An experienced and competent Business Broker or Intermediary can make the difference between selling and not a business. Here are five qualities or ways to help find the Business Broker or third party to represent you in selling your business or helping you buy a business or franchise.
1. Trade Association memberships
Accreditations are good; keeping up with the accreditations is better.
To see if a Business Broker is a member of their industry association, check the International Business Brokers Association at IBBA, the California Association of Business Brokers at CABB, the M&A Source at M&A source or find an organization or chapter of a brokers association in your state.
2. Communication
Selling or buying a business requires dealing in financial, legal, industry, and other forms of jargon. Are you able to communicate easily and clearly with your Business Broker and understand what they are talking about?
3. Network of professionals
Selling a business often brings together different professionals such as Accountants, Attorneys, Property Management Companies, Landlords, Escrow officers, Appraisers, Tax Agents, Lenders, Franchisors, and Financial Planners. Does your Business Broker have professionals he can introduce you to if your business requires that expertise?
4. Testimonials from past clients
What do past customers have to say about the services of the Business Broker?
5. Ability to assist a buyer with finance
Most sellers do not wish to carry any finance or they wish to carry as little finance as possible.
Is your Business Intermediary able to introduce you to finance professionals who would provide a loan to a qualified buyer?
Are you thinking about selling your business? Would you like to know the value of your business? If you would like more information please visit my website Business valuation.
For more immediate help you are welcome to send an email to Andrew Rogerson or give me a call on 916 570-2674.
