Question 1

What is the typical timeline for selling a middle-market business in Tampa?

Accepted Answer

The timeline for selling a middle-market business typically ranges from 6 to 12 months from initial engagement to closing. This includes 2-3 months for preparation and positioning, 3-4 months for marketing and buyer identification, and 2-4 months for due diligence and closing. However, timelines can vary significantly based on market conditions, business complexity, and buyer readiness.

Question 2

How do you determine the value of my business?

Accepted Answer

We use multiple valuation methodologies including Discounted Cash Flow (DCF), Comparable Company Analysis, Precedent Transaction Analysis, and Asset-Based Valuation. Our approach considers your financial performance, growth trajectory, market position, customer concentration, recurring revenue, and industry-specific multiples. We provide a comprehensive valuation range supported by market data and recent transactions in your sector.

Question 3

What makes Bluefin Capital Advisors different from other M&A firms in Florida?

Accepted Answer

We specialize in middle-market transactions in the Tampa Bay and Gulf Coast region, bringing deep local market knowledge and extensive buyer networks. Our team includes Certified Exit Planning Advisors (CEPA) who focus on maximizing enterprise value through strategic positioning. We offer comprehensive services including Quality of Earnings analysis, exit planning, and capital services—providing end-to-end support throughout your transaction journey.

Question 4

Do you work with buyers or sellers?

Accepted Answer

We work with both buyers and sellers. On the sell-side, we represent business owners looking to exit and maximize value. On the buy-side, we assist strategic and financial buyers in identifying, evaluating, and acquiring target companies. Our dual perspective gives us unique insights into what drives successful transactions from both sides of the table.

Question 5

When should I start planning my business exit?

Accepted Answer

Ideally, exit planning should begin 3-5 years before your intended exit date. This timeline allows you to systematically increase enterprise value, address operational gaps, diversify customer concentration, strengthen management teams, and optimize financial performance. However, we can help at any stage—even if you need to exit sooner due to health, partnership issues, or unexpected opportunities.

Question 6

What is a Certified Exit Planning Advisor (CEPA)?

Accepted Answer

A CEPA is a professional who has completed rigorous training in exit planning methodologies through the Exit Planning Institute. CEPAs are equipped to help business owners maximize enterprise value, minimize taxes, ensure financial security, and achieve personal goals through comprehensive exit planning. Our CEPA-certified advisors bring specialized expertise in value acceleration, succession planning, and transaction execution.

Question 7

How much does exit planning cost?

Accepted Answer

Exit planning fees vary based on the scope and complexity of your situation. We offer initial consultations at no cost to assess your needs and goals. Comprehensive exit planning engagements typically range from $15,000 to $50,000 depending on business size, complexity, and timeline. Many clients find that strategic exit planning increases their business value by 20-40%, far exceeding the investment in professional guidance.

Question 8

Can you help with succession planning for family businesses?

Accepted Answer

Yes, we specialize in family business succession planning. We help navigate the unique challenges of transferring ownership to the next generation, including valuation for estate planning, buy-sell agreements, management transition, tax optimization, and family governance structures. Our goal is to preserve family harmony while ensuring business continuity and maximizing value for all stakeholders.

Question 9

What is a Quality of Earnings (QoE) report?

Accepted Answer

A Quality of Earnings report is an independent financial analysis that validates and normalizes a company's historical earnings. It identifies one-time items, accounting irregularities, revenue recognition issues, and working capital trends that may affect valuation. QoE reports provide buyers with confidence in financial statements and help sellers demonstrate the sustainability and quality of their earnings.

Question 10

When is a Quality of Earnings analysis needed?

Accepted Answer

QoE analysis is typically required during the due diligence phase of M&A transactions, especially for deals over $10 million. Sellers may commission a sell-side QoE to identify and address issues before going to market, increasing buyer confidence and potentially accelerating the transaction. Buyers commission buy-side QoE to validate financial statements and inform valuation adjustments.

