A business broker is a trained professional who helps people buy and sell businesses. Depending on the state, a business broker may possess a license to broker. Business brokers will estimate the value of a business, advertise it, and conduct interviews with potential buyers.

If you have ever bought or sold a home, then chances are you have worked with a real estate agent. You can think of a broker’s role being very similar to a real estate agent, only the broker is helping you buy or sell a business, which is a much more complex endeavor.

Brokers often play a very valuable role in a business selling and buying processes, as they provide guidance, advice, and other resources that customers may need to make the transaction happen. Business brokers typically have years of training and experience in buying and selling small to medium sized businesses, and can therefore provide expert guidance that can save people precious time and money.

Brokers are well-connected with finance professionals, accountants, attorneys, and other professionals who may be needed to facilitate the sale. For sellers, business brokers can put together the marketing package, help determine the appropriate price for the business, and do all the leg work necessary to market the business for sale. Even before the business is put on the market, brokers can provide very useful advice to properly prepare the business for sale. For the buyers, a business broker can present them to motivated sellers and opportunities that meet their particular skills set, passions, and financial objectives or goals.

Business Broker Commissions
Brokers usually work on a commission basis. Generally, the commission is 10% of the sales price of the business, although this can vary. This commission, as is customary in the real estate arena, is typically paid by the seller.

Because of the time and expense involved in going through financial statements and other information to prepare a marketing package and place a value on the business and to assist the seller in determining a fair asking price, along with confidential marketing and other expenses, some business brokers may charge an upfront fee.
Selecting A Business Broker Tips

Like any profession, there are good business brokers and “not so good” brokers. In terms of picking your business broker, below are some basic tips that may help you in your selection process.

First, interview potential business brokers. Meet with them face-to-face. Chat with them about their experience, training, areas of expertise, rates, their connections with other professionals in the industry, etc.
Second, ask for references. A good business broker will almost assuredly have pleased customers who would be willing to provide a testimonial of their good work.

Third, review the resume and credentials of your potential business broker. Ask questions like: How long have they been a broker; Do they have any professional certifications; Do they specialize in a particular industry; and how many total transactions have they done, etc. For business broker services with over 30 years of valuable experience contact Bottom Line Management, Inc. located in Atlanta, Georgia, and
found online at https://www.botline.com

or by phone at 470-990-0160. The business broker pros at Bottom Line Management, Inc. will help a business to truly understand the inner workings of their business and truly enjoy business success. For fully comprehensive business brokerage services, contact Bottom Line Management, Inc. today — found online at https://www.botline.com
and telephone 470-990-0160.