MARKET INSIGHTS | CURRENT EVENTS

Selling My Business During the COVID-19 Pandemic

PUBLISHED June 2nd, 2020 BY ALAN STEIN 

 

The COVID-19 pandemic has significantly altered the global economic environment in 2020. Not only is future economic stability still uncertain, but many individual businesses may also be in the early stages of a liquidity crises. Any speculation about an economic recovery is hypothetical since the development of a “cure-all” vaccine is unlikely, and there is the possibility that the Covid-19 virus may evolve, replicate, or mutate, which would essentially limit a vaccine’s effectiveness. The fear of a renewed spike in infection rates has restricted the ability of many states to encourage business owners to re-open without the imposition of specific guidelines (i.e. facial masks, permissible outdoor services, including pick-up and delivery, in lieu of walk-in services in their enclosed facility).

That being said, Merger and Acquisition firms, Business Advisors, and Consultants are all looking for new ways to engage buyers and sellers seeking a sale, acquisition, or funding due to the urgent demand for exit strategies and the immediate need for new funding. This heightened demand for services is happening simultaneously with the restrictions on direct personal contact, with many employees, and third-party service providers (accountants and other administrative personnel) working from home. Additionally, the new “work from home” format may interfere with the ability to obtain critical information expeditiously.

FBA (First Boca Associates), however, has the unique advantage of being able to match buyers and sellers in both good and bad times. As many motivated, active investors are currently working diligently to find attractive investments, FBA can leverage its deep industry expertise and personal relationships to employ content-focused campaigns to a targeted, selective audience in order to achieve client objectives.

Business owners who have already decided on an exit strategy and are looking for advisors to help them with any of the following, should schedule an introductory call with FBA:

  • Maximize transaction value
  • Find a targeted acquisition opportunity
  • Identify an appropriate lender for funding

Simply complete the FBA contact form on our website here, and we will contact you to learn about your company and objectives with a free introductory call.

 

 

ABOUT THE AUTHOR: 
ALAN STEIN IS PRESIDENT OF FIRST BOCA ASSOCIATES, INC.. HE HAS OVER 40 YEARS OF EXPERIENCE AS A BUSINESS OWNER AND BUSINESS MANAGER. ALAN HAS REPRESENTED COMPANIES IN A BROAD RANGE OF INDUSTRIES, HELPING OWNERS THAT ARE SEEKING FUNDING, STRUCTURING AN ACQUISITION AND/OR PLANNING THEIR EXIT STRATEGY.
ALAN IS A GRADUATE OF THE UNIVERSITY OF MIAMI, FL AND EARNED HIS BBA AND MBA DEGREES IN FINANCE. HE HAS BEEN A BUSINESS OWNER, A LICENSED LIFE, HEALTH, PROPERTY AND CASUALTY AGENT, A CERTIFIED INSURANCE COUNSELOR, A PARKLAND, FL CITY COMMISSIONER, AND CURRENTLY HOLDS A GA REAL ESTATE BROKERS LICENSE. 
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