Bohemia business broker busier than ever
BROKERING
Business is not bad for everyone, particularly not for a man whose Bohemia-based business is buying and selling businesses.
A.J. Caro, owner of Bridge Business & Property Brokers, said the buying and selling of businesses lately has been frenetic. "We had a 50 percent increase in 2009 over '08," he said.
"I hear people say business is terrible," Caro said. "But for me, it's busier than what I can handle. My challenge is to get enough people to handle all of the deals."
People are looking to buy marketing businesses, janitorial companies, tax and accounting services, car washes and insurance firms, Caro said.
Bridge has locations in other states and has about 60 brokers in each location. Customers, Caro said, tend to be displaced executives and upper-level managers who can't find jobs in this economy. The businesses they buy range from brick-and-mortar stores to $20-million to $50- million companies.
Caro practices what he preaches, keeping his hands in five other businesses: a security company, an insurance firm, a fund and two health care-related businesses. Combined revenues are about $25 million. Caro is 37. He argues anyone can do what he did. "There's nothing special or genius about what I did," he said. "I just surround myself with good people who are good at what they do."
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