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 and help 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 “TRUSTED AUTHORITY” in the value and process of business transactions.

As a Business Broker, you are in a profession that allows you to help folks with some of their biggest decisions; Buying and / or Selling a business.

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? You are always learning.

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 1 year.

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. There is no “Heavy Lifting”. 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: People like to deal with people that they like and “TRUST”.

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 2017 was $227,880; this would generate a sales commission of between $22,788 and $27,346 for the average broker.

A more educated buyer, seller, and business broker is a more successful buyer, seller, and business broker.
-Ed Pendarvis