The old Dickens line, "It was the best of times it was the worst of
times…" really applies to buying a business in the Sarasota Bradenton
area at this time.
I have talked to numerous business brokers and prospective buyers and their comments are interesting.
The brokers report having a very difficult time pricing the businesses
and getting the owners to agree to a price, because nearly every
business reports lower income in 2008 and 2009 compared to 2007 and
The prospective buyers that I see are really working hard to fnd
businesses and there are a lot of buyers out there. But, they are
having a hard time finding a business they want to acquire. Due to the
uncertainty of future income levels, they are ultracautious and tend to
find one or more "critical flaws" that cause them to back away from the
Despite these challenges, I think that now may be the best time to buy a business.
The economy is causing a lot of business owners to reevaluate their
work lives and many businesses with strong potential can be purchased
for much less now than in prior years.
They key ingredients to making a deal seem to be finding a buyer with
enough resources to carry the business as it resumes growth and finding
a seller willing to accept that the sale price of the business should
be based on what it earns now and not what it earned in 2005, 2006,
2007 or what it may earn in 2011 or 2012.
For information about business brokers in the area, contact me at Chris@VisaAmerica.com