Ten Georgia Business Brokers Named to 2015 Million Dollar Club
Ten members of the Georgia Association of Business Brokers (GABB) were named to the 2015 Million Dollar Clubs for helping to broker the sale of small-, medium-sized and large businesses in 2015.
GABB members represent owners of Georgia businesses in extremely important 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 and skills needed to help maintain the confidential nature of the process. .
Matt Slappey
The top producer for 2015 was former GABB president Matt Slappey, the owner of the Decatur branch of Murphy Business & Financial Corporation.
“I take great pleasure in representing business owners in what is arguably the most important financial transaction in their life,” said Slappey. “I accept my assignments with a great sense of responsibility to the client and to their future. Buying and selling companies are complex transactions and my hope is that all business owners will seek qualified business brokers who are members of GABB to ensure they receive the representation they deserve.”
Business brokers in the top five with multi-million dollars in sales for the year were Steve Josovitz, vice president of The Shumacher Group; Jeffery Merry, owner and founder of the BUSINESS HOUSE, inc.; Jon Merry, a senior business broker with the BUSINESS HOUSE, inc.; and Kim Romaner, president of Transworld Business Advisors of Augusta, Ga. Other multi-million dollar sellers were Eric Gagnon, the president of We Sell Restaurants and wesellrestaurants.com; David Still, founder, designated business broker, and lead business appraiser of Capital Endeavors, Inc., and C. David Chambless, president of Abraxas Business Services, Inc. Rounding out the Million Dollar Club are Dean Burnette, Managing Broker for Best Business Brokers based in Savannah, and Paul Cushman, founder and managing partner of Cushman & Associates, LLC.
Chambless and Gagnon earned the prestigious GABB Phoenix Award for having earned the Million Dollar Club designation for ten 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 maintains a website that 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 Greg DeFoor, GABB’s 2015 President and 2016 President-Elect, selling a business is a complicated process with multiple steps and a lot of moving pieces.
“Our broker members are licensed business brokers, whereas everyone in the industry may not be properly licensed,” said DeFoor, who owns DeFoor CPA and Business Services. “GABB members benefit from continuing education, networking, promotion of professionalism and ethics in the industry, research tools, and forms prepared by a team of attorneys specifically for our association. “
“We are the go-to organization for business sales and acquisitions as a result of our dedication to the profession and our members being among the best in the state at what we do. Our members have represented probably over a thousand transactions, and we have a dedicated membership of business brokers, lenders, attorneys and other professionals to assist business buyers and sellers at every step of the process. We work behind the scenes and go mostly unnoticed, but we’re an integral part of Georgia’s business community.”
The Awardees:
GABB Lifetime Multi-Million Dollar Club Member and 2013 GABB President MATT SLAPPEY is the owner of the Decatur branch of Murphy Business & Financial Corporation. Mr. Slappey was awarded the #1 M&A Advisor for 2014, out of more than 200. Matt has a wide array of experience on transactions typically in the $1 million-$50 million range. Mr. Slappey, a native of Decatur/DeKalb County has earned the Mergers and Acquisitions Master Intermediary (M&AMI) and Certified Business Intermediary (CBI) designations, and he also completed the Kennesaw State University Coles College of Business “Certified M&A Professional” program in 2015. He holds degrees in accounting, economics and business from Presbyterian College and has twelve years of experience in management for a Fortune-100 healthcare company. A 7-year active duty veteran, Mr. Slappey was a pilot and military intelligence officer in the U.S. Army. He is an active member of Oak Grove United Methodist Church, the IBBA and M&A Source, and the Hall County Chamber of Commerce and enjoys spending time with his wife and three daughters, playing music, and enjoying the great outdoors.
Steve Josovitz
STEVEN JOSOVITZ is vice president of The Shumacher Group, where he heads the restaurant business brokerage division and provides 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 and appraisal services. He has been retained by law firms for his expert opinion to help settle disputes. Mr. Josovitz, a resident of Peachtree Corners, earned a Bachelor of Science in Hotel/Restaurant Management from Florida International University in 1981. Mr. Josovitz is a member of the Georgia Restaurant Association, International Council of Shopping Centers, and the Retail Brokers Network.
Jeffery E. Merry, Sr.
