How Not to Fail as a Business Broker
By Lou Vescio, CBI, M&AMI, Managing Partner, Coastal Business Intermediaries & Agency Brokerage Consultants
2017 Chairman of the IBBA, Fellow of the IBBA, Fellow of The M&A Source
Having been part of the Business Broker or Business Advisor Profession for about 16 years, I have seen many new Brokers come and go! I have also seen many grow their practice into very lucrative and profitable enterprises. Why do some Brokers succeed and prosper, while others give up in six months to two years? Having participating in several professions in the past fifty years, from flying jets in the Air Force, to a 15 year career with a Fortune 500 company, to building a couple computer training businesses and selling them, and finally becoming a Business Broker, I believe I have identified a few traits that make the great Brokers great and why some Brokers fail.
Perseverance – If you have ever read anything about Navy Seals, they never give up! The Basic Underwater Demolition/SEAL (BUD/S) school includes some of the most difficult training that exists, and most participants drop out due to the physical and mental stress. Perseverance is the key to their success.
This is not to say that becoming a great Business Broker comes close to becoming a Navy Seal, but all successful Business Brokers that I know exhibit the “failure is not an option” mentality. The Business Brokers workday is not a “9 to 5” type of day; it’s an “I will do whatever work I need to do, whenever I need to do it” type of day!
Education – Great Business Brokers are always learning more about their profession. Education obviously includes taking IBBA and M&A Source courses and workshops attending professional conferences sponsored by associations like the GABB, but it also includes reading everything available that is pertinent to the profession. Great Business Brokers also network with other great Brokers across the country and even across the world. Every business is different, every deal is different, and sharing and networking with other professionals offers new and fresh ideas and concepts.
Learn to say “No” – One of the Brokers I admire is Jim Afinowich, Managing Partner with IBG Fox & Fin in Scottsdale, AZ. Many years ago, he taught a workshop on saying “no” to bad listings. New Brokers tend to take almost any listing just so they have something to sell, but statistics tell us that 75% to 90% of businesses listed by Business Brokers do not sell! On the other hand, great Brokers sell 80% to 95% of their listings. Learning to price businesses properly (that Education thing above), properly analyzing good businesses when writing a great CIM (again that education thing), and walking away from unreasonable sellers by “just saying no” (in a nice way of course) are a few keys to success.
Marketing – While we all like to receive great referrals, most Brokers would go out of business if they did not market their services. Without going into the details of what kind of marketing a Broker should undertake, the key is marketing costs money and it is a requirement to succeed. The IBBA offers courses, workshops and webinars on every type of marketing, and the costs can vary from hundreds of dollars to tens of thousands of dollars. Fifty years ago, Tom West, author of The Complete Guide to Business Brokerage, suggested mailing a hundred letters a week and calling that same hundred business owners a week later. That is probably the bare minimum and may still be one of the most effective tools. Marketing is one of those “just do it” activities, and do as much as you can afford!
Salesmanship – While many people may disagree with me, we are saleswomen and salesmen. If we do not sell, we don’t make money! Some Brokers like to refer to themselves as advisors, consultants, or intermediaries, but in the end, we are still salespeople! More precisely, we engage in consultative selling, meaning we focus on creating value and trust with the prospect and exploring their needs before offering a solution. Our first objective is building a relationship, and then we provide the right solution to the problem. There are many courses and books on how to sell everything under the sun, but one of the best sales books a Broker can read is How to Win Friends and Influence People by Dale Carnegie (1936). It is more about getting people to like you, and that is the first step in selling. You can download and read it here for free.
Find a Mentor – Having a mentor when starting out as a Business Broker is a big plus, and joining a professional association like the GABB can help with this. Having an experienced and trusted adviser who will assist in training can shorten the timeline from “Start” to “Success!” It is also advisable to work in a successful brokerage when starting out to avoid many costly and time-consuming mistakes. Whether it be a franchised brokerage or an independent brokerage, find a mentor that meets the following criteria: 1) knows how to make a lot of money selling good businesses, 2) promotes IBBA education and certification, 3) assists in valuing and critiquing potential listings and 4) assists in negotiating difficult transactions.
Become an IBBA Contributor – One of the best ways to enhance your IBBA experience is to actively participate in the annual conferences, courses and workshops and share your experiences with others. Join a committee or two and be active. The friends you make and the experiences you share with others will enhance your Business Brokerage experience. (Note, the GABB also offers conferences, committees and monthly meetings.)
Finally, to all you Great Business Brokers out there, make friends with a new member at the next IBBA Conference and offer yourself as a mentor. You will find it very rewarding!
