In this episode of Small Biz Florida, we sit down with Terri Sherman, a business intermediary and key player at the Florida Business Exchange. Terri's journey into the world of business brokering is an intriguing tale of serendipity that opens up a whole new world of possibilities for entrepreneurs.
Terri discusses the immense potential of acquiring existing businesses as a path to entrepreneurship. With lower risk and the opportunity to inherit employees, inventory, assets, and leases, this approach is like "flipping cash flow." She highlights how this model reduces risk and provides a shortcut to business ownership.
Discover the valuable role that business brokers play in connecting buyers and sellers, ensuring confidentiality throughout the process. Terri emphasizes that, much like real estate agents for homes, business brokers help entrepreneurs find the right match for their aspirations.
Terri also sheds light on the financing options available, including SBA financing and seller financing, making business acquisition a viable option. She encourages potential buyers to explore existing cash-flowing businesses in sectors they're passionate about.
Listen in to learn how you can leverage Terri's expertise and the Florida Business Exchange to kickstart your entrepreneurial journey and take advantage of the opportunities in the business acquisition landscape. Recorded live at this year’s Florida SBDC Network Small Business Success Summit hosted at The Westin Fort Lauderdale Beach Resort.
Learn more about Florida Business Exchange: https://fbxbrokers.com/
Work with Terri: https://www.mindyourbusinesstoday.com/
Ep. 260 | Leveraging Technology for Rural Economic Growth with GIS Web Tech and Row Bertasi
Ep. 259 | Empowering Rural Economic Development - Key Insights from the FREDA Summit with Terry Burroughs, Okeechobee County Commissioner
Ep. 258 | Growing Rural Businesses - Kaylee King & Alex Tijerina of the OEDC Unleash New Initiatives
Ep. 257 | Fueling Your Business: Unlocking Resources with Duke Energy's Economic Development Programs
Ep. 256 | Public-Private Powerhouse: Growing Rural Businesses Through Partnership with Justin Ford, from Dewberry Engineers, and Antonio Jefferson, Gretna's City Manager.
Ep. 255 | Molding Tomorrow: 3D Printing Revolution with Ken Brace
Ep. 254 | Shaping Tomorrow: Lake Ray's Insight into Florida's Manufacturing Landscape
Ep. 253 | Winds of Change: Robert Linder and the Future of Manufacturing in Florida
Ep. 252 | Crafting Success: Pavel Kuviarzin Unlocks the Manufacturing Code
Ep. 251 | Manufacturing Maverick: Alex Vasquez Unleashes the Power of Possibility
Ep. 250 | Guardians of Cyber Space: Fortifying Small Businesses with Horacio Maysonet
Ep. 249 | Navigating Florida's Economic Horizon: A Conversation with Mark Wilson from the 2023 Future of Florida Forum
Ep. 248 | Innovating Healthcare: Eddie Gonzalez Loumiet, CEO of Ruvos, Redefines HealthTech
Ep. 247 | Empowering Lives: Goodwill's Impact on Florida's Workforce with Executive Director Keyna Cory
Ep. 246 | Empowering Families: Better Together's Impact on Florida's Workforce with Executive Director Jeff Bell
Ep. 245 | Empowering Florida's Future: A Conversation with Madeleine Thakur, President and CEO of the Children's Movement of Florida
Ep. 244 | Transforming Florida's Manufacturing: Insights from Suzy Teele, Chief Strategy Officer at the ARM Institute
Ep. 243 | Charting Florida's Business Frontier: Insights from Jamal Sowell at the 2023 Future of Florida Forum
Ep. 242 | Data for Good: Sheri Cheney Jones Unveils SureImpact's Social Impact Revolution
Ep. 241 | Empowering Futures: Lorri Benjamin Redefines Education at Brevard Public Schools
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