Business Brokerage

The really successful people in business brokerage have a passion for what they do.  They love getting the opportunity to help others achieve their opportunity.
-Wit & Wisdom

What is Business Brokerage?

A business broker is a professional who assists in the buying and selling of businesses, helping to connect buyers and sellers while also acting as an intermediary throughout the process.

The assistance provided by a business broker covers a wide variety of tasks including:

  • helping buyers determine what type of business they are looking for
  • helping sellers prepare their business for sale
  • helping buyers find businesses that meet their criteria
  • helping sellers arrive at a value for their company
  • helping buyers analyze a business for sale
  • helping select other members of the sales transaction team
  • developing a marketing plan for sellers
  • preparing necessary documentation to market the company
  • identifying prospective buyers
  • interviewing, qualifying and informing prospective buyers
  • attending meetings and completing paperwork
  • negotiating details
  • managing the due diligence process
  • coordinating closing activities
  • and much more

 

The ideal candidate to become a Business Broker would have the following skills or characteristics:

  • Desire to work with a wide range of people
  • Good organizational and time management skills
  • Sales experience
  • Creative thinking
  • Knowledge of financial statements and interpretations
  • A degree in business or related discipline is helpful
  • A desire to learn continually
  • Strong work ethic
  • High level of integrity and character
  • Desire to help people and solve problems
  • Prior business ownership experience is a plus
  • Prior experience with either buying a business or selling a business is a huge plus

 

Advantages of being a Business Broker

The work is fun — “Hunting” for a living is never boring. It is on the opposite end of the scale of jobs that require you to go into the office every day. Did you ever meet a hunter who got bored?

Independence – You manage your schedule for daily activities, vacations, days off. Most of us figure out how to juggle our schedule between prospecting, clients and family lives.

Lucrative – Business Brokers who stay in the profession, make great money. It is reasonable for a Business Broker to target around $100,000 per year after 2 years

Limited nights and weekends – We provide a Business-to-Business service to clients who have normal business hours.

Long term – This is a profession that grows better with gray hair. As long as you have the energy, age is not a problem. You won’t need to look for another profession when you are 60 since gray hair is an advantage.

 

Why should you consider joining the Business Brokerage profession?

Large market opportunity:

Did you know that there are approximately 25 million businesses operating in the US currently? It is estimated that nearly 1-2% of all businesses look to exit by selling their business to a new owner each year. That’s approximately 250,000-500,000 businesses that could be listed for sale each year.

Not Much Direct Competition:

Did you know that there are less than 4000 full-time business brokers operating in the US currently? Compare this to the 75,000 commercial real estate agents or the 400,000 residential real estate agents operating in the US.

Competitive wages:

Did you know that the average business broker collects a commission of 10-12%? Per BizBuySell’s Quarterly Insights Report, the Median sold business transaction price during Q4 2014 was $180,000; this would generate a sales commission of between $18,000 - $21,600 for the average broker.

The really successful people in business brokerage have a passion for what they do.  They love getting the opportunity to help others achieve their opportunity.
-Wit & Wisdom