Reprinted with the permission of the International Business Brokers Association.
The Theory and Practice of Business Brokerage within the Context of Real Estate License Law & Rules
By Kathryne A. Pusch, President & Consultant, ConsultKAP, Inc.
Potential clients and prospective business brokers often ask GABB “What are the legal licensing requirements of professionals assisting buyers and sellers of businesses in Georgia?”
I think I can answer this question because I was a business broker for many years, am a former Board Member and President of GABB, RE Instructor, and was a past member of the Georgia Real Estate Commission’s (GREC) Education Advisory Board.
Here’s what the law says:
GA Law 520-1-.12 Business Brokerage.
Unless otherwise excepted from licensure requirements by O.C.G.A. Section 43-40-29, a person who brokers the sale of a business must hold an appropriate license issued by the Commission if the sale of the business involves the transfer of any interest (including, but not limited to, leasehold or ownership interest) in real property. A business broker and any of the business broker’s associates who do not hold licenses issued by the Commission may not negotiate or attempt to negotiate or assist in procuring prospects for the sale of a business where:
(a) that sale involves the transfer of any interest in real property,or
(b) where the payment of all or part of a commission or fee to the business broker or any of the business broker’s associates in the sale of a business is contingent upon the transfer of an interest in real estate.
An unlicensed broker may not perform or attempt to perform the acts in the preceding sentence and then secure a person licensed by the Commission to approve that transaction.
Under Georgia law, anyone selling or buying, offering to buy or sell, acquiring prospects to buy or sell or negotiating for the buying or selling of real estate for compensation must be licensed by the GREC. According to section 520.1-.19 of Georgia law, Business Brokers are covered by the same legal requirements as any Real Estate licensee if the sale includes the transfer of any interest in real estate.
While some interpret that to mean you don’t need a real estate license if you are selling a business and not any property (as in dirt or brick & mortar,) in fact, there are few instances in which this is the case.
Active businesses operate out of and occupy premises that are either owned or rented/leased, with the exception of a home-based business. Any business Purchase & Sale contract will contain a contingency that the RE interest (freehold or leasehold) must transfer from the seller to the buyer. (If it does not, the business will not have premises in which to operate after the sale.)
Any third party lenders of the funds to complete the transaction will also require a lease or RE purchase agreement to approve the loan for the business acquisition, which will be a contingency of the sale.
Therefore, anyone who is advertising a non-home-based business for sale listing is offering for sale a business that includes either a leasehold or freehold interest in real estate, whether or not the listing summary/web site ad has a box checked for “Real Estate.” In fact, unlicensed people who sell businesses will NOT check “Real Estate,” despite the fact that there is a business facility owned or leased, because they are NOT LICENSED.
Anyone who is negotiating with sellers and buyers for the purchase and sale of a non- home-based business for sale is involved as a broker in a transaction that includes either a leasehold or freehold interest in real estate. Therefore, that person must have a current Georgia real estate license under Georgia law.
The terms of the real estate purchase or the rent or lease terms (occupancy costs) are always a key factor in business expenses and profits, and therefore a key factor in the investment decision, so it is not possible to negotiate for the purchase and sale of a business without including the real estate factors.
The occupancy of a going concern cannot be separated from the operation of the going concern or from the profits of the going concern on which value of that going concern are based. Business brokers who are unlicensed are operating in violation of Georgia license law, regardless of how they “spin” their advertising.
Business brokers cannot assert that they are not violating license law by claiming that they have an attorney or a licensed broker to “handle” the real estate aspects of a “transaction” because of the above facts related to the inseparability of occupancy from the business going concern which is being offered for sale. The exceptions would be home-based business; non-operating businesses: sale of assets or inventory only from a closed business; or new franchises – sales by a franchisor to a franchisee of a not yet operating unit.
The GABB encourages you to let us know if you come across individuals who are operating as business brokers without the proper licenses. Contact any individual member of the board, or email the entire board at gabbboard@gabb.org.
Questions? Email: KAP@Consultkap.com
Main Office: 770-918-9390 Cell: 770-309-8580
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GA Law 520-1-.12 Business Brokerage.
see also O.C.G.A. §§43-40-1; 43-40-2; 43-40-29; and 43-40-30.