JEFFERY E. MERRY, SR., past president of the GABB, has been the GABB’s top producer numerous times, and has been a part of the Million Dollar Club since its inception in 1999. Mr. Merry, owner and founder of the BUSINESS HOUSE, inc. of Gainesville, is a member of the International Association of Business Brokers. For more than two decades, his firm has specialized in serving the manufacturing, distribution, veterinary and medical industries. As a business intermediary, Certified Exit Planner, and consultant, Mr. Merry has been involved in mergers and acquisitions that have ranged in acquisition price from $60,000 to more than $15 million. He is an adjunct instructor for the MBA program at North Georgia College. Mr. Merry holds a bachelor’s degree from Mercer University, a Master of Business Administration from the University of Illinois Edwardsville, and a Juris Doctorate from Atlanta Law School. Mr. Merry, a resident of Dahlonega, is a licensed real estate agent in Georgia and Florida, a senior business analyst, and a member of the Exit Planning Institute. He has three children and five grandchildren, and enjoys travelling, reading and riding his motorcycle.
Jon Merry
JON MERRY is a senior business broker with the BUSINESS HOUSE, inc. of Gainesville. Mr. Merry has 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. In 2012, 2013 and 2014, Mr. Merry received recognition as one of five brokers to join the Multi-Million Dollar Club for closed M&A transactions. In addition, Mr. Merry has been a Certified Machinery/Equipment Appraiser (CMEA) with the National Equipment Business Builders Institute (NEBB Institute) for more than 10 years, and became a Master CMEA this year, the only one in Georgia. A CMEA is intensively trained in the legal requirements involving the USPAP standards, as well as the methodological approach employed in establishing fair market value, orderly liquation value, and force liquation value in any market condition. Mr. Merry is owner of M&E Appraisals, Inc. of Dawsonville, Ga., and is a member of the International Business Broker Association (IBBA), the International Society of Business Analysts (ISBA), and the Georgia Lenders Quality Circle (GLQC). 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.
Kim Romaner
KIM ROMANER is the president of Transworld Business Advisors of Augusta, Ga. Ms. Romaner is an alumna of Barry University in Miami, and currently lives in North Augusta, S.C., with her husband and business partner, Michael. She serves on the advisory boards of the Salvation Army and the Greater Augusta chapter of the Technology Association of Georgia, is a founding member of theClubhou.se (cq), an innovation academy in Augusta, and serves as a mentor with Startup Augusta. Ms. Romaner has two children, ages 25 and 26, and is proud that her son Zack has just started his first business, and daughter Alexis is on her way to getting her real estate license.
Eric Gagnon
ERIC GAGNON is the President and founder of We Sell Restaurants and wesellrestaurants.com. He is a past President of the Georgia Association of Business Brokers and has been named to the GABB Million Dollar Club, has received the GABB Lifetime Million Dollar Club Award and this year, earned the prestigious GABB Phoenix award for a decade of reaching these milestones. Eric has been designated an industry expert by Business Brokerage Press and is a radio personality, frequent speaker and writer. Eric co-hosts a syndicated radio show for the restaurant industry and in 2012, launched his restaurant brokerage brand, We Sell Restaurants, into a national franchise. He co-authored Appetite for Acquisition, his book on buying restaurants that was named “Best of 2012” by Small Business Book Awards. In addition to GABB, Eric is a member of the International Business Brokers Association (IBBA) and has served as a speaker at its national meeting. He is also a member of the Business Brokers of Florida (BBF), the Southeast Franchise Forum (SEFF) and the International Franchise Association (IFA). Eric is licensed as a broker in Georgia, South Carolina and Florida. He holds degrees from major universities in the United States and Canada.
David Still
GABB Lifetime Multi-Million Dollar Club Member and former GABB President DAVID R. STILL is the founder, designated business broker, and lead business appraiser of Capital Endeavors, Inc., established in 1995 and located in Lawrenceville, Ga. He was recently elected without opposition to the Lawrenceville City Council. He earned a Bachelor of Business Administration from the University of Georgia. As a Certified Business Intermediary, he specializes in the mergers and acquisitions of privately held companies with gross sales between $1 million and $50 million. Mr. Still was a co-owner and publisher of the Gwinnett Post-Tribune newspaper. Mr. Still received the GABB Lifetime Achievement Award in 2002. Mr. Still is the Chairman of the Downtown Development Authority of the City of Lawrenceville and active in multiple non-profit organizations. He is married and has two grown children, one daughter-in-law and two grandchildren.
