AmiSight 10/26: Learning from the Chief of Transworld Business Brokers
Today’s podcast discusses what's going on in the mergers and acquisitions market with the CEO and owner of Transworld Business Brokers, Andy Cagnetta.
While looking to buy a business, Andy encountered Transworld Business Brokers and was offered a position as an agent. Andy later purchased the company and expanded it to become the number one business brokerage and international franchisor through a partnership with United Franchise Group. They currently have over 600 business brokers in the organization and have over 5,000 businesses for sale. They also have 200+ franchisees in the US and several internationally. Andy is also a recognized speaker and trainer in business sales, valuation, and negotiations.
Right now, Andy sees a crazy marketplace. Money is still cheap and plentiful for individuals and companies who want to go out and buy a business. Some baby boomers are finally coming to the market, but it’s still very much a seller's market. Inventory is low, and buyers will have to be aggressive with offers. Andy stressed how you can't be in the market for a "perfect" business right now because you will not find that. So get educated about the market so you're able to maximize your benefits.
For sellers, Andy says, “You’ll probably go to your CPA or lawyer first to discuss your options, and hopefully, they will convince you to talk to someone like us.” Since Transworld is in that marketplace day in and day out, they’ll be able to give you a good idea of what to expect as far as valuation when it comes time to sell your business. You and your colleagues may have an idea of what your business is worth, but that can be completely different from what it will sell for in this market. “Business valuation is an art, not a science.” There’s so much that a website calculator can’t figure out for you, and a business broker like Transworld can help facilitate the transaction and make sure you get the tools to be successful.
Listen Here for Andy’s Thoughts on the Future of the Market: https://bit.ly/3AJiZUI