Authority O.C.G.A. Secs. 43-40-2, 43-40-14. History. Original Rule entitled “Examinations” adopted as ER. 520-1-0.1-.12. F. and eff. July 12, 1973, the date of adoption. Amended: Permanent Rule entitled “Licensee’s Duties Upon Surrender, Suspension, or Revocation of License” adopted. F. Dec. 7, 1973; eff. Dec. 27, 1973. Repealed: New Rule of same title adopted. F. June 4, 1980; eff.July 1, 1980, as specified by the Agency. Amended: Authority changed. F. Aug.5, 1982; eff. Nov. 1, 1982, as specified by the Agency. Amended: F. May 9, 1985; eff. July 1, 1985, as specified by the Agency. Repealed: New Rule entitled “Business Brokerage” adopted. F. Nov. 12, 2003; eff. Dec. 2, 2003.
Read MoreEthics and Managing Your Brokerage: GABB Fall Conference, Oct. 29, 2019
Learn the skills you need to be a better business broker at the Oct. 29, 2019 Fall Conference of the Georgia Association of Business Brokers.
The morning program, which is intended exclusively for Georgia Business Brokers who are real estate licensees, is focused on various ethics topics specific to the business brokerage profession, such as maintaining confidentiality, working with tax returns, loan applications, handling financial statements, client loyalty, using forms created by the Georgia Association of Business Brokers, and other topics.
During the afternoon program, attendees will learn about common issues in the management of a business brokering practice, including handling escrow accounts, setting commissions, co-brokering, keeping records, branding and marketing, maintaining a database for marketing and tracking clients, and other issues.
Brokers will earn a total of six continuing education credits courses certified by the Georgia Real Estate Commission. The class will be held at the Georgia Association of Realtors Conference center at 6065 Barfield Rd, Sandy Springs from 9 a.m. until 4 p.m. Lunch will be provided by Leigh Milton and Claudia Wilson of Center State Bank, and breakfast will be provided by Eva Farag of Oconee State Bank.
Registration for the conference will be $150, but GABB members can register for $99 if they register by Oct. 10. If you want to just take half a day of classes, that’s $85. Scroll to the bottom of the page to register.
GABB Code of Ethics and Ethical Concerns
Morning Session 9:00-12:00, 3 Continuing Education hours
Learning Objective: Attendees, all of whom are licensed real estate agents, will become familiar with the GABB code of ethics and how to handle various ethical concerns related to financial statements and other representations by clients.
Instructors:
Susan Kite, Senior Vice President, Government Guaranteed Lending at Georgia Primary Bank
Susan J. Kite has more than 30 years of experience in commercial and SBA lending. She began her career in Jacksonville, Florida, as Director of an SBA 504 lender, moving to Atlanta with Bank South in 1990. Susan has worked with several Atlanta banks including Crescent Bank, Brand Bank, and Renasant Bank before moving to Georgia Primary. She is skilled at SBA 7a Term loans, SBA 504 loans and SBA Express credit lines. She specializes in business acquisition lending. Susan has served as Chairman of the Board of Directors of the Georgia Lender’s Quality Circle, a professional organization of SBA lenders in the Southeast. She also sits on the loan committee of Capital Partners Certified Development Company. Kite earned a bachelor’s in Business Administration from Terry College of Business at the University of Georgia.
Lawrence Domenico, Managing Partner Mozley, Finlayson & Loggins LLP
Mr. Domenico joined Mozley, Finlayson & Loggins in 1990 and practices in the areas of estate planning and probate, commercial and business litigation, and general litigation. Mr. Domenico also has extensive experience as a business lawyer in assisting start-up and existing businesses. In addition, Mr. Domenico has broad experience in alternate forms of dispute resolution including arbitration and mediation. Mr. Domenico was born in St. Paul, Minnesota, on April 29, 1963. Mr. Domenico received a B.A., cum laude, from the University of the South in 1985. He attended the University of Georgia School of Law where he received a J.D., cum laude, in 1988. Mr. Domenico is a member of Phi Beta Kappa and Omicron Delta Kappa honorary fraternities. He belongs to the Atlanta and American Bar Associations, the State Bar of Georgia, and the Defense Research Institute. Mr. Domenico is active in a number of civic organizations and is a member of the 1995 class of Leadership DeKalb and the Rotary Club of Dunwoody.
David Chambless, Business Broker, former President of the GABB Board, member of GABB’s Million Dollar Club., president of Abraxas Business Services. He has extensive experience in business development; finance; operations; sales; marketing; and international channel development and management. He has a Master of Business Administration in Finance degree from the Wharton School of the University of Pennsylvania and a Bachelor of Industrial and Systems Engineering degree from Georgia Tech. In 1982, he became a Certified Public Accountant.
