All About Blanket Real Estate

Blanket Real Estate’s slogan is?
“We Cover All Your Needs”

BUSINESS – COMMERCIAL – INVESTMENT – RESIDENTIAL

We also provide Mystery Shopping Services.

Blanket is a full service Business, Real Estate Brokerage and Consulting firm established in 1984 to cover the needs of our customers from cradle to grave and everything in between.

We can locate and help negotiate a lease for our client’s first apartment.
Then help finance and purchase their first home.

Soon we might be asked to locate, analyze, prepare a business plan and negotiate the purchase of a business.

Then we begin looking for investment properties for their retirement portfolio or other business opportunities to augment or grow their business.

Years and a few transactions later we begin to plan a divestiture program for their business(s) and personal investments.

Finally retirement is upon our customers and we might be asked to sell their business, any real estate investments they have, and then sell their personal residence – and at the same time – help find a retirement home in another state.

Blanket Real Estate markets properties. “We don’t just hang signs.” This has served us well in that the firm has high deal completion ratios on unique and hard to sell properties and businesses.

Blanket’s agents through years of experience know:

With residential properties to concentrate on neighborhoods…with commercial properties to concentrate on utility…with businesses to concentrate on cash flows…with investment properties to concentrate on ROI’s…

Blanket’s agents know how to work with Buyers and Sellers. By working both sides of the fence – issues impacting the Buyer’s or Seller’s interests can be tactfully implemented, explained and negotiated.

We get to know our clients. We work with sellers, buyers, landlords, tenants, bankers, and accountants over and over. Our relationships and knowledge of their concerns, the marketplace and players help us solve problems that arise and negotiate solutions. In many cases we can anticipate these problems and implement solutions before a deal is even on the table.

Blanket’s Real Estate Brokerage business has agents licensed in CT and NY. Business consultants and agents do not have to be licensed in these states; however, we operate our business brokerage under the same ethics and standards as our real estate activities thereby assuring our customers fair and ethical treatment.

Blanket Real Estate – Business Brokers

BUSINESS

Blanket has agents and brokers that concentrate on Business Brokerage. The firm specializes in small to mid-sized privately owned businesses located in CT’s Fairfield, Litchfield, Hartford and New Haven counties, and NY’s Westchester, Putnam, Rockland and Dutchess counties.

The company works with Buyers and Sellers. Usually Blanket’s agents work exclusively and represent the interests of Sellers. However, a Buyer can contract our firm to work for them in an Exclusive or Dual Agency Buyer Representation Agreement. This can be done at the beginning of the search or after a business has been found and targeted for a potential purchase.

Member of New England Business Brokers Association (NEBBA) and the International Business Brokers Association (IBBA). Also a candidate for the prestigious CCIM designation.

Membership in CBA, NAR, CAR/(CTR), NFCAR, IBBA, SmartMLS with designations: BBA, GRI, PSCS.

HOW DO WE DO IT? WHAT MAKES US BUSINESS BROKERS?

It’s not only our knowledge of your business – it’s our knowledge of our business that will help us sell your business.

We make the process of buying your business simple, comfortable and knowledgeable for a buyer. The Buyer feels comfortable going through the buying process with us. They feel we will give them all the information they need to know to help them make a good decision to buy a business. An Owner, accountant or a lawyer aren’t positioned to do this.

An experienced Business Broker who gives a Buyer the feeling that if they want to buy a (particular) business – here it is. If they don’t, no problem, we’ll get you something else. How can the Owner, his accountant or lawyer give a Buyer this feeling? Aren’t they or wouldn’t they be a little biased on what business to buy? The Broker isn’t!

As opposed to other real estate agents, we specialize in selling businesses. We do it because that’s how we earn a living – we’ve learned how to do it – we do not have to “invent the wheel” or try to adapt what we know about selling houses or commercial real estate to selling businesses. We already know how and what to do.

We know how and when to advertise, network, cross sell; we know how to write an offer (it’s different than real estate); and, we know how to negotiate and value a business. You think someone who doesn’t do this all the time does? Finally, we’re good at all these things! Why? It’s because we’re still doing them for almost four decades (and we’re making a good living doing it).

