William Bruce, the Business Broker who Knows How to Adapt
Imagine this: I’m William Bruce, a business broker with years of experience and a keen eye for discovering hidden opportunities. I’ve seen it all – the ups and downs, the twists and turns of the ever-changing business world. And let me tell you, it can be quite a roller coaster ride!
First of all, let’s talk about me. I’m no ordinary broker. I’ve got a knack for taking on challenges and finding creative solutions. I know that not every business is a smooth sail. Some are lumpy, while others are lean. But guess what? I can handle both!
When I say lumpy, I’m referring to businesses that have their fair share of difficulties. Maybe their financials are a bit messy, or their operations are not as streamlined as they should be. But fear not! I have a way of cutting through the clutter, sorting out the mess, and turning things around.
On the flip side, there are businesses that are lean and efficient. They have all the ingredients for success, but they might be lacking that extra push to take them to the next level. That’s where I come in. I can spot the hidden potential and devise strategies to optimize their growth.
You might be wondering how I do it. Well, it’s a combination of experience, knowledge, and a genuine passion for what I do. I’ve worked with countless businesses in various industries, and I’ve learned a thing or two along the way.
So, whether you’re a lumpy business in need of a turnaround or a lean business ready to reach new heights, I’m here to help. With my expertise and dedication, together we can make your business thrive.
Remember, I’m William Bruce, the business broker who knows how to adapt. Let’s take your business from lumpy to lean, and beyond!
Let me tell you a little bit about William Bruce and how he got started as a business broker. It all began 28 years ago when he sold his first business, a Hallmark Card and Gift Shop in Mobile, Alabama. And ever since that moment, he’s been hooked on helping people buy and sell businesses. Let me share more of his story with you.
So, how did William Bruce start his business?
Well, it’s quite simple. William studied business and economics at Auburn University. He’s always been fascinated by the world of business, you see. So, it just made a lot of sense for him to make a career out of selling businesses.
Now, what makes William’s business different from others?
Now, this may not sound very exciting, but what truly sets William apart is his vast experience. He’s been in this business for a long time, and that brings a whole lot of expertise and know-how to the table.
Have there been any tough moments where William’s business almost didn’t make it?
I’ve got a story to share with you. It’s about Bruce, a small business owner who went through a tough time during the Great Recession. But let me tell you, he’s not alone in his struggles. Many other business owners faced similar challenges.
The Great Recession hit the business brokerage profession hard. The International Business Brokers Association saw a significant drop in its paid membership, losing two thirds of its members. Even if you managed to find a buyer and seller for a business during that time (which was rare), getting the transaction financed was nearly impossible. I personally faced some tough years during that period, but I somehow managed to make it through.
Now, let’s talk about Bruce’s biggest win. This story is not only about his personal experience, but also about the importance of investing in people along with your business. Sometimes, those investments pay off in unexpected ways.
WHAT’S THE ONE THING YOU NEED TO WATCH OUT FOR?
When it comes to the business brokerage industry, the main risk isn’t anything major… unless you don’t make it through the tough times. As Bruce puts it, the revenue is unpredictable, so it’s essential to live within your means and avoid splurging on luxury items when you earn a big commission.
TELL ME SOMETHING INTERESTING ABOUT YOUR BUSINESS.
Bruce also has another fascinating story to share:
The most fascinating business listing I ever had was for a ‘Gentleman’s Club,’ which is another name for a strip club. It was a highly profitable venture! One of the potential buyers who came to check it out seemed like a Mafia guy, in my opinion. Our meeting was quite intriguing. Thankfully, he didn’t end up buying it, and I was greatly relieved when the business eventually sold and my involvement came to an end. The people interested in buying that kind of business were definitely not your typical country club members, if you catch my drift. Some of my fellow brokers, though, did some thorough investigation in that establishment, just to ensure it was indeed a good listing.