Michael Wilmore
President and Principal Broker
Michael formed CABB in 2011 as President and Principal Broker. He brings with him over 27 years of business ownership; including multiple Subway franchises, a Papa’s Pizza to Go franchise, and managing a Liberty Tax Service franchise as a level one certified tax preparer. Experience includes 8 years as a Field Consultant with the world’s largest franchise, Subway Sandwiches, during which he opened over 30 stores for the company.
Michael obtained his real estate license in 2007. His first position was as a Business Broker with ABBN Business Brokerage. In 2010, he relocated to Northern Virginia and for the next 6 years he hung his license with Coldwell Banker Commercial. In 2014 he obtained his brokers license. Michael formed Capital Area Real Estate Services (CARES) in 2021, making CABB and CARES a one stop shop for full service commercial real estate needs.
Experience
Years of experience make the difference
Forward Thinking
Innovative practices utilizing state of the art technology
Problem Solvers
Sellers need buyers, buyers need businesses, we put them together
Client Support
Responsiveness is our number one priority
Mission Statement
CABB/CARES is a full service brokerage that acts as an intermediary and fiduciary on behalf of the clients we serve. Our clients include a mix of first-time business owners, seasoned multi-unit owners, investors, as well as acquisition companies who seek to build or expand their portfolio.
CABB/CARES was founded on the guiding principle of New Testament’s “Golden Rule” in which Jesus, the Christ, commanded his disciples to “do unto others as you would have them do unto you”. We answer to a higher power.
Business Valuation
How much is your business worth? A sad story: In consultation with a prospective seller, we asked her how much she thought her business was worth. She responded, “$450,000”. We asked where she got that number and she replied that she owed $185 on her home mortgage, $30,000 for car loan, and she would love to take a vacation and do some shopping. This is how some business owners value their business for sale, but it is not based on factual data. In this example, after several price reductions and 12 months time, the business finally sold for less than $100,000.
A happy story: During an initial consultation, when the client was asked what they thought their business was worth they responded $450,000. Using CABB/CARES valuation tools, software, and guides, we determined that the price was within the industry comps. We took the business to market and it sold in 6 months for full price.
Conclusion: Valuing a business involves more than personal desires. It is a mixture of comps, cash flow analysis, location, and history. All of this combines to create a valuation attractive to the market, ie. prospective buyers.
Promote Listings
Confidentiality is key with most business listings. We maintain confidentiality while promoting your business for sale, using the highest level of professionalism. We use Non-Disclosure Agreements and Confidentiality Agreements as a standard service to our clients An integration of digital marketing, print advertising, and our vast network of contacts, ensures that our clients receive maximum exposure. Maximum exposure is critical to bringing buyers to sellers and sellers to buyers.
Consultation
The initial consultation is always free; however, consultation does not end there, it continues throughout the entire buy/sell process. The clients are advised using hundreds of closed transactions, 20+ years of experience buying and selling businesses, and being in-tune with the legalities of the buy/sell process. No single individual knows it all. At CABBCARES, our team includes commercial bankers, commercial attorneys, commercial accountants, and others, giving the client several options throughout the engagement for each step, from listing to settlement, with the client being the ultimate decision maker. We are always there for our clients, even after settlement.