Small Business Broker

A small business broker can really make a major difference when it comes to buying or selling a business. Much like a real estate agent, a small business broker has insider information that most business owners are not privy to, and he or she can help you negotiate the sale of a business to satisfy both sides of the equation.

Locating the Right Small Business Broker to Start the Purchase Process

There are several ways you can find a small business broker:

• Check with the International Business Brokers Association (IBBA). This organization not only lists members who meet certain criteria, but it also offers its own certification and education courses.
• Refuse to work with any professional who asks for more than 15 percent of the total sale.
• The sale of your small business should be kept private to minimize the loss of essential staff during the transition. Be sure your broker is discreet.
• Investigate the broker’s background. Just as you would investigate a broker if he or she were to help you negotiate a lease, knowing the experience of a broker for the sale or purchase of a business is even more important.
• Develop a marketing plan. Buying and selling a business is much like conducting business itself. Make sure your broker has a clear strategy in mind once you move beyond the consultation stage.

For more information on hiring a small business broker, or to learn how to start a business and negotiate a lease, give the consultants at a call.