Brian Judson, Senior Business Broker at Best Business Brokers (B3) and Dean Burnette, founder of Best Business Brokers (B3), were honored by the Georgia Association of Business Brokers (GABB) as among the 14 members of 2021 Million Dollar Club. The club members sold more than $86 million worth of small, medium and large businesses. Mr. Judson and Mr. Burnette were also honored as Life Members of the Million Dollar Club for achieving more than a million dollars in sales for three consecutive years or any five years.
In 2021, he served on the boards of Buy Local Savannah and TEDx Savannah. He holds a leadership position in Gulfstream’s Student Leadership program mentoring high school students and is a member of the Savannah Traffic Club, the CFO Council of Savannah, and the Savannah Estate Planning Council. His recent community involvement includes chairing the Savannah Historic Review Board, serving on an investment panel for United Way, and being a Master Docent at the Telfair Academy and the Jepson Center for the Arts.
Brian moved to Savannah in 2006 after more than thirty years in Santa Cruz, California. He and his wife, Liza, a Coordinator of Advising at Savannah College of Art and Design (SCAD), have three children, two rescue mutts, and more art than they can hang at any one time.
These experiences contribute to his abilities to help identify and qualify appropriate buyers, put together sales prospectuses, negotiate terms of a sale, and recognize the importance of confidentiality in these types of business transactions. He has been a member of the GABB Multi-Million Dollar Club many times.
Mr. Burnette, a past president of GABB, is excited about the many opportunities that the current economic conditions and recent economic events have created in Georgia. He is a sponsor of the Georgia Logistics Summit; a past president of the Savannah Small Business Chamber; and a member of the Savannah Traffic Club, Savannah Real Estate Commercial Alliance, GAR, and NAR.
Mr. Burnette also serves on the Education Advisory Committee for the Georgia Real Estate Commission and on the Board of Directors for Maritime Bethel Savannah. He is married and has two children and four terrific grandchildren.
The Georgia Association of Business Brokers (GABB) is the state’s only professional organization ded-icated to buying and selling businesses and franchises. GABB broker members have represented thou-sands of business sellers 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 Georgia Association of Business Brokers is dedicated to improving the professionalism of our mem-bers through education, through the Board Certified Broker program, and through our Code of Ethics,” explains GABB President Judy Mims. “Our members have the opportunity to network with others in this field and in supporting professions, which ensures smoother transactions.”
The GABB’s website 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, re-tail, security, signs, and businesses related to the internet.
Selling or buying a business? Best Business Brokers can help you. We are leaders in Georgia and South Carolina.
Happy New Year!
Best Business Brokers (B3) would like to express gratitude for the many good things that have come about this past year in spite of its challenges. We have experienced much joy in helping people sell their businesses as well as assisting people to realize their dreams of owning a business.
Since our brokerage firm was founded in 2009, B3 has grown consistently in listings, success, and excellence. This continued progress was only possible because of the support of our brokers, support team, clients, and customers. We are thankful.
Over the past year, we have made tremendous improvements in supporting our clients. We have added many new advertising platforms, such as the new Georgia Association of Business Brokers business for sale listing site, land.com, Georgia MLS, Savannah MLS, and more. B3 has also made substantial new investments in our website, marketing, technology to help our expanding team to better communicate and stay organized, allowing us to be more effective as a group as we lead our clients to success. The best just keeps getting better!
B3’s effectiveness at providing resources for our brokers has helped fuel a continued increase in listings and buyers. Much of the credit for this success goes to our team of brokers I’ve had the pleasure of working with these past years.
Special thanks go to our senior broker Brian Judson.
Brian’s success is motivation to all of us and his enthusiasm and tireless support to his clients and our firm has been invaluable.
Brian, Thank you.
I am also excited to introduce the newest addition to our team, Tatiana Yagecic, who will be focusing on our marketing efforts.
She brings insights from many different fields and can be reached at [email protected].
I’m honored to have played a leadership role at Best Business Brokers. I’ve never been associated with a finer group of professionals. For their help, support, and confidence I am grateful. I have no doubt that even better things are ahead for Best Business Brokers.
As usual B3 business brokers were presented GABB million-dollar club awards for 2019-2020.