C. David Chambless
A lifetime member of the GABB Multi-Million Dollar Club and 2014 GABB President, C. DAVID CHAMBLESS is the president of Abraxas Business Services, Inc. This year, he earned the prestigious GABB Phoenix award for a decade of reaching the 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 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 board member of the Technology Association of Georgia, on the membership committee for the Atlanta chapter of Business Executives for National Security, and the Sporting Clays Tournament committee for the Atlanta Area Council of the Boy Scouts of America. Mr. Chambless is very involved in the All Saints’ Episcopal Church community. He was a fifteen-year board member of The Samaritan House 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 maintains his family‘s home in historic Grant Park while his wife and 14-year-old son spend several years in Guangzhou, China, where she leads an educational joint venture for Georgia State University.
Dean Burnette
DEAN BURNETTE is the Managing Broker for Best Business Brokers based in Savannah, Ga., serving the Coastal and South Georgia area. Mr. Burnette is a member of the Real Estate Commercial Alliance (RCA), a subsidiary of the Savannah Area Board of Realtors (SABOR). He served as the 2013-2014 President of the Savannah Small Business Chamber, and he is also a member of the Savannah Area Chamber of Commerce, Georgia Association of Realtors (GAR), International Business Brokers Association (IBBA), and sponsors the Georgia Logistics Summit. Dean has bought, sold, owned and operated businesses since 1986. Best Business Brokers specializes in Manufacturing, Technology and Logistics related business and real estate valued between $1- and $30 million.
Paul Cushman
PAUL CUSHMAN is the founder and managing partner of Cushman & Associates, LLC. He is also the CEO of CM Payroll & Business Services, founded in 2001; the founder and managing partner of Lawnscapes of Georgia, LLC, a landscaping firm; the qualifying broker for John Hunsinger Inc., a Commercial Real Estate firm, and is the General Manager of CM Properties, a property management firm. He is a disabled veteran of the U.S. Air Force. He holds a BSEE and Master of Science in Engineering Management from the University of Alabama in Huntsville, where he also played collegiate basketball and soccer. A former member of the GABB Board of Directors, Mr. Cushman, is also a member of the Commercial Board of Realtors, and he is a Certified Business Intermediary and a member of the IBBA. He is also a choir member at First Redeemer Church in Cumming, Ga.
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Top GABB Brokers in Oct. 27 Expert Panel
A panel of some of GABB’s most active and successful members highlighted the Oct. 27 GABB meeting. The panelists discussed issues that came up during or after due diligence that created a potential problem in getting the deal closed and how those issues were resolved. GABB President Greg DeFoor moderated the panel. Listen to a recording of the panel discussion here.
Panelists were:
Jeff Merry who has been GABB’s top producer in eight previous years, has been a part of the Million Dollar Club since its inception in 1999, and was honored with the GABB’s Phoenix Award denoting an individual who has earned Million Dollar Club status for 10 years. Jeff, owner and founder of the BUSINESS HOUSE, inc. of Gainesville, is a member of the International Association of Business Brokers. For more than two decades, his firm has specialized in serving the manufacturing, distribution, veterinary and medical industries. As a Business Intermediary, Certified Exit Planner and Consultant, Mr. Merry has been involved in more than 300 mergers and acquisitions that have ranged in acquisition price from $60,000 to more than $15 million. He has been an adjunct instructor for the MBA program at North Georgia College. Mr. Merry holds a Bachelor’s Degree from Mercer University, a Masters of Business Administration from the University of Illinois Edwardsville, and a Juris Doctorate from Atlanta Law School.
Kathryne Pusch, 
President of ConsultKAP, is a seasoned professional consultant and broker. She began her career consulting for a large international consulting firm in 1979. Since then, she has worked successfully within the framework of large corporations, and small enterprise, across a broad range of industries, private and public sector. Ms. Pusch has owned and managed two small businesses herself, in addition to her successful business enhancement, transitions, and brokerage practice. Her consulting work focuses primarily on preparing businesses for a successful sale, and exit and transition planning for owners. ConsultKAP intermediary services focus on helping individuals and companies who want to sell or acquire a business to do so with the greatest likelihood of success, as defined by the achievement of their unique objectives. Kathryne is the 2003 past President of GABB. She has a BS in Marketing and Marketing Research and an MBA. She serves on the Executive Advisory Network of the DBM International Center for Executive Options, is a published author, and a licensed Georgia real estate instructor.
