How to Find a Business Broker/How to Work with a Business Broker
If you are considering selling your business, you have probably wondered if you should use a business broker. A business broker represents the seller in a business sales transaction, and there are lots of details a broker can help you with:
- Finding an appraiser for equipment, buildings, and inventory
- Qualifying buyers to make sure they are serious and have the capacity to buy your business
- Working with the buyer on the many details of a business sale so you don't have to
- Helping you get the best price for your business
- Providing contacts with bankers, lenders, to help the buyer complete the deal
- Analyzing comparable businesses for sale in your industry.
- Using knowledge of your industry to help assign an appropriate value for the business and negotiate industry-specific aspects of the deal.
Tips for Finding a Business Broker:
- To find someone who knows your industry, look in trade publications or industry association websites for broker advertisements or articles
- Go to the website of the International Business Brokers Association
- Check with the Better Business Bureau before you sign on with a broker.