We expect that business acquisitions and commercial real estate acquisitions will improve in late January and continue to increase throughout 2021. We look forward to helping many more people achieve their goals in the coming year!
We wish you a terrific 2021!
You shouldn’t expect to sell your company overnight. For every company that sells quickly, there are a hundred that take many months or even years to sell. Having the correct mindset and understanding of what you must do ahead of time to prepare for the sale of your company will help you avoid a range of headaches and dramatically increase your overall chances of success.
First, and arguably most importantly, you must have the right frame of mind. Flexibility is a key attribute for any business owner looking to sell his or her business. There are many variables involved in selling a business, and that means much can go wrong. An inflexible owner can even irritate prospective buyers and inadvertently sabotage what could have otherwise been a workable deal.
Be Flexible on Price
A key part of being flexible is to be ready and willing to accept a lower price. There are many reasons why business owners may fail to achieve the price they want for their business. These factors range from lack of management depth and lack of geographical distribution to an overreliance on a handful of customers or key clients. Of course, one way to address this problem is to work with a business broker or M&A advisor in advance, so that such price issues are minimized or eliminated altogether.
Be Prepared to Compromise
In the process of selling your business, you may want to achieve confidentiality and sell your business quickly and for the price you want. However, the fact is that most sellers find that it is possible to have confidentiality, speed, and the price you want, but not all three. Ultimately, you’ll have to pick two of the three variables that are most important to you.
A third way in which business owner flexibility can boost the chances of success is to embrace the virtue of patience. By accepting the fact that businesses can “sit on the shelf” for a considerable period of time, you are shifting your expectations. This realization can help reduce your stress level. The fact is that stressed out owners are far more likely to make mistakes.
Sometimes Losing is Really Winning
A fourth way in which business owners should be flexible is realizing that you and your lawyer will not win every single fight. There will be many points of contention, and a smart dealmaker realizes that it is often better to have a good deal than a perfect deal. You may have to make sacrifices in order to sell your company. Simply stated, you shouldn’t expect the other side to lose every point.
At the end of the day, a savvy business owner is one that never loses sight of the final goal. Your goal is to sell your business. Seeing the situation from the buyer’s perspective will help you make better decisions on how you present your business and interact with prospective buyers. Maintaining a flexible attitude with prospective buyers helps to position you as a reasonable person who wants to make a deal. Goodwill can go a long way when obstacles do arise.
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There is no doubt that the COVID-19 situation seems to change with each and every day. The disruption and chaos that the pandemic has injected into both daily life and business is obvious. Just as it is often difficult to keep track of the ebbs and flows of the pandemic, the same can be stated for keeping up to speed on the government’s response and what options exist to assist companies of all sizes.
In this article, we’ll turn our attention to an overlooked area of the government’s pandemic response and how businesses can use a whole new lending platform to navigate the choppy waters.
As the pandemic continues, you will want to be aware of the main street lending program, which is a whole new lending platform. It was designed for businesses that were financially sound prior to the pandemic. Authorized under the CARE Act, the main street lending program is quite attractive for an array of reasons. Let’s take a closer look at what makes this program almost too good to be true.
This lender delivered program is a commercial loan. Unlike the PPP, there is no forgivable component. However, the main street lending program does have one remarkable feature that will certainly grab the attention of all kinds of businesses. It can be used to refinance existing debt at a rate of around 3%. With that stated, it is also important to note that businesses cannot refinance existing debt with the current lender. Instead, a new lender must be found. Generally, loans are a minimum of a quarter million dollars and have a five-year term. In another piece of good news, there is a two-year payment deferment period.
The main street lending program can be used in a variety of ways. In short, the program is not simply for refinancing existing debt. Additionally, there is no penalty for prepayment. The way the program works is that lenders make the loans and then sell 95% of the loan value to the Fed. This of course means that the lender is only required to retain 5% of the loan on their balance sheet. The end result is that lenders can dramatically expand the amount of loans they can make.
Whether it is the PPP or a program like the main street lending program, there are solid options available to help you. Businesses looking to restructure debt or put an infusion of cash to good use may find that the main street lending program offers a very flexible loan with great interest rates.
The post The Main Street Lending Program appeared first on Deal Studio – Automate, accelerate and elevate your deal making.