Corporate reorganizations are creating new business owners
While 2020 was a down year when it comes to the number of Jacksonville area companies sold, activity in the new year is brisk at least for one Northeast Florida business broker.
Bianca Evans, with Transworld Business Advisors, has closed 4 different deals totaling over 10 million dollars just a month and a half into 2021.
She attributes the increased volume in part due to a new flood of buyers in the market as a result of either corporate layoffs or changes in company structures demanding more out of their employees. That new reality for individuals prompted them to seek control of their destiny by buying their own businesses.
Adding to the business buying momentum are low interest rates and the Federal Government’s response to the ongoing health crisis. Through the Small Business Administration (SBA), new loan products were rolled out with history-making favorable loan terms. Perhaps most notable for prospective buyers was the waiving of the SBA loan guarantee fees. That’s a considerable saving considering the fee is usually 3.5% of loans $700,001- to $1,000,000. On top of that, the SBA is paying the first three months of principal and interest for new buyers.
Meanwhile, the reasons for selling are still present. It might be due to approaching retirement age, health reasons, or existing owners just being burnt out. While some of these reasons for selling could be delayed a few months, we’re approaching a year since the unprecedented nationwide shutdowns. Simply put, some owners have delayed listing their business long enough and are ready to exit now.
It’s not just in select industries either. Evans’ four sales represented two landscape service companies, a home contracting business, and even a restaurant.
Evans is quick to point out that there is more buyer demand than there are good companies for sale. 2021 is shaping up to be her best year yet. “There’s no substitute for great referral relationships and performing when sellers are counting on you to get their largest asset sold. I’m honored to represent sellers and buyers across the North Florida Region,” Evans says.
Her advice for business owners thinking about selling is to get a no-obligation, no-cost opinion of value. “To understand what life will be like without your business, you have to understand what you will net from the deal. Retirement, travel, and even future business deals hinge upon what you get to put in the bank.”
Regardless, for business owners and the brokers that represent them, 2021 is expected to be a special year.
About Bianca Evans
Bianca Evans is an experienced business broker based in Jacksonville, Florida. She is a top producer in her field. She has made over 160 transactions since 2006 which makes her among the most seasoned in the area. She is a Certified Business Intermediary (CBI), a Certified M&A Professional (CM & AP), a Board Certified Intermediary (BCI), and has her B.S. degree from the University of Florida.
Other notable accolades and achievements:
•The Million Dollar Plus Award 2008, through 2020
•Dealmaker Award top 3% in the state for completed deals 2018
-Most dollars sold in North Florida in 2018, 2019
•Sold an array of industries including manufacturing, wholesale/distribution, service, retail, restaurants, professional offices, and more.
•25 years of Sales Experience
She maintains her professional networks by participating in a variety of associations including the International Business Brokers Association (IBBA) and the Business Brokers of Florida (BBF).
One interesting fact about Bianca is that she used to be a business owner herself! She has been on both sides of the transaction when she purchased and later sold that same business. She finds that perspective invaluable when relating to her clients and balancing the many details and emotions.
She is licensed in Georgia and Florida and speaks fluent German.
To reach Bianca, email: [email protected] or visit her website https://www.myfloridabusinessbroker.com/