Are you planning to sell your business? Or are you looking for a new business opportunity you can invest in? If you are, then you should use a business broker to help you search for a buyer or a seller, as well as facilitate the transfer and purchase of a business.
Business brokers, also known as business transfer agents, are persons or firms that facilitate the buying and selling of other businesses. The job of a business broker usually involves determining the value of a business, advertising it to prospective buyers, and facilitating the discussions and transactions between the buyers and sellers.
For business sellers, a good broker helps you sell your business at a higher price. A great business broker will determine the difference between simply settling a transaction to cutting a great deal where you acquire the maximum value of your business. Finding a good business broker is actually not that difficult.
First, you can consult the International Business Brokers Association (IBBA). With the assistance of this trade association, you can find a certified business broker. You can also ask for referrals and recommendations from trustworthy sources that have first-hand knowledge of the business brokerage industry.
When choosing a certified business broker, there are some important criteria you should keep in mind. Investigate the broker’s background, credentials and previous experience. If there are complaints and legal actions filed against a broker, you may check on the circumstances surrounding these through the Better Business Bureau.
A full-time business broker is a preferable choice. You should also scrutinize the discretion of the broker you are considering. Selling a business is a very private matter, and you want to avoid any negative effects, especially with employees and suppliers.
Looking for a certified business broker can be difficult, but it is definitely worth it if you find a broker that can maximize the value of the business you are selling to ensure a smooth and hassle-free transaction.