Yasmine Jandali, 
owner and Managing Broker at Starwood Business Group, is the secretary of the Georgia Association of Business Brokers. Ms. Jandali founded Starwood Business Group in order to provide a boutique brokerage firm for clients seeking personalized service and specialized attention. As a certified Master Business Intermediary, she provides professional business intermediary services to both business sellers and buyers, including high-level business valuation services to business sellers. She has worked as a foreign exchange analyst at Wells Fargo, a marketing specialist at the Bank of America Corporation, vice president of Jandali Enterprises, Inc., and was managing broker and managing director of VR Business Brokers Mergers and Acquisitions. She has a B.A. in Business Administration Marketing from the McColl School of Business at Queens University of Charlotte, and also studied management at The Belk College of Business at University of North Carolina at Charlotte.
Eric Gagnon, 
former GABB president, became a Business Broker in 2001 after a successful career in the financial services industry for Bank of America, Bank of New York and KPMG. He founded We Sell Restaurants in the Atlanta marketplace. Mr. Gagnon is also a multi-year recipient of the GABB Million-Dollar Club recognition. Mr. Gagnon is a graduate of Francis Marion University and the University of Montreal. A frequent speaker and writer about the restaurant brokerage industry, he is co-author of the recently released book on restaurant brokerage, “Appetite for Acquisition.” Mr. Gagnon has been designated a Business Industry Expert by Business Brokerage Press and is a member of the International Business Brokers Association. He is a member of the Business Brokers of Florida (BBF), and is the preferred broker for Georgia Restaurant Consulting Group. Eric is a licensed Broker in both Georgia and Florida.
The meeting was held at 10:30 a.m. at the South Terraces Conference Center. The South Terraces Conference Center is at 115 Perimeter Center Place, Atlanta. Contact Diane Loupe at 404-374-3990 or diane@gabb.org for more information, or visit the GABB webpage.
Read MoreGeorgia Real Estate Commissioner Spoke About Licensing to GABB
Georgia Real Estate Commissioner William L. Rogers, Jr. talked about licensing and new training requirements at the Georgia Association of Business Brokers’s meeting on Sept. 29.
Roger serves as the Executive Officer for the Georgia Real Estate Commission and the Georgia Real Estate Appraisers Board where he oversees the day-to-day operations of the state agency responsible for implementing the license law regulating Georgia’s more than 82,000 real estate brokers and salespersons and the law regulating Georgia’s 4,700 real estate appraisers.
Under Georgia law, a business brokers must have a real estate license to buy and sell any businesses in the state that involve the transfer of the lease or ownership of real property. Under state law, neither business brokers nor their associates may “negotiate or attempt to negotiate or assist in procuring prospects for the sale of a business” where the sale “involves the transfer of any interest in real property, or 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.” (See the applicable law below)
Rogers told GABB that his office answers questions about licensing and investigates complaints. Recent laws also require his agency to ensure that everyone who holds a state real estate license is either a citizen or legally present in the U.S.
The commission offers coursework online and in person, and also occasionally pursues judgments against licensees, and maintains a recovery fund. Rogers said only one payment has been paid out of recovery fund in recent years, about $7,000. Georgia law was amended law in 2012 to make it easier for non-licensees to recover payments.
Most of the commission’s investigations involve trust funds and earnest money. Rogers said the commission backed law changed that enable licensees to do certain activities that are not considered illegal practice of law. For example, licensees may provide advice to clients about listing management, leasing optioning and any other conveyance of real estate without that advice being considered the practice of law. Rogers says this allows agents to fill in certain forms that had been prepared by an attorney. However, Georgia law does not give brokers the authority to give a legal opinion or to the authority to close a transaction.
Effective July 24, licensees, other than certain grandfathered license holders, must complete 36 hours of Commission-approved continuing education during each four-year renewal period, of which three hours must be on specific license law. The commission has approved 63 license courses. “Hopefully, this will be helpful to stop the violations and protect the public.”