THE VALUE OF A BUSINESS BROKER

Maintains confidentiality
Knows and gathers pertinent information about your business
Recasts financials

Has valuation knowledge
Understands goodwill value
Maximizes the value of the company

Provides an overview of tax consequences to the parties, relationships with professional experts
Clarifies what is being sold – describes the historical and points out the future
Has market knowledge and understanding

Possesses multi-pronged marketing strategies
Has database of prospects
Has understanding of various financing options and contacts with appropriate specialists

Is affiliated with other competent professionals in the Business Broker community
Possesses negotiating skills and an understanding of emotional issues of the parties
Acts as the buffer between parties, thereby allowing seller time to make reasonable decisions

Has the ability to better control the issues
Coordinates and facilitates sell-side and buy-side activities and associated specialists, advisors and landlords, accountants, attorneys, insurance carriers, lenders etc.

Permits the seller to continue focusing on running their business
Is not emotionally tied to the business, maintains objectivity in process and transaction

…The Business Broker Newsletter…

Blanket Real Estate – Business Brokers

LISTING…
SELLER REPRESENTATION – WHEN THE FIRM EXCLUSIVELY REPRESENTS THE INTEREST OF THE SELLER:

This is what usually happens when you list your business or property with us…

We will educate Sellers on the selling/buying process.

Recast the financial statements to remove personal items and extraordinary one-time occurrences – so that the actual performance of the business can be determined without outside influences.

Next a business valuation is done to determine a listing price range of the price this business should obtain in the market under current conditions. Blanket valuation experts make an exhaustive attempt to maximize the value of the businesses we analyze.

We prepare data sheets on the business to show prospective buyers.

Potential Buyers are pre-screened to see that a possible match exists and that they are qualified to buy.

Confidentiality levels that suit the Seller’s circumstances are determined and strictly adhered to.

Now the work really begins – we begin marketing the business.

We used to (and sometimes still do) advertise locally and in surrounding towns or other locations where prospects are thought to be via newspapers, periodicals and trade journals etc. but now the internet has taken over what we use to do with the newspapers etc.).

We use several multiple listing services to attract residential and commercial agents not familiar with business brokerage. (If these agents have a client or customer who is interested in one of the businesses we have listed, and should their client buy one of them, they will earn part of our commission (Co-Broke) for doing almost no work. We sell a lot of our business with the help of these 17,000 + agents.

As you can see we have our own internet site too – as well as placing your business on 10 -15 other regional and national web sites. These websites also spider off to other websites.

We send out direct mail and telephone prospects. We solicit buyers directly from our and co-operating offices list of prospects.

We also tell members about our listings at monthly marketing meetings.

When a prospect is found we show the business, answer questions, obtain requested information and negotiate the selling price and terms.

We answer and solve problems raised during the “due diligence” process.

Lastly – during final contract negotiations, we explain the issues raised by the lawyers to both the Buyer and Seller – and help solve last minute difficulties.

Blanket Real Estate – Business Brokers

BUYING…
BUYER REPRESENTATION – WHEN THE FIRM IS EXCLUSIVELY REPRESENTING THE INTERESTS OF A SELLER:

This is what usually happens when we exclusively represent a Buyer…

We will meet with a Buyer to discuss their background and why they want to go into business for themselves.

Next we determine the types of businesses that best fit this background and the kind of business desired.

Lastly we determine what you can afford to purchase and finance.

Most importantly, we will describe and explain what going into business for yourself is like and the changes in lifestyle you and your family can expect.

Then, we will look for businesses that fit the above from: our own listings, multiple listing services, the internet, listings of co-operating offices, brokers, agents and business intermediaries, and from networking groups. And if we are Exclusively Representing a Buyer – we will visit targeted businesses and see if they want to sell.

After a business is found we will: obtain background and financial information from the owners, prepare an analysis and understanding of the business, prepare spreadsheets of the last several years business tax return income and expenses, construct a pro-forma of actual discretionary cash flows available to a new owner, look at and evaluate income and expense items and determine a price range for the business that is fair to both Seller and Buyer.

Next we will help you negotiate price and terms. We will prepare an Offer to Purchase, Letter of Intent or Contract Agreement to Purchase – depending on the particular circumstances – to purchase the business.

Blanket will help you locate financing for the business and if necessary prepare a business plan, budgets and forecasts.

After the Offer is accepted – our agents will work with you and explain what you and your advisors should do during the “due diligence” to verify all the figures and information obtained from the owners of the business.

Next, we will help you understand the contract process, lease negotiation and any inspections, testing and licensing that may be required.

After the sale we can remain in a consulting capacity or even join the new firm’s Board of Directors.

Blanket Real Estate – Commercial

Blanket Real Estate – Residential