Acquiring Minds How to Get Good Deals from Brokers
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Jun 7, 2022 Clint Fiore, President and founder of Texas Business Buyers, shares invaluable insights for aspiring business buyers. He explains key strategies to build strong relationships with brokers, emphasizing the need to differentiate serious buyers from tire kickers. Clint delves into seller psychology, particularly among baby boomers, and the importance of understanding market dynamics. He also highlights effective outreach strategies and introduces a subscription-based newsletter that offers exclusive deal access. This conversation is a must-listen for anyone looking to buy a business!
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Be Specific With Broker Inquiries
- Avoid sending generic, form email inquiries to brokers without researching their current listings.
- Instead, review broker marketplaces and inquire specifically about listed deals to get better responses.
Show Financial Readiness and Simplicity
- Demonstrate financial readiness by having down payment and SBA lender relationships lined up before engaging brokers.
- Avoid over-complicating NDAs to not raise red flags; sign promptly to build trust.
EBITDA Sweet Spot for Buyers
- Businesses with adjusted EBITDA between $200K and $800K offer a sweet spot for ROI and less competition.
- Above $1M EBITDA, competition intensifies with institutional and private equity buyers raising multiples.
