Buying or Selling a Business in Lake County Florida

Thirty years ago, Lake County’s primary business was agriculture. Citrus groves, nurseries and vegetable farms covered miles of acreage filling the landscape. Today, Lake County’s economy has tilted to small businesses serving the needs of its residents. Attracted by the warm weather, hilly terrain, abundant lakes and a relative low cost of living, this beautiful area of Florida has always been a major haven for retirees. Restaurants, Retail Shops, Home Builders and Service Businesses all flourish in this environment. The ground swell of baby-boomer retirees has just begun to affect the Lake County Economy, making this area one of the fastest growing population areas in Florida. Lake County’s population grew by 41% in the last decade, according to the 2010 census data, which was double the average growth of the surrounding counties of Orange, Seminole, Volusia and Marion counties. This population growth coupled with the greater spending power of the baby-boomer generation, has created an outstanding opportunity for anyone wishing to buy or sell a small business.

Entrepreneurship can be a risky business. One way to reduce your risk is to buy an existing business that's already demonstrated an ability to successfully operate at a profit. Buying an established and profitable business comes at a price, as you will generally spend far more to buy a business than to start one from scratch. Coldwell Banker Camelot can assist you in this process and provide you with the proper tools and resources for your success.
 

Pricing a business correctly is paramount to a successful sale or purchase. There are several methods used to value a business, but no one method is applicable to all businesses. A blended method may yield the best results. For example, you can base the price on the value of the business's assets, and add in a sum for the goodwill the business has developed. Or you can see how much comparable businesses in your industry and locale have recently sold for. Another method uses an industry formula (for example, a value based on the number of units sold annually or a multiple of average earnings).

If you are buying a business here in Lake County, there are many outstanding resources available for new or existing entrepreneurs here in Lake County. The Lake & Sumter County Business Resources Center is a one stop source for business information, providing help with training seminars, marketing help, business loan information, financial and legal help and connections to other resources for your business needs. Another great resource is the Lake County Economic Development New Business Center. Here you will find a wealth of information about Federal, State and County Incentive Programs, Business Assistance, Demographics, Business Occupational Licensing and much more information that will be very helpful to you when starting or purchasing an existing business. Currently, you will find that our Lake County Government, as well as many of the 14 municipalities, is very focused on attracting small business with a very pro-active, business friendly environment.

It is important to work with an agent that understands small business and has access to the resources necessary to properly locate or market a business. Coldwell Banker Camelot Realty has been helping small business entrepreneurs buy and sell businesses for over 10 years. Our experience and customer first attitude has helped us to become and remain one of Lake County’s most successful Brokers.

If you are considering buying or selling a business in Lake County Florida, please contact us. We are knowledgeable, listen to our clients carefully and are ready to help you in this most important endeavor.