American Business Brokers & Advisors
Founder & President

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Professional Intermediary & Market Maker for Privately Held Companies

Advisor • Consultant • Speaker • Market Valuations Involved in Closing 500+ Business Transactions & Over $500 MIL

Author of "The Art of Buying and Selling a Convenience Store"

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Testimonials


Wayne Compton

President/CEO
Jiffy Stop

My journey into the convenience store industry is likely different than most people who have gotten into the business. My original vocation in the 1970’s was that of a CPA with Arthur Andersen & Company, a large accounting firm. However, I soon observed that my future as a CPA was not the course I wanted to pursue. If I wanted to build equity in tangible assets and be in control of my future, I needed to self-employed.

It was 38 years ago that I was able to purchase an interest in a client in the wholesale and retail fuel business. Like many at the time, we transitioned into salary operated convenience stores over the next several years. In 1993 I acquired 100% ownership and was able to continue growing the convenience store business into a successful and profitable chain of stores. In 2015 Terry Monroe and Bill Fecht inquired whether I wanted to sell my convenience store business. There were many issues to consider. They both are down to earth people who were able to discuss and understand all the pros and cons. After much internal deliberation and discussion with family members along with the guidance and advice from Terry and Bill, I concluded that the timing was right for my family and me to exit the convenience store industry.

Since I am an accountant by training, I was very cognizant of the business and tax ramifications presented by the sale of a business. Terry was able to work with me in helping to find the right buyer who was willing to accommodate my business and tax situation. During the process of working with the buyer of my stores, Terry was with me all of the way to help coach and prepare me what I should expect and how the process works. He was endlessly accessible by phone or email to respond to my questions or concerns.

I recommend Terry and his company, American Business Brokers & Advisors, to anyone who is considering exiting the convenience store industry. This industry is his specialty. His firm has many contacts. Their team members are knowledgeable and skilled working with buyers and sellers.

Mr. Kent Satrang

President/CEO
PetroServe USA

I had the pleasure of meeting Terry Monroe and Bill Fecht when Bill called to ask if I would be interested in acquiring a large chain of convenience stores in our market. This was the first strength of what makes American Business Brokers successful, they have an extensive and ever growing marketing network of potential buyers and sellers. Often, I hear of a chain in our region who sells and I never knew they were for sale. They “saved the brokers fee” by selling their life’s work to the person across the street. I always wonder how much money they left on the table, by simply not putting their business up for sale in a manner where their competitors can even enter into their final and most important sales transaction. Having a specialized broker makes even more sense, because their network is industry specific to the types of businesses that want to buy your life’s work. They have a pulse on the present expansion appetite that their network of buyers has.

Once I signed their confidentiality agreement, Bill passed me on to his partner Terry Monroe. Like most people in sales, Terry has a warm and friendly professional personality. However, it didn’t take more than a few minutes to realize that Mr. Monroe knew the ins and outs of the C-Store industry like no one I had met before. I thought, this guy could write a book on the intricate details of selling and buying a petroleum business. A few weeks later I found out Terry actually had written “The Art of Buying and Selling a Convenience Store”. To level the playing field, I went out, bought a copy, and quickly read it. While my wife said, it was perhaps the most boring book in print, I could not put it down. If you are interested in exiting, entering, or expanding in this industry, this book is necessary read. If you are serious and passionate about the convenience store industry as your vocation, you can un-level the playing field to your advantage, if read and understand every page. It is an easy read, but it details every step, so a transaction will successfully play out and when the keys are handed over, you can feel confident that if you work hard, you will achieve the ROI you had planned for.

Since beginning in this industry in 1981, I have purchased twenty different petroleum businesses. Every deal and every seller was unique. There are always bumps in the road and sometimes we run into roadblocks. The recent acquisition that we did with American Business Brokers & Advisors went very smooth, because Terry had thought ahead and what would have been a roadblock already was averted, because we had discussed the potential issue and we had a Plan B. Terry is a problem solver who has seen it all before and he has the ability to walk both sides through difficult issues.

I also really appreciate the technological advantage that buying a business through American Business Brokers & Advisors provides. Some businesses do their books in a non-traditional accounting format. Terry and Bill take great pictures and explain clearly, what is for sale. If needed their team will retype the financial reports to give you a few years history and the last 12 trailing months. This allows the buyer to view trends and these reports were all on a cloud format and very easy to view. His team put past environmental reports, past year’s income tax reports, real estate tax data, departmental financials, and organizational charts and I had constant access to these critical documents. He also clearly states EBITDA and other tools the seller feels are important to a potential buyer and their lender.

