Omar Garcia - Insights into Selling Businesses

A Leader’s Journey podcast

Omar Garcia, a business broker, shares his career journey and insights into selling businesses. He started his career in Mexico working for a conglomerate and was involved in billion-dollar M&A activities. He then transitioned to the US and worked in marketing for a beer company. Eventually, he started his own business brokerage in San Antonio, which has been highly successful. Omar discusses the factors that make a business sellable, such as client concentration and dependence on the owner. He also talks about the current market conditions for selling businesses, including the increased interest from private equity firms.

Takeaways:

• When selling a business, it is important to avoid client concentration and ensure the business is not too dependent on the owner.
• The market conditions for selling businesses are currently favorable, with increased interest from private equity firms and a growing trend of Gen Z buyers.
• When choosing a broker, it is important to consider their experience, track record, and chemistry with the seller.
• One of the first steps to selling a business involves providing financial statements and estimating the value of the business.

Chapters:

00:00 Omar Garcia's Career Journey

07:07 Factors to Consider When Selling a Business

15:18 Current Market Conditions for Selling Businesses

25:10 Preparing to Sell a Business