Sell Your Business 101: Choosing the Right Business Broker

Choosing the right business broker isn’t difficult, but will require research from your part.  As a business owner, you want your business broker to represent you and your company correctly and in a professional manner.  Brokers are an essential part of selling your business.  Below is a list of the most important questions to ask when you’re searching for a broker.

5. Do you have relationships with attorneys, accountants, etc.?

To determine a worthy business broker, one must see who they do business with.  A broker can be great in pitching the business, but the attorney they associate with may cause the deal to fall.  The process of selling a business has many variables that can cause a deal to crumble at any given time.  Business Brokers like Rockrose Realty has top-notch partners that will work together to get the job done.

4. How and to whom will you market my business?

Many business brokers has their own database of potential clients currently in the market to purchase a business.  If the business broker you want does not have this network, take caution.  This should not necessarily turn you away from a specific business broker but understand that this individual or company may still be building up their reputation.

3. How long have you been in business?

The longevity of how long your business broker has been in business proves many things.  For starters, it demonstrates that your business broker knows what she/he is doing.  Also, we recently lived through a modern day recession and if a business broker can survive that, then you are in good hands.  It also demonstrates that your broker is reliable.  A broker who switches companies periodically shows you, the buyer, that the broker is unstable.

2. How many listings do you have?

Just like a car dealership, a business brokerage is all about the numbers game.  The more listings that a broker is promoting, the wider the audience is.  The quantity of interested parties increase dramatically and your business will receive a lot more exposure.  Weather it be regular listings or visa qualifying businesses, your broker should have more than just yours.

1. How many businesses do you sell in a year?

There are a couple affiliations and associations that track business sales and having a top business seller on your team is incredibly beneficial.  There are many Orlando business brokers who are top producers but only a select few who are awarded for being  extraordinary.  Choose extraordinary over mediocre!

“To succeed in life, you need two things: ignorance and confidence.” -Mark Twain

 

 

Follow Me

Susan Barnes

Broker, Owner at Rockrose Realty
Susan Barnes has been serving the community in General Real Estate Sales, Business and Commercial Sales, for over 20 years.
Follow Me

Translate »