It is said that at the intersection of your passion and gifts lies true success. I am confident that you will not meet two more passionate people about our industry than Terry Monroe and Bill Fecht. The thing that makes them one in a million as brokers is that passion, but even more so, it is their education and their life experiences in our industry. I would highly recommend talking to American Business Brokers & Advisors if you are thinking about selling your life’s work. You won’t do better than Terry and Bill and their staff to represent you.

Monica Musich

President, Valley Dairy

I decided to sell by business in 2016 after being in the convenience store/car wash business for over 28 years. I knew how to successfully run these types of businesses, but wasn’t knowledgeable in selling my own business. Who should I contact that would be interested in purchasing a business – a local competitor or a large out of state company? What information would a potential buyer want and need? How do you keep all the information confidential? Am I too attached to my business to price it fairly and competitively? Since I was probably going to sell only one business in my life, I decided that I needed a professional in this area to assist me so I didn’t make any costly mistakes.
The first step was the hardest, finding the right person to represent me and take me through the process. I found that person in Terry Monroe with American Business Brokers and Advisors. From our first conversation, I knew that Terry was the right person. He explained the procedure and kept me informed every step of the way. When I became stressed, which believe me you will, he was there to reassure me that everything was going along as it should. He also kept the process as easy and straightforward as possible. He is very professional, well connected, honest, trustworthy and always looking after his clients’ best interest.
I can’t envision what it would have been like going through the sale of my business without Terry Monroe or imagine why anyone would want to try this major transaction on their own. I am so happy for both of my decisions – to sell and to hire Terry Monroe.

Greg Bultman

President, Quality State Oil

Having been in the convenience store business for over 28 years and growing our retail division to 17 stores I always knew that eventually I would probably end up exiting the retail business at some time or another. Over the years I had spoken to Terry and his partner Bill Fecht on several occasions and considered selling our retail stores. Eventually I knew from my background in investment banking that the time was right for me to exit the retail business and contacted Bill and Terry to help me start the process.

Bill Fecht and Terry Monroe did an excellent job in valuing, marketing, working with prospective buyers and eventually closing on the sale of my 17 convenience stores and I could not be happier with their services. I would highly recommend Bill Fecht and Terry Monroe to anyone who is considering the selling and marketing of their convenience stores. They are both professional and knowledgeable in the marketing and selling of convenience stores.

Andy Lester

President, Sunset 66

I had called and spoken with Terry over the years about the possibility of selling my convenience store and he was always transparent and informative with me as to what the market conditions were like, however I could not bring myself to putting the store on the market even though I knew it was the right thing to do.

Finally I called Terry and asked him to sell my convenience store and help me to exit the business. However, in order to sell my store I had to sell additional commercial real estate that I had acquired in order to get the sale to go through based on the current regulations in the city so it wasn’t as simple process as I thought it would be.

Terry is very knowledgeable in regards to commercial real estate and the selling of businesses and worked diligently and continually to ensure everything was complete and done properly through the entire process of working with the buyers until the closing of the sale of the store and additional parcels of real estate.

I would highly recommend Terry and American Business Brokers to anyone who is serious about working with a professional and desiring to exit the convenience store business.

Becky Shotwell

President, Stop-N-Go

Our convenience stores had been in our family for 2 generations. When we decided to exit the convenience store business, we were directed to Terry Monroe and his company American Business Brokers. Terry was very hands on. He guided us through the process of valuing our business, working with the buyer and ultimately the selling of the stores. He understands the convenience store industry. I would recommend Terry to anyone who may be interested in learning the value of their business with thoughts of possibly selling their convenience stores at some time.

Rick Marketti

President, MKM Oil

I had talked with Terry and his partner Bill Fecht off and on for probably 5-6 years. We would get together and have lunch and they would share with me what was going on in the market place regarding what convenience stores were selling for and what type of buyers were available. We always had a good time talking and our meetings were informative, but I wasn’t ready to sell. So we continued to talk.

Then things changed. The convenience store industry changed to begin with. Even though MKM Oil had grown to 35 stores with several dealers and was extremely profitable I know ii was getting harder to compete with the national chains and we weren’t as efficient as we should have been. Plus I was getting older and the4re was not another generation to step in and take over the company.

SO after 26 years of owning and operating MKM Oil and no one else to take over the leadership or running MKM Oil, I decided to talk to Terry about the possibilities of selling MKM’s convenience stores.

Terry did just what he said he would do. First he worked with us on collecting all of the information about MKM Oil to be able to create a marketing package that could be presented to a prospective buyer and then began to implement the process of selling MKM Oil.

Believe it or not, we were able to keep the entire process confidential until the time we had contracted with the company who ultimately purchased MKM stores.