Even at the rate of nine continuing education hours per year, Georgia is still below the national average of 9.3 hours per year. However, Rogers said real estate licensees should have training commensurate with other professionals.
Rogers urged licensees to take courses that are educational, and not to wait until the last minutes to take coursework. He also discussed new rules that make it easier for licensees to work as support persons for brokers in other towns.
The commission has been flooded with cases in which brokers representing buyers have presented offers directly to the seller. However, the listing broker needs to examine the offer first before showing the offer to the seller, Rogers said.
GABB member Kathryne Pusch provided this citation of the specific language related to business brokers in Georgia 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.
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.
Negotiating Commissions is Bad Business for Business Brokers
Negotiating commissions is not in the best interest of business broker’s clients, a leading business broker told the GABB Board.
Andy Cagnetta
In August, the board met for a strategic planning session with Andy Cagnetta, owner/CEO of Transworld Business Brokers, LLC., of Ft. Lauderdale, Florida. Andy is also past chairman of the International Business Brokers Association, and a current chairman of the Business Brokers of Florida.
To illustrate his opposition to negotiating commissions, Andy told a personal story. Andy sold a business to a friend, and within 3-4 months, the friend was upside down in the business. Andy decided to discount his minimum commission by $3,000.
While the listing was active, a Florida broker called Andy and told him he had a buyer for the business. But when the other broker heard the amount of the commission, he said, “I’m not showing it to the buyer.” Instead, he showed the buyer a similar business in his office.
“My guy crashed and burned. He never got his money back, and got sued by landlord,” Andy recalled. “I didn’t help my seller.” He explained that the commission is part of the process to motivate brokers in the marketplace to bring deals to the table.
So now, Andy says at every listing appointment, he tells clients we’re not going to negotiate the commission. If they start scratching their heads, he tells them the story and says he’d be doing them a disservice.
“You’ve got to believe that motivating the marketplace is the right thing for you,” said Andy.
Read MoreGeorgia Real Estate leader to speak to GABB on Sept. 29
William L. Rogers, Jr., Executive Officer for the Georgia Real Estate Commission and the Georgia Real Estate Appraisers Board.
The head of Georgia’s Real Estate Commission will speak to the GABB member’s meeting on September 29 before the group’s a strategic planning meeting to discuss and plan the future of the organization, to fortify GABB and the profession of business brokering.
The GABB meeting will be held at 10:30 a.m. at the South Terraces Conference Center, preceded by coffee and a light breakfast/networking session with fellow members before the meeting. The South Terraces Conference Center is at 115 Perimeter Center Place, Atlanta. Because of the nature of our discussions, this meeting is for members only and will not be open to the public.
Georgia Real Estate Commissioner William L. Rogers, Jr. serves as the Executive Officer for the Georgia Real Estate Commission and the Georgia Real Estate Appraisers Board. He oversees the day-to-day operations of the state agency responsible for implementing the license law regulating Georgia’s more than 82,000 real estate brokers and salespersons and the law regulating Georgia’s 4,700 real estate appraisers. All Georgia business brokers must have a real estate license to do business in the state.
A native of Gainesville, Rogers earned a Bachelor’s degree in History at Emory University and a J.D. degree from the University of Georgia School of Law. After a brief stint as a 2nd Lieutenant in the U.S. Army Signal Corps, Rogers was admitted to the State Bar of Georgia in 1971. Prior to joining the Real Estate Commission, he was a partner at Whelchel, Dunlap, Jarrard & Walker, LLP in Gainesville practicing real estate and banking law.
Rogers is a past President of the United Way of Hall County, past President of the Gainesville Northeast Georgia Bar Association as well as past President of the Kiwanis Club of Gainesville. He serves on the Board of Directors at Chattahoochee Bank of Georgia. He and and his wife, Mary, have been married more than 43 years and have three adult children and six grandchildren. He is a lifelong member of the First United Methodist Church of Gainesville.
GABB Member Meeting Agenda
Following the commissioner’s talk, GABB Board members will solicit input to help guide GABB’s primary objectives and adopt courses of actions to achieve these objectives. Committees or areas to move forward include:
- Co-brokerage
- Professional Rules / Accountability
- Education
- Membership
- Media
We need everyone to pull together to work on this. Please attend the Sept. 29 meeting to express your opinion, or email your opinion to the board at board@gabb.org.
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