Let’s face it, selling a family owned business can be both logistically and emotionally difficult. If you don’t have your team, books, or valuation prepared, your sale can grind to a halt. Likewise, if you’re not mentally prepared to let go of your business, no offer will seem fair. One of the first things you should ask yourself is what you hope to get out of selling your business. Do you want to ensure continuity for your employees? Is your goal to retire? Or are you hoping to fund a new venture?
On average, the lifespan of a family owned business is 24 years. Research indicates that only about 40% of family owned businesses transition into a second generation. And, of those, only about 13% are passed to a third generation. Because of this, it’s crucial to have a backup plan in case succession doesn’t work out.
If you’re planning to transition your business into a second – or third – generation, you should also have a secondary plan. If succession falls through, you don’t want to be stuck selling your business at the last minute. When you sell without a plan, your selling price is at the mercy of the market. You want time to find the right buyer, the right offer, and the right future for both you and your business.
When you work with an experienced business broker to sell your business, you’re positioning yourself for success. A broker can alleviate a lot of burdens by locating buyers, handling paperwork, and providing financing options. With their help, you won’t find yourself wasting time on unqualified – or financially questionable – offers.
Leveraging the expertise of a broker when selling a family owned business reduces stress and increases your chances of realizing a higher price. By assigning an accurate value to your business, a broker is better able to market it to potential buyers. Best of all, you can continue to operate your business while the logistics of the sale are managed in the background.
At Advanced Business Brokers, we know that selling a family business can be challenging. Many owners have worked their whole lives to build their businesses. And, while letting go can be difficult, it can also bring a flood of relief. So, if you’re interested in positioning yourself, your family, and your business for a bright future, reach out to us today to learn how we can help.
If you’re thinking about selling your business and don’t know where to start, consider speaking with our team here at Advanced Business Brokers. We specialize in brokering and advising exit plan strategies for various sizes/sectors of businesses.
Selling your Ohio business is a big decision, but business brokers in Toledo can help you to navigate the entire process. Having expert business brokers
Listing a business for sale in Fort Wayne can be as easy as anywhere else when you have a business broker on your side. Selling
With the world of online sales always growing and changing, you may be wondering: “How Do I Sell my Ecommerce Business?” Selling an online business
Throughout the course of owning a business, every owner will typically think: how much can I sell my business for? When you make the decision
When you’re ready to sell your roofing company, it can take careful planning to get the best price. But, planning can pose a challenge when
Selling a service business isn’t like offloading a storefront with shelves of inventory. You’re passing on the systems, relationships, and reputation that drive your revenue.
With over 25 years of dedicated experience, Bob empowers small business owners in the Indianapolis metro area to achieve their entrepreneurial visions, whether by building scalable operations or crafting highly sellable entities. For three decades, he’s cultivated a robust network of owners, buyers, and strategic partners, a resource he fully leverages to help clients meet their unique objectives.
Bob’s expertise spans a diverse range of industries, including trade-based businesses like construction, HVAC, skilled trades, and manufacturing, as well as white-collar professional service firms such as law, finance, marketing, and technical services. Beyond his client work, Bob actively contributes to his community, serving as Treasurer for the Boone County Chamber Board and as well as a board member for both the Central Indiana Police Foundation (CIPF) and Fiscal Sponsorship Allies (FSA).
Bob holds a degree in Mechanical Engineering Technology from Purdue University in West Lafayette, Indiana, and teaches there as well in the Certificate in Entrepreneurship and Innovation Program, which is ranked among the Top 50 programs in the U.S.
He lives with his wife Lori in Zionsville, just outside Indianapolis, and in his free time, he enjoys working on his home, playing golf, and traveling.
With a degree in psychology and a professional background in social work, Marissa
brings a people-centered lens to every project. Her experience includes being a Project
Planning Specialist at GE Aerospace, creating efficient processes and structures that
help teams work smarter and stay aligned. Marissa joins the Main Street Market Maker
team with Advanced Business Brokers to dedicate time and attention to smaller
business opportunities and provide excellent and supportive customer service.
Outside of work, she is a mom of three young men who finds joy in the everyday chaos
of family life. She loves strong coffee, warm beaches, and any excuse to spend time in
the sunshine. Hot yoga and hammocking are some of her favorite ways to reset and
stay grounded and help her show up with more presence both at home and in my
professional life.
Steve brings more than 20 years of experience as a legal and financial professional to
his work with business owners preparing for transition and sale. He advises owners and
their families through every stage of the exit planning and transaction process, with a
focus on thoughtful assessment, risk management, and strategic value enhancement.
Steve is a Certified Exit Planning Advisor (CEPA®) and an active member of the Exit
Planning Institute. He previously served as Director of the Small Business Development
Center in Toledo, Ohio, where he worked closely with entrepreneurs across a wide
range of industries on growth, financing, and succession planning initiatives.
Earlier in his career, Steve practiced law with a nationally recognized Chicago-based
law firm and held roles in capital markets and commercial banking with leading financial
institutions. This multidisciplinary background allows him to approach business
transactions with a practical understanding of legal, financial, and operational
considerations.
As a business broker, Steve specializes in industrial and manufacturing companies,
skilled trades, and professional service firms, including marketing, staffing, and financial
services businesses. Steve earned his Juris Doctor from Loyola University Chicago
School of Law and a bachelor’s degree in economics from the University of Notre
Dame. He lives in the Toledo area with his wife and two daughters. Outside of work, he
enjoys traveling, cooking, and spending time at his family’s lake house.
A lifelong resident of Fort Wayne, Indiana, Dr. Mark Hagar brings decades of hands-on experience in small business ownership, acquisitions, and turnarounds to his role as a business broker. Over his distinguished career, he has acquired and operated more than 20 companies and engineered over 50 successful turnarounds, giving him a uniquely practical understanding of what makes businesses succeed, and sell. His portfolio spans manufacturing, distribution, and service firms in industries including printing, education, military contracting, aerospace, and orthopedics. This diverse background enables him to identify value, anticipate buyer needs, and structure complex deals with confidence and precision.
Mark holds a Doctorate in Business Administration (DBA) from Cranfield University’s School of Management in Bedford, England—one of Europe’s leading business schools. His research on small business resilience and operational excellence has been recognized by the Small Business Institute (SBI), the United States Association for Small Business and Entrepreneurship (USASBE), and the International Council for Small Business (ICSB).
In addition to his business career, Dr. Hagar has served as a member of faculty at several institutions of higher education, including Holy Cross College (Notre Dame), Trine University, and the University of Saint Francis. He also hosted Your Business Matters, a small business–focused radio show and podcast for more than a decade and is the author of Small Fortunes – the Acquisition Entrepreneur’s Guide to Buying a Profitable Small Business.
A passionate advocate for entrepreneurs, Mark previously chaired the Indiana Leadership Council for the National Federation of Independent Business (NFIB), representing small business owners before state and federal legislators. He currently serves as President of the Allen County, Indiana Economic Development
Commission.
As a broker, Mark specializes in industrial, manufacturing, and distribution firms, with particular expertise in special situations, distressed assets, and complex transitions where experience, creativity and discretion are central to success.