Question 11

How long does a Quality of Earnings analysis take?

Accepted Answer

A typical QoE engagement takes 3-6 weeks depending on business complexity, financial system sophistication, and data availability. The process includes initial scoping, document request, management interviews, fieldwork, draft report review, and final report delivery. We work efficiently to meet transaction timelines while maintaining thoroughness and accuracy.

Question 12

What's the difference between a QoE and a financial audit?

Accepted Answer

A financial audit verifies that financial statements comply with accounting standards (GAAP), while a Quality of Earnings analysis goes deeper to assess the sustainability, quality, and cash generation capability of earnings. QoE reports normalize earnings for one-time items, identify working capital trends, analyze customer concentration, and highlight risks—providing transaction-specific insights that audits don't address.

Question 13

What documents do I need to prepare for selling my business?

Accepted Answer

Key documents include 3-5 years of financial statements (P&L, balance sheet, cash flow), tax returns, customer and vendor lists, organizational charts, employee agreements, material contracts, intellectual property documentation, and operational metrics. We help you organize and present this information in a professional Confidential Information Memorandum (CIM) that positions your business attractively to qualified buyers.

Question 14

How do you maintain confidentiality during the sale process?

Accepted Answer

We implement strict confidentiality protocols including anonymous teaser documents, Non-Disclosure Agreements (NDAs) before sharing detailed information, controlled data room access, and strategic buyer targeting to minimize market exposure. We carefully manage information flow throughout the process to protect your business relationships, employee morale, and competitive position.

Question 15

What is a Letter of Intent (LOI) and what happens after I receive one?

Accepted Answer

A Letter of Intent is a non-binding document outlining proposed transaction terms including purchase price, structure, earnout provisions, and timeline. After receiving an LOI, we negotiate terms, conduct due diligence, draft definitive agreements, and work toward closing. The LOI phase typically grants the buyer 60-90 days of exclusivity to complete due diligence and finalize documentation.

Question 16

What are common deal structures for middle-market transactions?

Accepted Answer

Common structures include asset sales (buyer acquires specific assets), stock sales (buyer acquires all equity), mergers, and recapitalizations. Payment structures may include all-cash at closing, seller financing, earnouts based on future performance, or rollover equity where sellers retain a minority stake. We help you evaluate structures based on tax implications, risk tolerance, and personal goals.

Question 17

How do M&A advisory fees work?

Accepted Answer

Our fees typically include a monthly retainer (covering preparation and marketing costs) plus a success fee based on transaction value. Success fees are structured on a sliding scale (Lehman Formula or Double Lehman), ranging from 2-5% depending on deal size. We align our compensation with your success—the larger the transaction value, the greater our fee, ensuring we're motivated to maximize your outcome.

Question 18

Do you offer free initial consultations?

Accepted Answer

Yes, we offer complimentary initial consultations to discuss your goals, assess your situation, and determine if we're a good fit. This no-obligation meeting allows you to understand our approach, ask questions, and get preliminary insights into your business value and exit options. Contact us to schedule your free Exit Clarity Call.

Question 19

What geographic areas do you serve?

Accepted Answer

We primarily serve the Tampa Bay area, greater Florida, and the Gulf Coast region. However, we have successfully completed transactions nationwide through our extensive network of buyers, investors, and strategic partners. Our local presence combined with national reach gives you the best of both worlds—deep regional expertise and broad market access.

Question 20

How involved will I need to be during the sale process?

Accepted Answer

Your involvement is critical during the preparation phase (providing financial data, operational insights) and due diligence (answering buyer questions, facilitating site visits). However, we handle the heavy lifting—buyer identification, marketing, negotiation, and transaction coordination. Most clients spend 5-10 hours per week during active phases, with our team managing day-to-day process execution to minimize disruption to your business operations.

Frequently Asked Questions

M&A Advisory

Exit Planning

Quality of Earnings

Transaction Process

Fees & Engagement

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