Business brokers need to understand the priorities and goals of both parties and the motivation of the seller in order to negotiate the best terms and price.
Milwaukee, WI (PRWEB) September 18, 2012
T&D Jewelry Sales Inc. recently sold after a quest to find the perfect buyer. The distribution business with annual revenues of nearly $900,000 was on the market since 2009. “This is a unique niche business, ran by a husband and wife team that required a very specific buyer,” said Mark. “Part of the challenge in selling any business is matching the business to the right buyer. When representing a business for sale there are many factors to consider in order to market the opportunity to prospects that are qualified, meet the financial criteria and have a personality to suit the businesses operations and customers. As a business broker, keeping in mind the personal nature involved in selling a business is key to bring together both buyer and seller. Particularly in selling this distribution business it was the most important factor.”
That perfect buyer was Andrew Quandt, an aspiring entrepreneur with a background in sales. Quandt originally inquired about the business in March of this year through an advertisement placed by Sunbelt on Craigslist.org. “Quandt, had the qualifications and the personality for the business but he was going to need seller financing to close the deal. This is where the knowledge and years of experience working on various business transactions comes into play. Business brokers need to understand the priorities and goals of both parties and the motivation of the seller in order to negotiate the best terms and price. In this transaction, it was extremely important to the Seller that his business sold to the right buyer.” Said Mark, “After the initial consultation with Mr. Quandt, I was confident the personalities matched enough to have a meeting of the minds and agree on terms of seller financing. There is an art to selling businesses and this buyer and seller match was a masterpiece.”
From initial inquiry to sale took five months for this business to close. Most transactions have their own timing structure and can involve a lot of moving parts. Both buyer and seller will typically have their own attorneys and accountant review financial information to advise them through the process. A typical scenario is that a buyer makes a substantial down payment and a seller note utilized for the balance of the purchase price. For this sale, the buyer and seller came to a mutual agreement that combined buyer down payment, bank financing and seller financing. Small business lawyer, J.P. Fernandes, facilitated the closing on behalf of all parties involved in the transaction.
About Mark Kuether
Mark Kuether has more than a decade of experience working with and for small business, ranging from retail to manufacturing. Mark worked exclusively on closing the top deal ever recorded of a small manufacturing concern, the buyer being a Fortune 500 company. He has also worked hand-in-hand with the top executive in design and implementation of new product lines. Mark’s past experience includes national sales management and execution of national marketing strategies for retail and manufacturing companies. Mark brings a level of creativity to the process of buying and selling a business that is often required in complex transactions. Mark has earned the Sunbelt President’s Award for achieving milestones in annual sales. Mark has been a member of the Milwaukee office of Sunbelt Midwest since 2004, helping people buy and sell businesses throughout the state of Wisconsin.
About Sunbelt Midwest
Sunbelt Midwest is an elite division of Sunbelt, the largest organization of business brokers and M & A professionals in the world. With five offices in Minneapolis, Minnesota; Chicago, Illinois; and Milwaukee, Wisconsin, Sunbelt Midwest is a premier brokerage. The business brokers and M & A intermediaries of Sunbelt Midwest, consistently rank in the top performers of Sunbelt International. Because of this team’s expertise, it has been trusted with coordinating all of the national franchisor relationships for Sunbelt. Because of this interaction, Sunbelt Midwest has a unique ability to market businesses throughout Sunbelt internationally. Sunbelt truly has GLOBAL reach!