Palm Beach

Housewives after booking her for interviews on FOX TV, Inside Edition and with Wasington Post and other media

outlets worldwide.

2/5

ITeknik Revenues Rising

Madden said he is impressed how iTeknik’s revenues are expanding. iTeknick’s revenues for the year ending June

30, 2017 were $1,144,925 vs. $952,149 for the year ending June 30, 2016.

iTeknik has transitioned from the Telecom industry to Marketing, Advertising and the digital media space with the

start-up of its Big Rhino Agency in January, which was able to increase its revenues by more than a hundred

percent, said Madden.

Wicks said he is looking to acquire companies that have the potential to achieve exceptional performance over time

with a focus on the Marketing, Advertising and Digital Media and now the Public Relations space.

iTeknik lends its operational support, management approach and financial resources to these companies to help

them achieve improvements in revenue, earnings growth and positioning in the marketplace.

3/5

Big Rhino Corporation added several Las Vegas based clients

iTeknik currently operates Big Rhino Corporation as a wholly owned subsidiary, while actively seeking additional

acquisitions.

Big Rhino Corporation, a startup in January 2017, has increased its revenues by 101% through August. It has

expanded its business in Las Vegas by adding several automotive clients to its existing Arizona and California

dealerships. Big Rhino has also diversified into the medical and real estate markets.

“Our strategy is to tap the synergy among these acquisitions to maximize organic growth, improve profitability and

leverage client and supplier relationships,” Wicks said.

Wicks has substantial experience in marketing, holding positions such as Editorial Director for Creative Universal,

Director of Marketing Services for a $3 billion division of Rockwell International Corporation and worldwide

marketing responsibility for a $400 million division of Invensys Air Systems.

Wicks Marketing Group founded in 1990

He was also the CEO and President of The Wicks Marketing Group, Inc., a consulting company that he founded in

1990. He is a former Senior Vice President with the CompAir Division of Invensys Air Systems, where he had P & L

responsibility for $200 million in European and South American businesses.

Wicks also had responsibility for world-wide product management and engineering. He has a Bachelor of Arts in

Journalism and an MBA degree from Wayne State University in Michigan

Learn more about TransMedia rated as the “BEST PR FIRM IN SOUTH FLORIDA”

4/5

TransMedia Group’s Talent Division

Provides Oomph To Its PR Campaigns

For more information: contact Adrienne Mazzone 561-702-4999; amazzone@transmediagroup.com.

5/5

Baby Boomers Buying Businesses

August 20, 2017

Baby Boomers Dilemma-Buying a Business at your Age?

 

As a card carrying member of the Boomer generation and a South Florida Business Broker  I hear the stories of why business owners are selling their Florida businesses. Perhaps even more interesting is why so many Boomers are interested in Buying a Florida Business at this stage of their life.

Search Florida Businesses for Sale

This is because many Baby Boomers in Florida are too young to retire, and are facing age discrimination in the corporate world.  What is a better way to use your years of experience in the corporate world than to leverage your strengths  and buy a business in Florida?

 

An interesting tidbit is that those in the age group between 55-64 years of age form businesses at a higher rate than any other age group. Many people in this group have substantial retirement accounts but  realize that starting to use these funds too early makes retirement a tradeoff of trying to live life on a fixed and limited income.

Many people are realizing the cost of living in many places in the country does not enable a lifestyle that is conducive to quality of life that you have work so hard to achieve and why Florida has become a leading choice for those seeking a lifestyle change.

 

As a Boca Raton Business Broker I am primarily involved with South Florida businesses for sale which includes business listings in Palm Beach, Broward, and Dade Counties. However, my membership in the Business Brokers of Florida (BBF) gives me an opportunity to find businesses for sale throughout Florida.

 

Many people I have spoken with are not certain which type of business makes the most  sense for them which has prompted me to create a questionnaire to help narrow down the choices. If you have an interest in receiving a copy of this document send me an email
edwardsklar@southfloridaforme.com  and I will be pleased to send it to you.

 

 

 

 

 

Many of the businesses we have available offer owner financing but

 

here are the most popular funding solutions we use to provide funding:

  • 401(k) Business Financing (Rollovers for Business Start-ups)
  • SBA Loans
  • Unsecured credit
  • Portfolio Loans

 

 

Please think about how secure you will feel in buying a business with established cash flow where your expertise can bring it to another level. All of our clients receive an opportunity to work with our team of professionals for assistance in areas such as legal, accounting, marketing, sales, and business planning.

 

For Sale/Partnership-Skin Cancer Diagnostic Lab Business

August 13, 2017

South Florida company has saturated local market with 14 Medical Laboratories placed in local Dermatology offices. This concept enables patients to receive Next Day Diagnosis to verify if their growth requires further action. The owner is seeking a Strategic Buyer/Partner who has the resources to grow this proven profitable business outside of this local area. Dermatologists are eager to place a lab in their office as it generates a substantial profit center from a small office (or even a closet). Also, patient satisfaction is enhanced by their ability to receive a rapid diagnosis instead of having to wait a week until the lab results come back from the external lab.

Please send your name, address, email, and phone to receive an N.D.A. and Offering Memorandum

Contact:edwardsklar@southfloridaforme.com

Edward Sklar, Business Broker/REALTOR

South Florida for me/United Realty Group

Search Businesses for Sale in Florida

http://www.southfloridaforme.com

Digital Media/P.R. Agency-For Sale

August 5, 2017

There was a time when the Newspaper was the only tool for spreading the word to the masses, but times have changed:

Integration of broadcast, print, and digital media into one multi-faceted agency All components have been rolled into this company, as well as a talent agency and a video production company, This agency has a multi-lingual staff, and affiliations with companies across the globe. The client base has ranged from Fortune 500 to local businesses in South Florida where the company is based.

The Founder is a legend in the P.R. industry and will consider remaining with the company. Senior Management runs the day to day operations and will remain with the company. A rolodex of personal media contacts enables this agency to place products and stories across multiple media creating a synergistic effect.

Please email me to receive an N.D.A. edwardsklar@southfloridaforme.com

Edward Sklar, Business Broker & REALTOR

South Florida for Me/United Realty Group

http://www.southfloridaforme.com