Are you in the Florida area, and looking for a company to help you buy/sell a business? If so, we know that it can be tough to find exactly what you’re looking for. All the companies that you may have seen up to now come with a catch, or something hidden that they don’t want you to find out about until it’s too late at the last second. Instead of this, you want someone with professional credentials, a structured process, and a commitment to value for everyone involved.
While it may have seemed impossible to find up until now, we’ve found Bridge Point Business Brokers, and we’re going to be taking a deeper dive into what they can offer you, whether what they advertise is what they deliver, and more. So, if you’re looking for the best, this is a good place to start to get the information that you need.
Who Are Bridge Point Business Brokers?
Bridge Point Business Brokers define themselves as your trusted partner through business brokerage. With the goal of providing expert advice and assistance to both buyers and sellers, they have managed to establish a strong reputation for themselves in the business brokerage market.
They initially started out as a small firm in Florida, but have since managed to grow to a point where they are now one of the most credentialed, experienced business brokers experts in the US, which is no easy feat! With a team of eleven professional individuals to help, Bridge Point Business Brokers have done everything in their power to create the perfect team, so that no matter your needs, they can cater to them.
What Services Do They Offer?
The services offered by this company are two-fold, as they cater for both business buyers, and business sellers. As such, it’s important to look at both sides of the coin.
For Sellers
For those selling a business, Bridge Point Business Brokers have a comprehensive list of services available, ensuring that you get the most from your business sale. For example, they offer comprehensive valuation and pricing, using multiple methods to come up with the best possible price. In conjunction with that, they prepare and recast financial statements, with the goal of maximizing the presented value of the company.
You might be worried about the marketing used, but there’s no need. This company uses a blind marketing strategy in order to protect the identity of the business, using non-disclosure agreements to ensure confidentiality.
On the final leg, they provide negotiation and closing support, assisting with managing offers, negotiating terms, and coordinating the due diligence of the sale.
For Buyers
For those who are looking to purchase a business, Bridge Point Business Brokers will custom search for businesses that match the criteria provided by the buyer, ensuring the best possible match. With access to more listings than the general public, this company is able to find the ideal match for a buyer based on previously held conversations.
Due diligence is a lot, and this company helps you tackle it as a buyer. They offer you guidance through financial review, legal compliance, and an in-depth investigation of the business being looked at for purchase.
Getting finance can be tough, which is why Bridge Point steps in to help buyers secure the right financing, as well as providing guidance on other information surrounding loans and lenders.
What Did We Like About Bridge Point Brokers?
Maximum Value
We mentioned in the services that Bridge Point Business Brokers aim to get maximum value for their clients using a range of different methods. Their financial recasting, and their strategy ensures that they secure the best possible price for their clients. Whether you’re buying or selling, you can count on getting the best value when you choose this company.
Strictly Confidential
With an extremely strict emphasis on confidentiality, you can be sure that your business is safe under the care of Bridge Point Business Brokers. With the use of NDA’s right from the word go, the reputation and the employees of businesses are protected from start to finish.
Strong Framework
The company works within a tried and tested framework that they have managed to carefully curate over the years. Their seven step process is clear, it’s easy to navigate, and it provides results, which is why it’s continued to be used over the years.
The steps are:
- Consultation
- Valuation
- Preparation
- Marketing
- Negotiation
- Closing
Years Of Experience
With over 20 years of experience in the business brokerage industry, you can trust that they know what they are doing. With a carefully selected group of professionals driving the business forward, each with their own experience and qualifications, you can guarantee that you’re always going to be dealing with someone who understands the market, and knows what they are doing. Their expertise is definitely a huge bonus.
What Did We Dislike About Bridge Point Brokers?
Expensive – High Commission And High Fees
It’s definitely not cheap to work with this company, as even though they advertise their prices as ‘competitive’, they still work on a commission rate, and this will be based off of the sale price. Typically this is between 10-15%, but this is still hugely expensive. As such, maximizing sale price is a must, otherwise you won’t get the best possible value.
Long Sales Processes
While their average sale time is 6-12 months, this is still a lengthy time for business owners to wait. It’s true to say that this is the average in the industry, and is no longer than you would be looking at with other companies, but that doesn’t mean that it’s ideal.
Concluding Thoughts
So, at the end of the day, what it all comes down to is whether or not we think that this is a business worth using, and is it? We would say so. We would recommend Bridge Point Business Brokers to anyone looking to buy or sell a business in the local Florida area.
The commitment to confidentiality and a simple process leaves everyone feeling at ease, and ensures that you get the best possible experience when you choose this company. All in all, we think that they are a fantastic choice, and should definitely be a contender for those looking for this service.