Terry is well versed in the art of negotiating and deal making and worked hand-in-hand with our accountant and attorney and was a vital part of the team that guided the sale of MKM Oil to a successful closing. I would highly recommend Terry Monroe and his group to anyone who is thinking about selling their convenience stores and wants someone who knows the process and has the skills that are needed to get the job done.

Jim and Pat Fash

Jiffy Mini Marts - Terre Haute, IN

“Terry and his company American Business Brokers were able to accomplish something that I thought to be impossible and that was to sell my chain of convenience stores and help me get the market price I wanted for my stores. Terry worked with my wife and I in the valuing of our stores, the marketing of the stores, the negotiation and ultimately the sale of our stores.

We would highly recommend Terry and his company if someone was interested in wanting to know the value of their convenience stores and ultimately in the selling of their stores.”

Greg & Nancy Gromann

Gromann Service, Inc.

“I had talked with Terry over the past several years about the selling of my convenience store and truck stop, but when I finally made the decision to move forward, Terry sold both of the units for me and my only regret is I did not employ him earlier to get the stores sold.

If you are looking for someone who will work until they get the job done I would recommend Terry Monroe and his group when selling your convenience store or truck stop.”

John & Kris Clark

Ray Oil Company - St. Louis, MO

“My wife and I were referred to Terry and American Business Brokers by a very successful and long time friend in the convenience store business. We had owned our 4 stores for over 30 years and did not know what the process was for selling a convenience store or how one goes about selling their business. With Terry’s coaching and past business experience we were able to have the stores prepared and marketed in the correct way that ended in a successful sale of all the stores. We really appreciated Terry’s help and would recommend him to anyone thinking of selling their convenience stores.”

Jerry & Marlene Huot

Huot Oil Company

“Our Oil Company and chain of convenience stores has been out family for 4 generations. So when the decision was finally made to sell, we wanted to make sure we had the person that could take us to the closing table and get us the highest value for our company. Our conversations with Terry spanned over several years and during that time he stayed with us and guided us on how to position our company to be sold for its highest value.

We feel that because of Terry and his expertise in the selling of convenience stores and his guidance in the selling process we were able to get the highest value for our stores and able to complete the sale of our family business in a timely manner.”

John Miller

President - Colonial Pantry Convenience Stores

“The outcome of employing the services of Terry Monroe was exactly what I had hoped for. Our stores were sold in a timely manner to a buyer that was fully qualified to perform the purchase.

I was originally hesitant, as a long time and successful business owner, to employ and pay a fee to a third party intermediary for a service that I thought I could perform myself. It was only after several conversations with Terry and his partner Bill Fecht that I realized that they were professionals in the area of marketing and the selling convenience stores.

Even though I had sold stores in the past, I was not able to find the type of buyer who would fit the selling criteria that I was looking for, but Terry did. The selling of one’s business is a very detailed and prolonged process, but Terry was there to help guide me through the many facets of the process and assisted me with the answers and guidance I needed to get the sale completed.”

Mike Meier

Meier Oil Company

“Our family had been in business for 3 generations when we decided to exit the fuel transit business. I contacted Terry, because I knew he was experienced in the valuing and selling of petroleum related assets. Eventually Terry and his group not only helped our family sell the transit business, but also our fuel distribution business and our fuel terminal.

Terry is well versed in the art of negotiating and deal making and was able to coordinate the sale of our company in a complex stock sale, thereby giving our family a tremendous tax savings and more profit to be shared among the family.
I would recommend Terry Monroe and his group to anyone who wanted to know what the market value of their business is worth and to help them sell their business for top dollar.”

Tom G. Platis

President - Hy-Way Oil - Topeka, KS

“Terry, my partners and I would like to thank you for representing us in the selling of our 23 convenience stores. Even though they were located in Texas, Indiana, Michigan, Pennsylvania, Maryland, Kentucky and New York your expertise and professionalism was a great asset in finding the right buyer for our stores.

This was a difficult decision, but you gave us the encouragement and insight that this would be the best opportunity for us.

We appreciate all the communications of keeping us informed of all the activities through the process. We all consider you a friend professionally and personally.”

Bob Green

Green Oil Company

We started with over 20 convenience stores that I had accumulated scattered all over the State of Illinois. And we did it the hard way. Selling them one and two at a time, but Terry and his staff at American Business Brokers got the job done and now I can truly say that I am out of the convenience store business.

Jerry McDaniels

McDaniel Trucking

Terry and me still talk about the challenges we faced and all of the issues that we had to deal with in order to get my chain of convenience stores sold. However, through his perseverance and willing to not give up we were able to put the deal together and most of all get it closed. I would recommend Terry and American Business Brokers if they really want to get a deal done and closed.

