Why 91% of New Business Brokers Fail: The Reality Behind M&A Transactions
INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.
Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Gene Townley.
The Gene Townley Commentaries
On a recent Price of Business show, Host Kevin Price interviewed Gene Townley.
In this segment of The Price of Business, host Kevin Price interviews M&A expert and business broker Gene Townley of TNT Business Brokers about the high barrier to entry and steep failure rates in the business brokerage industry. Townley reveals an IBBA statistic showing that roughly 91% of new business brokers quit within their first year. He attributes this high turnover to the extensive industry knowledge required across diverse business models, the financial strain of waiting an average of 11 months for an initial commission, the need to manage Type-A entrepreneurial personalities, and the severe emotional highs and lows of complex deal negotiations where time can easily kill a transaction.
Gene has been self employed all his life and has owned over 20 businesses with his wife of 26 years, Wyndee, in numerous industries. They have built several businesses that they sold and are therefore very familiar with the seller’s experience and what to expect. In this same 30 years of entrepreneurial experience they have bought numerous businesses and can help buyers through the process and emotions with ease. In negotiating a sale or purchase it is a “give and take” where both the seller and the buyer have their needs met. Gene has over 15 years in the business to business marketing and sales which has allowed him to experience and understand most industries.
Learn more at https://dynamitebrokers.com/broker/gene-townley/
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