By Aayush Gupta – Real Estate Reporter, Albuquerque Business First Jul 4, 2023 Updated Jul 5, 2023 11:39am MDT
King Capital, a local commercial real estate firm, recently hired a business broker to help build its competitive edge
Jeannie Randolph was hired as the vice president of business brokerage earlier this year to bridge the gap between a commercial real estate expert and a business broker. Her role involves conducting an in-depth analysis of the finances and assets of a business, she said. Randolph was trained by her mentor Wayne Unze, who was involved in more than 850 transactions in 30 years of business brokerage, according to previous Albuquerque Business First reporting.
King Capital Founder Clayton King said he has seen an increase in businesses on the market due to the shift in people’s mindsets following the Covid-19 pandemic. Randolph’s hiring comes in a post-pandemic time where many small business owners are seeking to retire. Owners hope to hand their businesses to younger operators with new ideas and energy, he said.
“I think there's a strong opportunity with business brokerage here because you are going to see a lot of older people wanting to exit their business within the next three to five years,” King said.
Over the next few years, Randolph said she aims to use her passion and love for Albuquerque to help businesses learn to thrive in the state. She is trained in business valuations and has been an entrepreneur since 1999. As a business owner, Randolph
has started, bought and sold businesses in a variety of industries including gift, pet and the craft and hobby industry.
Prior to becoming an entrepreneur, Randolph spent five years in marketing with a credit union in Houston. She moved to Albuquerque in 1995 seeking a better climate and culture. Randolph met King in 2016, working at Maestas & Ward, now known as NAI SunVista. After she spent 18 months with Maestas & Ward as the company's business broker, she spent the next five years as the business broker in her own company, Brio Brokers Group. However, complications from the pandemic, she said, forced her to close her brick-and-mortar office and she began working from home. In 2021, Randolph was recognized as an Outstanding Producer with the International Business Brokers Association (IBBA). In 2022, she earned the Certified Business Intermediary (CBI) certification.
Albuquerque Business First recently caught up with Randolph to talk about her new role and life in New Mexico. This interview was edited for brevity and clarity.
Albuquerque Business First: What are some of the traits you think help you in this role or in this job? Jeannie Randolph: I was a business owner, so the passion I bring to being a business broker is because I've walked in a seller's shoes. I owned five businesses at one point. I've been a seller of a business, personally. I've also been a buyer of a business, personally. So, I walk in the buyer's shoes as well. I feel like that background and experience makes me that much better at what I do because I understand the emotions and the stresses from each person's perspective. And I'm super passionate about entrepreneurship. I grew up in a family of entrepreneurs so I'm super passionate about helping people be small business owners.
What does your role entail? It's important if you're selling your business that you talk to a business broker. Most sellers don't have any idea what their business is worth or even how to value the business. I'm trained in the step-by-step process to get a buyer and seller to a successful closing. I look at finances and the actual value of the assets of the business. When you are looking to get a value on your business, you need someone who is trained in business valuations because they're valued completely in a different way than a real estate deal. And so, it is completely two different mindsets and methodologies. Why did you choose to stay in Albuquerque all these years? I love Albuquerque. I love the weather. I love the people. I love the town. There's literally nothing I don't like about it. When I moved here in 1995, it was like my soul had found its home. This is where I was supposed to be, so I can't imagine ever living anywhere else. Love to travel, but I always love to come home to Albuquerque.