How We Help at
First Choice Business Brokers
Overview of What we Provide...
Meeting the Family
When it comes to succession planning, my approach is designed to provide you with the support and expertise needed to ensure a smooth and successful transition of your business to the next generation. The process begins with an in-depth interview with you, the parents. This conversation isn’t just about gathering information on the business itself, but also about understanding your child’s interests, strengths, and vision for their future. By getting to know your family dynamics and the unique qualities of your business, we can tailor the presentation to resonate with your child, making the opportunity as appealing as possible.
Market Valuation
Next, I conduct a thorough market valuation and market price analysis. This step is crucial in understanding the true worth of your business, not just in today’s market but in the context of its future potential under your child’s leadership. With this knowledge, I can help craft a custom plan that not only highlights the strengths of the business but also aligns with your child’s abilities and goals. The aim is to set them up for success, ensuring they feel confident and prepared to take the reins without feeling overwhelmed by a business they may not fully understand.
Business Presentation
Once we have all the details in place, I’ll help you present the business to your child in a way that speaks to their aspirations and capabilities. This isn’t just a handoff; it’s a strategic introduction that frames the business as an opportunity for them to shape their own future while honoring your legacy. I’ll also manage all the legal and financial paperwork, ensuring that every aspect of the transaction is handled smoothly and professionally, so you can focus on what matters most—your family.
Beyond the Presentation...
I understand that despite our best efforts, your child may still choose a different path. If, after our valuation and presentation, they decide not to take on the business, I’ll guide you through the process of listing it on the open market. My goal is to help you get top dollar for your business in today’s market, finding a buyer who will value what you’ve built just as much as you do.
No matter the outcome, I’m here to ensure that your hard work is honored and that your business is in the best possible hands, whether it stays within the family or finds a new owner who will continue its success.
Luke Watkins
I’m Luke Watkins, a seasoned professional with over a decade of experience in the real estate industry. Throughout my career, I’ve specialized in investing in single-family homes and have had the privilege of guiding countless families through the complexities of succession planning. My deep understanding of how to transition ownership within a family business has made me an invaluable asset to parents looking to secure their legacy for the next generation.
Beyond real estate, my expertise extends to the buying and selling of service-based businesses. I understand the unique challenges and opportunities these businesses present, and I take pride in helping families showcase their businesses in the best possible light. Whether it’s highlighting the potential of a business for an heir or finding the right buyer when the next generation chooses a different path, I’m committed to ensuring successful outcomes that honor the hard work and dedication of the previous owners.
Building strong, lasting relationships is at the core of my approach to succession planning. I combine strategic insight with a deep understanding of the financial and emotional aspects of passing on a family business. As a trusted partner, I go beyond the role of a broker or consultant, providing personalized guidance that helps families achieve their succession goals, all while ensuring their values and legacy are preserved for future generations.
Away from the office, I’m a devoted husband and father to six energetic children. With a bustling household full of basketball games, football practices, and endless rounds of "Dad, can I borrow the car?" I’m no stranger to the dynamics of family life. I often joke that one day, I’ll be negotiating succession plans with my own kids—whether it’s the remote control or the family business, I know the stakes are high!
With that in mind, I’m especially passionate about helping other parents navigate the complexities of passing on their businesses, and I’d love the opportunity to work with you and your children to ensure a smooth and successful transition.