Brokerage Management
1:00-4:00 p.m., 3 continuing education hours
Instructors:
Dean Burnette, Business Broker, President of the GABB Board, past member of GABB’s Multi-Million Dollar Club, Managing Broker of Best Business Brokers of Savannah. Mr. Burnette is a member of the Savannah Area Realtors – Real Estate Commercial Alliance (RCA), The Georgia Association of Realtors, and the National Association of Realtors. He is a member of the Savannah Area Chamber of Commerce, the Savannah CFO Council, Savannah Traffic Club, is a member and was the 2013-2014 President of the Savannah Small Business Chamber.
Jeff Merry, Business Broker, former President of the GABB Board, current GABB board member, platinum member of GABB’s Multi- Million Dollar Club, and founder and president of the BUSINESS HOUSE, inc.SM. As a Business Intermediary, Jeffery has been involved in more than 200 mergers and acquisitions that have ranged in acquisition price from $60,000.00 to more than $15,000,000.00. Jeffery specializes in serving the manufacturing, distribution, veterinary, service, and medical industries. Jeffery holds a Bachelor’s Degree from Mercer University, a Masters of Business Administration from the University of Illinois, and a Juris Doctorate from Atlanta Law School. Jeffery is also a licensed real estate broker in Georgia and Florida. Further, he is an Adjunct Professor of strategic management, accounting, and finance in MBA programs.
Mike Ramatowski, Business Broker, current member and Past President of the GABB Board, member of GABB’s Million Dollar Club. CBI, owner of RamBizGroup LLC, works with business owners, sellers and candidates for merger by acquisition from manufacturing, distribution, and service businesses. He has owned and managed businesses that included a real estate master franchise, a property management networking company, and a service business. As COO of a banking conglomerate he managed brokerage operations, title companies, home and service warranty programs, and a relocation company. Mr. Ramatowski has served on the board of directors of 12 different organizations with diverse specialties including real estate brokerage, mortgage companies, title insurance, banking, health care, fitness center operations, and office supply operations, providing marketing and organizational growth expertise. He served as an Electronic Specialist in the U.S. Navy Submarine Service. He attended Cleveland State University and Baldwin Wallace College. He has earned the Certified Business Intermediary professional designation by the International Business Brokers Association.
Jon Roman, Business Broker, Treasurer of the GABB Board, member of GABB’s Multi-Million Dollar Club, and owner of Transworld Business Advisors of Atlanta Perimeter, an award-winning group of ten agents, a Franchise Director, an office manager and a marketing sales specialist. For nearly 18 years, prior to Transworld, Jon had helped entrepreneurs to obtain funding when acquiring, selling or franchising businesses. He established, acquired, operated and sold his own businesses for over 20 years. Mr. Roman is a former commercial banker with experience in a multitude of deals. Throughout his career, Jon financed mergers and acquisitions, business expansions, construction and development projects. He evaluated businesses, built and consolidated financial records and shared opinions regarding business plans, and/or exit strategies. Jon is a multi-million-dollar member of the Georgia Association of Business Brokers (GABB) and is currently serving as a treasurer for GABB. Among other qualifications, Jon is a CCIM (Certified Commercial Investment Member) since 2005.
This class has been organized by the Georgia Association of Business Brokers and the GREC certification is through the Capitus Real Estate Learning Center.
Read More
Thirteen Georgia Business Brokers Achieve GABB 2018 Million Dollar Club
Thirteen members of the Georgia Association of Business Brokers (GABB) were named to the 2018 Million Dollar Club for helping broker the sale of more than $71 million worth of small, medium and large businesses.
GABB members represent owners of Georgia businesses in important and complicated transactions: the sale of their business. GABB members help owners determine the asking price of their business, create marketing plans and strategies for selling their business, identify and qualify buyers, and have the knowledge, experience and skills needed to help maintain the confidential nature of the process.
The top producer for 2018 was C. David Chambless, president of Abraxas Business Services, Inc.
“It is an honor to be recognized by the GABB, Georgia’s professional association for business brokers,” said Mr. Chambless. “The GABB is a leader in helping small business owners sell their businesses, and I am proud to be a member.”
Business brokers who were among the top five with multi-million dollars in business sales for the year are Matt Wochele, founder of Preferred Business Brokers.; J. Snypp, Vice President of Preferred Business Brokers, Inc.; Steve Josovitz, Vice President of The Shumacher Group; and Greg DeFoor, founder and President of DeFoor Business Services
Business brokers with multi-million dollars in sales included Robin Gagnon, co-founder of We Sell Restaurants and wesellrestaurants.com; Jon Merry, a senior business broker with THE BUSINESS HOUSE; Tim Greene, Business Broker and Consultant for DeFoor Business Services; Lisa Young, Business Broker at Transworld Business Advisors; Jon Roman, business intermediary, franchise consultant and developer at Transworld Business Advisors; and Jay Fenello, Business Broker and Intermediary with BizPlacements.com.
