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. 273 | How the SBA is Revolutionizing Disaster Recovery & Supporting Small Businesses with Allen Thomas and Francisco Sánchez Jr.
Ep.272 | Exploring the National Entrepreneur Center: How NEC Supports Over 25,000 Entrepreneurs in Florida
Ep. 271 | Deep Dive into Leveraging the SBA the Right Way: Tools & Programs Every Small Business Should Know
Ep. 270 | Secrets to Small Biz Success with Profit Mastery CEO Colin King
Ep. 269 | Building a More Inclusive Workforce: Allison Chase on the Able Trust's Mission for Floridians with Disabilities
Ep. 268 | BluDot: Transforming Economic Development with Technology - Featuring Jake Biggs & Matthew Moloney
Ep. 267 | Beat the Silver Tsunami: Employee Ownership with Roy Messing & John Burgess
Ep. 266 | Building Florida's Future: A Conversation with Florida Makes' Ruth Buchanan
Ep. 265 | Glue Up Your Business: Tech-Powered Efficiency with David Zelaya
Ep. 264 | Level Up at the Summit: Unveiling the Secrets of Small Business Success with Bridget Lacoste
Ep. 263 | Digging Up Success: Environmental Solutions with SCS Engineers' Britney Odom
Ep. 262 | Sunshine State's Career Goldmine: Unveiling Opportunities with Adrienne Johnston
Ep. 261 | Bridging the Digital Divide: How Comcast Connects Rural Florida with Michelle Oyola McGovern, Vice President of Government and Regulatory Affairs at Comcast
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
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