New Venture Lab: Equipping Christian Entrepreneurs

Former Car Rental Manager Forms Mergers and Acquisitions Advisory Firm with His Family

This profile features Alan Melton, a former car rental manager and ground transportation entrepreneur that formed a mergers and acquisitions advisory where he helps small business owners and ministers to them during major life transitions.

Name:

Alan Melton

Family Description:

Married for 30 years and homeschooling our children. The family helps with our business; writing Confidential Business Reviews, placing business listings on internet websites, doing direct mailings, interviewing business owners, taking photos of businesses, etc.

Business Name:

Empire Business Brokers, LLC

Business Description:

We provide Business Coaching, Exit Planning and Business Brokering services to small businesses with revenues up to ten million dollars in the Carolinas.

Location:

Greenville, South Carolina

Formal education/training:

I had little formal education until 2006, when I earned a BSBA via distance learning from Thomas Edison State College.

Prior work experience:

I co-founded a ground transportation in 1983 and we dedicated the business to Christ in 1986.  The Lord grew the business to 130 employees and we sold it in 1999 to a publicly held company. 

Forming the Idea:

After our initial elation about the generous offer from the publicly held company, my second thought was this; this company is the Lord's, what right do I have to sell it?  I struggled in prayer with the Lord for three months about this decision. "Lord, if this decision is not your will for my life, please close the door." But the Lord was silent. Finally, on the day that was scheduled for closing the sale, I asked the Lord one more time for an answer.  I opened up a book that I was reading, entitled "Jesus CEO."  The title of the chapter on that day was "He let it go."  The thought for the chapter is that Jesus gave His very best in preparing His organization to continue on without Him.  Then, when the time had come, He let it go.  This same principle is true for us; there is a time for us to let things go as well.  The Lord had given me my answer!

I was already teaching business people at my church about how to implement biblical principles into their business, and I had a few coaching clients.  As I prayed about starting a new business that included my family, I realized that business brokering would allow me to teach business owners how to do what Jesus did; to prepare their organizations to continue without them.

How you got started:

We relocated to South Carolina, and built some attic space into a home office for me. First we prayed long about the decision and consulted with others who knew me well to help determine if this business was a right fit for me, and if this business was the right decision for our family. We decided to buy a licensee, rather than to start a business from scratch.  This saved us the time it would have taken to create a new brand and the time to learn the business and the time to develop all the required documentation.

We had an attorney file for our corporation, got our EIN number, established a business checking account and hired a company to develop a website for us.  Our total start up costs were about $40,000.  Looking back, we could have started for about $30,000 if we had chosen to start from scratch.

What was it like in the beginning:

We were out visiting local businesses and getting practice. In the process we found some businesses that were ready to sell and some that needed coaching help. I enlisted my father in law to help me and we went out together.  He also helps with mailings and making telemarketing calls to prospective business owners.

What stage the business is at now:

We have five agents on the team, plus my family.  We presently have about 25 listings, and we have coached many business owners at various levels. Virtually every business buyer and seller is going through a major life change and is open to ministry.  We pray with and minister to almost all of our prospects.

The biggest challenge you’ve faced:

Getting established in a new community, and finding a church that fit our new vision.  Reinventing our lifestyle and business approach that fit the new vision.

From a business standpoint, the greatest challenge has been the requirement in the early stages of "wearing all the hats," and of doing the branding and marketing of our business.

Key steps that made the difference:

Starting a family integrated church that fit our new vision. Identifying the gifts and skills of our children and then utilizing them for the business. Finding one agent in particular who is gifted in sales, and having him focus exclusively on buyers. After having our website template developed, I have spent a substantial amount of time on Search Engine Optimization.  Now our site appears near the top of many searches. (www.empirecarolina.com)

Lessons Learned:

You can work at home and homeschool and still not disciple your family.  It takes discipline to be involved in your family, whether you work at home or from a remote office.

The best advice you received:

You can get anything you want in life by helping others get what they want.  (Zig Ziglar)

What your work and family life was like before:

I was a slave; helping another man to achieve financial independence.  My wife did the same. Our children were in Christian schools, which were not much better than public schools.

What your work and family life is like now:

Now it is easy to allow my business to become a "mistress," but in general I am in control of my life. My wife is a homemaker and my helpmate.  My children homeschool and help with our business. I know my family better, and am doing a better job of making them disciples of Christ.