Other Million Dollar Club members are Richard S. Burgess, president and founder of Priority Business Acquisitions, Inc.; and Eric Gagnon, the president of We Sell Restaurants and wesellrestaurants.com.
Mr. Josovitz earned the GABB’s Phoenix Award for being a member of the Million Dollar Club for more than ten years. Mr. Roman was named a life member of the GABB Million Dollar Club for achieving more than a million dollars in sales for three consecutive years.
The Georgia Association of Business Brokers (GABB) is the state’s only professional organization dedicated to buying and selling businesses and franchises. The GABB’s website t lists hundreds of businesses and franchises for sale throughout Georgia in a variety of fields, including automotive, business services, child care, cleaning, construction, electronics equipment, fitness, flooring, floral, food, gas stations, landscaping, manufacturing, medical, shipping, restaurants, retail, security, signs, and businesses related to the internet.
According to GABB’s President Mike Ramatowski, selling a business is a complex process that business brokers help owners and sellers navigate.
“Buying or selling a business using a professional business broker is one of the best economic decisions a business owner will ever make,” said Ramatowski, who is president of Georgia Business Associates, Inc. “This was a great year for doing transactions, and no matter what the market does, owners and buyers will always get their best deal using a professional who is experienced in these transactions.
GABB broker members have represented thousands of business owners and buyers, and the group has a dedicated membership of lenders, attorneys and other professionals to assist business buyers and sellers at every step of the process.
The Awardees:
DAVID CHAMBLESS is the president of Abraxas Business Services, Inc. which provides integrated services to sellers (and buyers) of businesses with revenues of $5- to $30-million, with a focus on businesses in the manufacturing, distribution, healthcare, technology, and services industries. A former GABB President, Mr. Chambless has earned the prestigious GABB Phoenix award for a decade of reaching the Multi-Million Dollar Club. Prior to Abraxas, he held various positions in sales, marketing, and executive roles in technology firms; as CFO for Aaron Rents as well as for private companies; and as a management consultant. Mr. Chambless has a Master of Business Administration in Finance from the Wharton School of the University of Pennsylvania and a Bachelor of Industrial and Systems Engineering degree from Georgia Tech. He is a certified public accountant (inactive). He is a longtime member of the International Business Brokers Association (IBBA). Active in community work, he has served as a member of the Technology Association of Georgia board of directors and its executive committee and as the chairman of its Leadership Council, TAG-Finance and TAG-FinTech. Mr. Chambless has chaired the membership committee for the Atlanta chapter of Business Executives for National Security; is on the board of the Callanwolde Fine Arts Center; and on the Sporting Clays Tournament committee for the Atlanta Area Council of the Boy Scouts of America. He has been on the boards of the Grant Park Conservancy and the Southeast Atlanta Business Association, and is very involved in the All Saints’ Episcopal Church community. He served for 15 years on the board of The Samaritan House of Atlanta. He has served on the board of directors for the Resource Opportunity Center of Atlanta and is on the Advisory Council of 24/7 Gateway, a homeless-services center under the auspices of the United Way of Atlanta. Mr. Chambless, along with his last at-home son, maintains his family’s home in historic Grant Park while his wife works in Beijing, China, where she is a principal with Three W International.
Matt Wochele CBI (Certified Business Intermediary) founded Preferred Business Brokers, Inc., in 1996 after a successful 17-year career in the investment banking industry. He is a life member of the Georgia Association of Business Brokers Million Dollar Club, Phoenix Award recipient and a member of the International Business Brokers Association. As president and managing broker of Preferred he has had the opportunity to be personally involved in hundreds of private business sales. The combined personal experience in the public sector with the private business sales has positioned the company to handle both the smaller main street business deals and the larger middle market business acquisitions. Mr. Wochele volunteers with the Atlanta Mission and is a member of the Atlanta Rowing Club. On a personal note Matt and his wife Kathy, a professional artist, have been married thirty five years, live in Sandy Springs, and have five daughters, one granddaughter and one grandson.
