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What is a Business Broker?
A Business Broker is an intermediary dedicated to serving a SELLER and a BUYER who desire to sell or buy a business.
A business broker is closely associated with a real estate agent. But, unlike real estate agents who sell, homes, commercial space and leases a business broker is an expert in selling existing businesses and franchises.
Simply put a Business Broker Sells Businesses.
A Business Broker is an intermediary dedicated to serving a SELLER and a BUYER who desire to sell or buy business. A Business broker responsibility should include. Confidentiality is a KEY COMPONENT. Securing all communications regarding your business with strict NDA documents provides the highest levels of confidentiality, to protecting your company, its' assets, credit, and marketability.
Another key component is QUALIFIED BUYERS - A Business Broker should fully qualify buyers by experience, financial ability, and credit before they have access to any information about your company. A Buyer's background, qualifications, experience, financial resources, and references should be examined.
A Business Broker can provide you with listings and information on businesses that are available for sale that you would not discover on your own.
A Business Broker can be "used" as the "bad guy". In the negotiations with a seller you should let the broker deliver any bad news or commentary that you may have. The reason for this is because you are going to need the seller's help in completing the deal and afterwards you will need the SELLER's help for training and assistance.
A business broker is important for closing business deals efficiently and to the satisfaction of both buyer & seller. The broker earns a commission for each sale he facilitates.
A Business Broker will provide buyers and sellers all of the necessary information needed to close on businesses for sale. The business owner can focus on running their business while the business broker manages the entire sales process. In business, time is money and the broker can save a lot of time for his client.