Get to Know Our Team: Robert Doyle
Robert Doyle, Business Broker & Commercial Real Estate Broker
I am a native of… Fort Wayne
I've been with Sturges Property Group for... 6 years
How did you get started in commercial real estate or at Sturges? I joined Sturges after collaborating with Brokerage VP John Caffray on the sale of business assets for a local company. The opportunity to work with Sturges introduced me to the brokerage team that includes Brad Sturges and Barry Sturges. I’m grateful for the opportunity to work with the best brokerage professionals in northern Indiana.
Tell us about being a Business Broker. Successful Business Brokers are analytical people with a broad range of skills. Sales skills are essential because you must first work with the seller to list the business and then identify, sell, and close with a buyer. Establishing trust with any seller is crucial because they have given the broker responsibility for their largest financial transaction and confidentiality must be maintained during the entire sales process. Business Brokers must also be comfortable with recasting financial statements and understanding tax returns to make sure the asking price is correctly calculated.
What drew you to business brokerage? The desire to be of service to others and a passion to help business owners navigate the sales process to get the best price and terms for their companies. My professional experience in sales and marketing makes me ideally suited to working with sellers to list their businesses for sale and confidentially market the business opportunity to qualified buyers.
How is Business Brokerage a beneficial service to the Sturges brokerage team? The marketing expertise of Sturges Property Group allows the widespread dissemination of business opportunities to qualified buyers who anonymously describe the business while not revealing their name, address, or exact business type. The goal is to build a team of advisors at Sturges Property Group who will bring a significant addition of expertise to serve the estimated millions of business owners who could sell their businesses in the next 10 years.
What are the biggest challenges and rewards of helping someone buy/sell a business? Putting value on a business is far more difficult and complex than valuing a house or commercial building. The greatest reward is when I can create competition among buyers by confidentially yet aggressively marketing a business in an auction-style process that assures the best price and terms for the seller.
What was your most memorable deal? I was contacted by a Financial Advisor who represented the widow of a recently deceased business owner. Unfortunately, the deceased business owner was among the 30% of business owners who do not seek outside advice regarding a business exit strategy, and the sale of the business fell upon an already grieving widow. Fortunately, the Financial Advisor contacted me for advice on how to handle the business sale during this difficult time. Following a business valuation, I executed a Listing Contract for the business assets and went to work on the widow’s behalf. I confidentially marketed the business in a limited auction-style process that attracted a variety of buyers. An out-of-state manufacturing company looking to expand its production by acquisition paid 100% of the asking price in cash and the entire sales process from Listing to Closing was accomplished in 95 days.
Rapid Fire Questions
A random Fort Wayne fact: The “breathalyzer” was invented by a Fort Wayne native.
Who would play you in a movie: Woody Allen or Rainn Wilson
Favorite Fort Wayne store: The Fresh Market
Something you’d like to see come to Fort Wayne: A Whole Foods grocery store and Total Wine & More.
Describe yourself in three words: Competent, Persistent, Trustworthy