J. SNYPP III, a former GABB Board member and a life member of the Million Dollar Club, lives in Dunwoody, grew up in Atlanta and graduated from Georgia Southern University with a degree in marketing. Mr. Snypp spent more than two decades in the office furniture business before becoming a Business Broker and has been with Preferred Business Brokers, Inc. for more than 10 years. He has found success selling businesses in a variety of industries most recently selling multiple day care centers. He is president of the Dunwoody North Driving Club, a member of the Dunwoody High School Gridiron Club and chairman of the Wildcat Classic Golf Tournament which benefits the Dunwoody High football team. He is married and has two boys aged 14 and 19. Therefore, when he is not selling businesses he is usually coaching a football or baseball team, camping, canoeing, water skiing, scuba diving, shooting sports or involved in some other family activity.
STEVEN JOSOVITZ is vice president of The Shumacher Group, having joined the firm in 1992. As an Associate Real Estate Broker, he heads up the company’s restaurant business brokerage division in addition to providing commercial retail and restaurant real estate site selection, sales and lease negotiation expertise. A former restaurant owner and trained professional chef, Steven has an extensive background in restaurant and hotel management. He also offers consulting, appraisal services and has been retained by law firms for his expert opinion to help settle disputes. Mr. Josovitz earned a B.S. in Hotel/Restaurant Management from Florida International University in 1981 and has studied in Europe. Mr. Josovitz is a member of the Georgia Restaurant Association, Georgia Association of Business Brokers (GABB), International Council of Shopping Centers and the Retail Brokers Network. As a 26-year GABB member, Mr. Josovitz was awarded Life Member and The Phoenix Award and annually receives the Multi-Million Dollar Club Award and Top Five Award for business and restaurant brokerage sales in Georgia. Steven’s goals and thoughts are always “Make sure all parties – Buyers, Sellers and Landlords walk away from the closing table happy. Maintaining integrity and honesty along with professionalism and expertise is a must. The needs of your clients and those you work with must always come first before commission or personal gain.”
GREG DeFOOR is a business broker, a CPA and a Certified Fraud Examiner. He became a business broker in 2002 after working in public accounting followed by private industry experience as an accounting and financial executive in the healthcare and retail automotive industries. While in private industry, he was involved in a number of business transactions and decided to use that knowledge and experience to start his own firm. He has a unique blend of audit, tax, accounting, corporate finance, business advisory and transaction experience to use for the benefit of his clients. He has an active Georgia real estate broker’s license. His firm specializes in the sale of small and middle-market privately owned businesses in a number of industrial classifications. Mr. DeFoor has an accounting degree from Auburn University and lives in Powder Springs.
ROBIN GAGNON is the Co-Founder of We Sell Restaurants and the firm’s Chief Marketing Officer. One of the most prolific restaurant brokers in the industry and a franchise resale specialist, she holds the Certified Business Intermediary (CBI) designation from the International Business Brokers Association or IBBA and is an MBA. She is a writer and speaker who has addressed many groups nationwide She co-authored Appetite for Acquisition, the industry’s leading book on buying restaurants that received the prestigious “Best of ” award by Small Business Book Awards. Robin is a member of the International Franchise Association and serves on the Women’s Franchise Committee at the national level. She is also the Chair of the Women’s Franchise Network – Atlanta Chapter. Robin holds an undergraduate degree and an MBA where she graduated first in her class and was named “Outstanding MBA.” Robin is an emeritus member of the ASU Business Advisory Council. She is also a founding member of the ASU Entrepreneurship Board. Robin is a licensed real estate salesperson in both Georgia and Florida and member of the Georgia Association of Business Brokers (GABB), the International Business Brokers Association (IBBA) and the Business Brokers of Florida (BBF). Robin, along with her husband Eric teach the nation’s only Certified Restaurant Broker curriculum training and testing agents in the practice of restaurant brokerage.
JON MERRY is a senior business broker with THE BUSINESS HOUSE of Gainesville. Mr. Merry has been in the Business Mergers and Acquisition Industry for more than 10 years. Jon specializes in serving the Manufacturing, Distribution, Service, Medical, and Health Care Industries. He a keen understanding for the buying and selling process, and is well versed in the industry handling a wide range of deal making activities for the firm and has assisted with numerous M&A transactions. Since 2012, Mr. Merry has been recognized as one of the GABB’s top five brokers for closed M&A transactions and is a former GABB board member. In addition, Mr. Merry has been a Certified Machinery/Equipment Appraiser (CMEA) with the National Equipment Business Builders Institute (NEBB Institute) since 2000, and became a Master CMEA in 2014. As a CMEA, he is intensively trained in the legal requirements involving USPAP standards, as well as the methodology approach employed in establishing fair market value, orderly liquation value, and forced liquation value in any market condition. Mr. Merry is a member of the International Business Broker Association (IBBA) and the International Society of Business Analysts (ISBA). A native of Georgia, Mr. Merry was a professional umpire for Minor League Baseball for 11 years. He and his wife, RaeLynda, and their two sons, Jacob and Joseph, live in historic Dahlonega, Ga.
