CORE Corporate Advisors
Commercial Banking experience culminating
Has 35+ years of Commercial Banking experience culminating in his being a founding organizer, President and Board Member of a local Community Bank. Prior to the organization of the Community Bank, Hank held various positions to include, Branch Manager, Branch Administrator, Chief Lending Officer and Chief Operating Officer. His primary focus has always been on the Commercial side of the Bank where he worked with businesses of all types and sizes providing them with financial advice and loans.
Hank has a degree in Business Administration from Illinois State University in Normal, Illinois. He is a graduate of the National Commercial Lending School at the University of Oklahoma in Norman, Oklahoma. Other training has included the IBM Management Training Course, the Xerox Professional Sales Training Course and the six month Buck Bierly course on the Commercial Sales process.
CORE Corporate Advisors
My Services
Welcome to a world of tailored solutions and expert guidance. My services are designed to cater to your unique needs, whether you’re an entrepreneur ready to embark on a new venture or a business owner seeking to transition. From initial consultations and precise valuations to strategic marketing, skillful negotiations, and seamless closings, I provide end-to-end support throughout your business journey. My experience spans diverse industries, ensuring that I can assist you in various sectors.
Explore my services today and take the first step toward a successful business transaction.
Business Sales & Acquisitions
Business Valuation
Confidentiality & Privacy Assurance
Negotiation & Deal Structuring
Due Diligence Support
Franchise Buying & Selling
Exit Planning & Succession
Remember that each business sale is unique, and it’s essential to work closely with a qualified business broker to navigate the process successfully and achieve your desired outcome.
CORE Corporate Advisors
Frequently Asked Questions
Commonly asked questions about my services, the buying and selling process, and fees involved:
A business broker is a professional who assists business owners in selling their businesses or helps prospective buyers find and purchase businesses. Brokers facilitate the entire transaction process, from valuation and marketing to negotiations and closing.
Selecting the right business broker is crucial. Look for a broker with experience in your industry, a solid track record of successful deals, and a good understanding of your specific needs and goals. References and client testimonials can also be helpful in the selection process.
The process typically involves the following steps: a. Valuation: Determine the fair market value of your business. b. Preparation: Prepare financial documents, contracts, and other necessary paperwork. c. Marketing: Your broker will create a marketing plan to attract potential buyers. d. Screening: The broker screens and qualifies potential buyers. e. Negotiation: Your broker assists in price and terms negotiations. f. Due diligence: Buyers investigate the business’s financials, operations, and legal status. g. Closing: Finalize the deal, transfer ownership, and handle any necessary legalities.
The time it takes to sell a business can vary widely based on factors like industry, location, market conditions, and the complexity of the business. On average, it can take several months to a year or more to complete a sale.
Business brokers are typically compensated through commissions, which are a percentage of the final sale price. Commissions can vary but are often in the range of 5% to 10% of the sale price. The exact percentage may depend on the size and complexity of the transaction.
Some brokers may charge upfront fees for services like business valuation, marketing, or administrative costs. However, reputable brokers often earn their fees through the commission when the business is sold. Be sure to clarify fee structures with your broker before entering into an agreement.
Yes, it’s possible to sell a business without a broker, but it can be a complex and time-consuming process. Brokers bring expertise, industry contacts, and negotiation skills to the table, which can help maximize the sale price and streamline the process.
Experienced brokers take confidentiality seriously and use various strategies to protect it, such as using non-disclosure agreements (NDAs), not disclosing the business’s name or location until qualified buyers are identified, and using generic marketing materials.
CORE Corporate Advisors
Why Should I Use A Business Broker
10 Reasons why a business owner should consider using a business broker:
Business brokers specialize in buying and selling businesses. They possess a deep understanding of the process, market trends, valuation techniques, and legal requirements. Their experience can help navigate the complexities of selling a business successfully.
Selling a business often requires discretion to protect sensitive information. Business brokers can maintain confidentiality throughout the process, ensuring that employees, customers, and competitors are not aware of the sale until it’s finalized.
Selling a business can be time-consuming and distracting for a business owner. By delegating the sale process to a broker, the owner can focus on running the business while the broker handles the sale details.
Business brokers have extensive networks and databases of potential buyers, including investors, entrepreneurs, and individuals looking to acquire a business. They can connect sellers with qualified buyers more efficiently than an owner trying to sell independently.
Determining the correct value of a business is critical for a successful sale. Brokers have access to valuation tools and market data, enabling them to assess the fair market value of the business and maximize the sale price.
Brokers use various marketing channels to promote the sale of your business, including online listings, industry publications, and their own networks. This exposure increases the chances of finding the right buyer quickly.
Negotiating the terms of a business sale can be challenging. Brokers are skilled in negotiations and can help secure the best deal, protecting the owner’s interests.
Business sales involve legal and financial complexities, such as contracts, due diligence, and financing arrangements. Brokers can coordinate with legal and financial professionals to ensure all aspects of the sale are handled correctly.
Brokers provide a structured and organized approach to the sale process, from preparing the business for sale to closing the deal. This minimizes potential disruptions to the business and reduces the risk of errors or oversights.
In summary, using a business broker can streamline the sale process, enhance confidentiality, leverage expertise, and ultimately lead to a more successful and profitable business transaction.
It allows the business owner to benefit from professional assistance while continuing to focus on running their business until the sale is completed.
Contact Hank A. Goldsby
Business Broker
Email: hgoldsby@gocorebiz.com
Tel: 941-726-2259
Office: 941-584-8566 Ext 120
Fax: 941-441-9396