Randy Strohm

Strohn Oil Company

Terry and American Business Brokers handled the sale of my businesses and I was pleased with their attention to detail and being accessible when I needed to speak with them. I found Terry to be honest and represent my interest. I would recommend him to anyone who is anticipating selling their business.

Jim Whetstone

Huck's Conveneince Stores

We have had an excellent working relationship with Terry Monroe and his company American Business Brokers. Because of Terry and his staff, we were able to put together some tough deals that have allowed us to not only divest of some under-performing stores, but free up capital dollars for some new builds in areas we were needing to expand into. We appreciate Terry’s help and look forward to working on future deals with Terry and American Business Brokers.

Ike Mefford

Speedway SuperAmerica

“As Director of Business Development for Speedway SuperAmerica, I used the professional services of Terry Monroe, and American Business Brokers, to assist in securing new stores and the disposing of non-strategic assets.

Terry was responsible for bringing Speedway SuperAmerica a group of 14 stores in Ohio that continues to be a very successful acquisition. Terry’s vast knowledge of the Convenience Store business, expertise in buying/selling properties and tireless efforts made for a very smooth transaction from start to finish.

I would strongly recommend Terry and ABB to anyone in the industry with similar needs.”

Jon Bjornstad

C & N Company

“I had a very successful ethanol marketing company with accounts nationwide, but knew the time had come for me to change the way I was doing business. Terry helped consult with me in all of the aspects of selling my business. Not only did help find a buyer for my business, but he helped structure an exit plan that enabled me to receive a higher value than if I had sold the business by myself. What is remarkable is to this day Terry and I still talk on how to structure new acquisitions and business ventures. Great service after the sale.”

Lou McQuaid

McQuaid Mini Marts - Warren, OH

“I had been wanting to sell my chain of 12 convenience stores and wasn’t for sure who I could get to help me sell them. Even though I had bought and sold many stores over the years myself I knew that selling a chain of convenience stores is a completely different process. I was introduced to Terry from a mutual friend and with his guidance and tenacious personality we worked though the process of selling them all at the same time. Something that I needed to do, enabling to exit the industry and retire from the convenience store industry.”

Mike Owens

President - Freedom Oil - Bloomington, IL

“I have worked with Terry several times over the years in the selling of some our convenience stores and have always found him to be very professional and knowledgeable. He has a process that he applies as to how convenience stores should be sold and implements the process with effective results.”

Karl Goodhouse

Vice President, Petroleum & Business Development - Clark Retail Brands - Chicago, IL

“Terry did an outstanding job for our company in helping us with the divesting of our convenience stores. His responsiveness and solution minded ideas were instrumental in the closing of deals that would not have happened without his input. If someone has a group of convenience stores and is serious about selling them, I would definitely recommend Terry in getting the job done.”

Bill Chaney

President - Quality Oil Company - Bloomington, IL

“When Terry and I first talked about selling my convenience stores and jobbership I was some what skeptical. But after he explained his process of how to be successful in the selling of convenience stores he was able to sell my convenience stores and my jobbership thereby allowing me to exit the industry completely.

Terry works very diligent and professionally and gets the job done. He deserves to be called the “closer”.

Chuck Feeny

President - Fast Break Food Mart, Inc. - El Paso, IL

“Terry, I wanted to say thank you for all of your hard work and the time you spent helping me to sell my travel plaza, convenience stores and jobbership. Thanks to you I am now able to enjoy a more laid back life style and the fruits of my many years of work. It has been a pleasure and an enjoyable experience working with you.”

Loraine Hess

President - Etna Oil Company - Ottawa, IL

“I can’t thank Terry and his company American Business Brokers enough for helping me sell my chain of 11 convenience stores. The stores had been owned and operated by my family for many years and his assistance and guidance was invaluable in making the sale happen. All of his hard work was appreciated and I wish the best of fortune for him in the future and would recommend Terry to anyone who is serious about selling their convenience stores.”

William Deurig

President - Buchanan Oil Company - New Philidelphia, OH

“When me and my family decided that it was time for us to exit the convenience store industry and sell our chain of 14 convenience stores we did not know where to turn. We heard a proposal from a company that had direct mailed us, but they didn’t seem like the right fit. Fortunately we heard about Terry and his company American Business Brokers through a referral from a friend of ours in the convenience store industry. It was the best thing that ever happened to our business.

Terry was deeply involved in every aspect of the transaction and managed the process from the beginning to the end. Not only did Terry and his company get the stores sold; they also got us more money that we had thought we would get. I would highly recommend Terry Monroe for someone who is wanting to sell their convenience stores.”

Terry Monroe Has Helped More Than 100 Convenience Store Owners Sell Their Business!

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