TIM GREENE is a Business Broker and Consultant for DeFoor Business Services and specializes in the evaluation, marketing, sale and acquisition of businesses in a variety of classifications. His technical expertise, analytical background, and experience owning businesses enable him to provide professional services to buyers and sellers of many types of businesses. His areas of expertise include businesses engaged in document shredding/management, carpet/flooring, construction and engineering. Tim has provided consulting advice on over 30 document management related business transactions over the past 5 years for his clients and is well known in the industry. He is very active as a Business Broker and has transactional experience with a variety of business types including asphalt paving, concrete construction, landscaping, HVAC, carpet and flooring and hardware stores. As a licensed Business Broker and Consultant and through proven web sites and connections, he has global access to buyers and sellers. Mr. Greene has a Bachelor’s Degree in Civil Engineering from Ohio Northern University in 1979. He began his employment with Marathon Oil Company in Findlay, Ohio. After a number of promotions and transfers he settled in Atlanta, Georgia. Following his entrepreneurial drive he purchased part ownership in an industrial company providing services to the oil, paper and power industries. That company was a fast growing organization that grew primarily through acquisition of existing operating companies.In 1999, Tim purchased a concrete services business and grew sales volumes, later adding a significant volume of asphalt paving. He sold that profitable business in 2007 and is now utilizing his knowledge and expertise to assist sellers and buyers of businesses. Mr. Greene lives in the West Cobb area of Acworth, with his wife, Sharon. His two children attended Harrison High School and are now adults.
LISA YOUNG is a business broker with Transworld Business Advisors of Atlanta, working in the Dunwoody office. Ms. Young graduated from Georgia Military Prep School and Georgia College and State University in Milledgeville where she received a Bachelors in Business Administration with a major in Information Systems. She has worked in the real estate industry since 2000 as well as owning a couple of small businesses before joining Transworld. She enjoys gardening, swimming, boating, golf and volunteer work with organizations such as Second Harvest Food Bank, Habitat for Humanity and Lake Oconee Church. She has two grown sons, one grandson and she splits time between Marietta and Lake Oconee.
JON ROMAN is a business intermediary, franchise consultant and developer at Transworld Business Advisors and a member of the GABB board. After 18 years of various business ownerships, including startups, established or franchised ventures and a full-time career as a commercial banker, he founded the local Transworld Business Advisors office in
Atlanta. His experience includes mergers and acquisition of privately owned companies with revenues of up to $30 million. His team includes buyer and seller agents, franchise consultants and business evaluation specialists. Mr. Roman is a Certified Commercial Investment Member (CCIM), a member of the Association of Corporate Growth (ACG), of the International Business Brokers Association (IBBA), and the National Association of Realtors (NAR). Transworld Business Advisors has more than 400 brokers and more than 150 offices worldwide.
ERIC GAGNON is the President and founder of We Sell Restaurants and wesellrestaurants.com, ranked by Entrepreneur Magazine as the nation’s fifth largest business brokerage franchise and the largest focused on the restaurant industry. An expert in restaurant sales and valuation, he is a frequent speaker, writer and radio personality for the industry. Mr. Gagnon is the co-author of Appetite for Acquisition, an award winning book on buying restaurants. He is past President of the Georgia Association of Business Brokers, has been named to the GABB Million Dollar Club many times, has received the GABB Lifetime Million Dollar Club Award and received the prestigious GABB Phoenix award for a decade of reaching those milestones. Business Brokerage Press first designated Mr. Gagnon as an Industry Expert over a decade ago. In addition to GABB, Eric is a member of the International Business Brokers Association (IBBA), the International Franchise Association (IFA), and the Southeast Franchise Forum (SEFF) where he serves on the Board of Directors. He is also a member of the Business Brokers of Florida (BBF). Mr. Gagnon is licensed as a broker in Georgia, South Carolina and Florida.
