Nick has owned and operated several retail, service, and distribution companies in his lifetime. He is the current owner of Business Brokers Inc and Atlanta Business Advisors. Mr. Modares worked for Sunbelt Business Brokers in Atlanta as a business broker for a few years prior to establishing Business Brokers, Inc. Along the way Nick has accumulated enormous education along with practical experience and insight into what it takes to start-up, own operate, finance, merge, sell, and acquire privately held companies ranging in size from very small to multi-national, million dollar operations. Consequently, he found the transition into business brokerage to be a natural one. As a business intermediary and consultant, Nick has been involved in sales, service, mergers and acquisitions ranging in price from fifty thousand dollars to over fifteen million dollars since 1988. After receiving his Masters Degree in Engineering Management (MBA of Engineering) and continued education courses from the University of Evansville, Indiana and Purdue University towards his PhD, Nick pursued an engineering and project management career working for and with multinational companies like Bechtel, Daniel International, and Ahlstrom Kamyer Incorporated. Nick gained experience in engineering, construction, labor relations, project management, contract negotiations, operations, sales and marketing with exposure to food processing, manufacturing and power/energy production from CFB Cogen to coal, gas and nuclear power plants. His community involvement includes serving as treasurer of Atlanta Sister Cities Commission under Atlanta City Hall Charter (visit www.atlantaga.gov and then select “international”). Nick is also Chairman, since 1995, of Atlanta-Bucharest Sister Cities Committee, a non-profit organization (www.sister-cities.org). Nick has been the membership committee chair for Georgia Association of Business Brokers (GABB). He has been actively involved in civic community duties within his neighborhood in Roswell as a treasurer, volunteer, coach, fundraiser, and charity work activist. In 2006 Nick adopted Jones Road in Roswell, GA, to get his kids involved in volunteer work. To give back to the community they will clean and remove trash, debris from both sides of that road for a year. Nick presently serves on the Board of Directors of several companies providing marketing and organizational growth expertise. He is a licensed broker in Georgia and Florida, as well as a member of the GABB and the International Business Brokers Association.
What area do you specialize in as a business broker?
I have SOLD in every area including retail, manufacturing, distribution & service sector. From $50,000 to $5,000,000. I don’t specialize in one area.
What led you to business brokering?
I have a Ph.D. in business management and couple of engineering degrees. I love education. After 20 years as a project manager building industrial power plants, I wanted to spend more time with my kids & family, so I transitioned to retail business to avoid out of town trips and to have a flexible schedule to spend more time with my kids and yet make a living. So, I opened my first retail store selling child related goods in 1994. I grew it to 7 locations in 5 years. Again, to spend more time with the family, I contacted a business broker to sell them one by one. I was not happy with the performance of my broker who would never pick up the phone, etc. After closing on the first one, I thought to myself, I can do this & do it much better. So, in year 2000 I got my real estate license & soon after, I got my broker’s license in Georgia and Florida. As they say “the rest is history.”
What have you accomplished this year as a GABB Board member?
Take minutes of each board meeting & report on all communications involving voting or important board decisions. Keep contact with various statewide associations & invite them to speak in GABB General Meetings. Developed a better relationship with IBBA by attending the monthly IBBA affiliate council meetings.
How has the GABB helped you improve as a professional business broker?
A sense of belonging, camaraderie, networking, educational classes and other benefits have helped me professionally.
What advice would you give to people who are trying to build a business brokering practice?
Get your BCB certification through GABB. Education will lead you to knowledge. Honesty, transparency, courtesy, will build your good reputation. Networking and helping others to get what they want will reward you and will help you to get what you want. So, put others before yourself. Treat others as you would want to be treated. Follow through your promises. Put systems in place, and have the discipline to follow them. Tweak your success formula as needed. Work harder and smarter than your pierce.
What habits do you have that you think make you successful?
Persistence and determination. I make a habit of never quitting until I get results. Positive attitude, positive solution and outcome. Personal care, eat right, exercise, keep a balanced life. Help others and do community service. Organization, Planning and setting priorities and goals. Frugality through avoiding waste which automatically results in efficiency. Ethics and empathy. I try to treat others the way I would want to be treated.
What else would you like to tell us?
I am blessed with three grown children. I serve as the chairman of Atlanta-Bucharest sister city committee. We build people to people relationships worldwide