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Around one-third of the businesses that we list for sale also involve the sale of the underlying real estate. As licensed real estate brokers and agents we can handle all of the details of that transaction too-from showing the property, guiding the process through a title company, ensuring that the buyers perform adequate due diligence, obtaining proper environmental reports and clearances, getting suitable financing for the transaction and more. In short, when you list your business with First National Business Corporation, there will be no worries about any aspect of completing the transaction to the satisfaction of all parties. Always a concern when real estate is involved: what is the right price for the real estate? You can be sure that when bank financing will be involved there will be an appraisal required by the lender. An appraisal that is a year or two old won’t pass muster. Different lenders may vary on the degree of complexity required: obviously a two-million-dollar property will necessitate a more thorough examination than a one-hundred-thousand-dollar parcel. Here is what we will make sure doesn’t happen: we won’t take the listing at some exorbitant price just for the sake of adding a listing to our books. That doesn’t do FNBC any good as the broker. It doesn’t do the business and property owner any good either. A listing priced too high will run off the serious, qualified buyers. The only lookers we will get for those kinds of listings will either be unqualified or eventually come to the realization that it is a bad business deal in the making. Remember: we do want to list both your business and any underlying real estate for the maximum amount that can be substantiated. Not only does that provide you with greatest yield when the deal closes, but we are on commission on every deal. That is a win-win for both the client and the broker. But we need to remain realistic and keep the listing price very near the true value of the deal. We not only have to convince a buyer that the deal is worth the money-we have to convince a lender to provide the capital. We have many resources at our disposal to help determine the value of underlying real estate. You may decide to hold on to the real estate and only sell the business. We are prepared to help you compare all the options; then you select the one that makes sense for your situation.

Mike was a small businesses owner in central Kansas for over 25 years. He sold the companies before moving to Kansas City in 2003. He has been a business broker for 10 years and worked as an SBA loan officer. Mike understands the importance of running your business with an end game in mind. As a former SBA loan officer, he has the expertise to help you understand and prepare for the questions lenders will ask before funding a business acquisition. Having a broker and experienced lender on your side is crucial to successfully navigate the buying, selling and funding processes. Mike has two children and four grandchildren. Mike enjoys traveling, music, movies, golf, watching the Chiefs and spending time with his family.

Just as a marathon runner spends months and years in training and preparation for running 26 plus miles, so should a business owner spend adequate time in preparation for the eventual sale of his business.

A business broker works with you to assess your needs and helps you through the process of buying a business. Here are some of the things a broker does.

You have often heard the phrase “timing is everything” to emphasize the difference even a day can make in how life plays out.