RICHARD S. BURGESS is owner and founder of Priority Business Acquisitions, Inc. (PBA) which uses a Christ-centered, straightforward, successful approach to its Mergers and Acquisitions services. Mr. Burgess is also the treasurer of the GABB. He has more than 20 years of successful M & A and real estate experience, is a licensed real estate broker in the state of Georgia, and can handle the sale, acquisition and financing of privately held companies and real estate. Mr. Burgess understands that choosing the right intermediary to help you accomplish your goals can be a difficult and anxious experience. His goal is to make the process as smooth and rewarding as possible through clear communication and attention to clients’ objectives. He is a resident of Lawrenceville, GA, attends Christ The Lord Lutheran church, and also owns Priority Real Estate Services, LLC to handle exclusive real estate deals.
JAY FENELLO is the founder of BizPlacements.com, a Business Brokerage website dedicated to helping people buy and sell small businesses and franchises, especially owner-operated companies. Jay started his career as a computer engineer for IBM in Boca Raton, Fla., where he worked on a new product called the IBM PC. Soon after, he returned to school where he earned an MBA in Entrepreneurship from the McGuire Center for Entrepreneurship at the University of Arizona, one of the top programs in the nation. He first started in business brokerage in 1995, and has since worked for several firms, including one of the largest M&A firms in the country. Jay is a member of the Atlanta Commercial Board of Realtors and the Georgia Association of Business Brokers, where he has been repeatedly recognized as one of the top brokers in the state. He resides in Woodstock.
Read MoreAdvertising rules for Business Brokers
Monica Gilroy, esq., a founding principal of The Gilroy Firm, spoke to the Georgia Associations of Business Brokers on Oct. 30 about rules governing advertising businesses for sale and real estate.
Ms. Gilroy is the firm’s managing partner and has more than 25 years of experience practicing law. She is an active partner in the Litigation Department as the focus of her national litigation practice includes all aspects of real estate litigation.
Linked here is her presentaton. Advertising For Business Brokers – October 30 2018
Ms. Gilroy remains an active partner in the Litigation Department as the focus of her national litigation practice includes all aspects of real estate litigation, including property management issues, fair housing, foreclosure and title disputes, broker and agent liability defense, mortgage fraud-related litigation and civil and commercial contract disputes. She also leads the Default Department providing national foreclosure, bankruptcy, and loss mitigation and eviction services. During her career, Ms. Gilroy has served as the litigation liaison for leading lending institutions as well as managed their national bankruptcy litigation program. She continues to serve as counsel for many national and local banks, mortgage companies and real estate industry lenders and leaders. She regularly assists closing attorneys, real estate agents, property managers, title companies and brokers when title or other contract issues arise. She practiced for several years in the areas of estate and trust litigation and serves regularly as a Special Master in Fulton County. Ms. Gilroy has extensive lead counsel trial experience and frequently appears in all of the state and federal courts of Georgia, including the state and federal appellate courts. She is also a member in good standing with the United States Supreme Court.
Ms. Gilroy has conducted hundreds of jury trials, bench trials, arbitrations and mediations and regularly argues dispositive motions of all kinds.
Ms. Gilroy is the immediate past Chair of the Real Property Law Section (“RPLS”) of the State Bar of Georgia, which is the largest section of the state bar. She previously served as the Editor of the RPLS Newsletter. A long-standing member of the State Bar of Georgia, she was appointed by the last five Presidents of the State Bar to serve on the Programs Committee.
In addition to the numerous articles, papers and publications over her career, she is a contributing writer to Foreclosure Law and Related Remedies: a State-by-State Digest which is published by the American Bar Association. She recently was published by Thompson Reuters in the book, Inside the Minds: Mortgage and Finance Fraud Litigation Strategies, 2015 ed.
In 2014, Ms. Gilroy also was selected to serve on the American Land Title Association (ALTA) National Education Committee, one of only a dozen members who write the curriculum for ALTA members. Recently, she was honored to draft an Amicus Brief on behalf of ALTA for a case pending in the Georgia Supreme Court.
Ms. Gilroy enjoys membership with the Lawyers Club of Atlanta, the Georgia Women’s Lawyers Association, Georgia Mortgage Bankers Association, the Atlanta Board of Realtors and the Atlanta Volunteer Lawyers Foundation. She speaks and teaches on a regular basis at the state and national level to attorneys, real estate professionals, property managers, and real estate brokers and agents on litigation and real estate related topics. Ms. Gilroy holds an AV-peer review rating with Martindale Hubbell. She is a peer nominated Georgia Super Lawyer for three years running in the practice area of real estate.
Ms. Gilroy is a longtime volunteer for the Girl Scouts of Greater Atlanta, serving as a group leader and teen mentor, as well as a volunteer coordinator for the Fulton County Public School System. She is also an active volunteer educator in her church in Johns Creek, Georgia.
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