If you have been looking into buying a business or selling your business, you may have heard the term “business broker.” Business Brokers represent owners of businesses that want to sell their business. They position the business for sale, locate buyers, and negotiate the terms of the sale. Sometimes they are also referred to as Business Sale Brokers or Sell-side Business Brokers. Most of them represent the seller, however, some represent buyers in which they can be referred to as a Buyer’s Broker or Buy-side Broker.
Finding the right Business Brokerage firm is a great first step in selling your business. But before looking into top business brokers, you should understand a little bit about what a business sale broker does. Once you know what to expect, you will have a better idea of whether you think a broker will work for you and which is the right business broker to choose.
How Business Brokers Work
Think of a business broker as a sales team for your business. Just as real estate brokers have the information and contacts to sell your home, a business broker has the information and resources to sell your business. There are some definite differences, however, between selling real estate and selling a business.
- One of the differences is that when selling a business, confidentiality is important. You don’t want customers, employees, or competitors to find out that your business is for sale. Business Brokers will protect your confidentiality during the sales process.
- Another difference is the financial information of a business. You need a broker that understands profit and loss statements, reviewing tax returns and how to analyze and present the financials.
- Positioning: You need a Broker that knows how to write a summary document that will position the business to attract potential buyers without giving away the identity of the business.
- Marketing: Experienced Business Brokers know how to market businesses to potential buyers that are looking to acquire a business.
Unlike realtors and business owners, experienced business brokers are only focused on selling businesses and have all of the necessary skills to lend their expertise to the unique issues of selling a business. They can help you set a reasonable asking price that takes into account the value of your business and the state of the market. They can give you advice and guidance on how to present your business to make it attractive as possible to buyers. They can also use their network to connect you with the most motivated buyers and investors to give you the best chance at selling your business fast and at a great price.
You can expect to sell your business much more quickly when using a business broker than if you try to sell it on your own. You can also be confident you are selling at an appropriate price, and the higher price you secure with their expertise can pay for the cost of the broker. Using a business broker is an efficient, low-stress way to sell a business.
There are are a lot of complex issues that an experienced business broker can guide you through such as will your company be sold as an asset sale or stock sale? What price should I ask for my business? And what buyers are most likely to buy my business?
Contact Synergy Business Brokers to Sell Your Business
We represent sellers of companies with annual revenues between $700,000 and $40 million in industries including manufacturing, construction, distribution, healthcare, and technology. We can advise you about the things that make your business particularly attractive to buyers and the red flags you want to be careful to avoid. To view our corporate video please view Business Broker Overview.
Synergy Business Brokers has been successfully selling businesses since 2002 in areas like NY, NJ, CT, MA, PA, MD, TX, NH, LA, OH, VA, DC, and throughout the US. We are members of international and local business broker associations and know what motivated buyers are looking for and how to reach them.
We are highly confidential while negotiating your sale and you don’t pay anything until you sell your business. To begin positioning yourself in the best possible way of selling your business, just Fill out our contact form or call (888) 750-5950.
This article has given you an overview of the answer to the question: “What is a Business Broker”, but I’m sure you have many more questions that we’d be happy to answer for you with our confidential consultation. There is no fee for our services until your business is sold.
Since we only focus on certain industries, we aren’t the right fit to sell every business. You can read some tips on selecting the right business broker for your company. You may also wish to read our articles on: What is the difference between Business Brokers and M&A firms and Should I sell my company myself or hire a business broker?
Buying a Business
If you are interested in buying a business please view our Businesses for sale. To view based on industry, please click on the industry of interest: distribution, construction, manufacturing, technology, healthcare, services, engineering, contractors, transportation.
When you have found a business that you are interested in, please fill out our online NDA on the listing of interest and provide us with some information about you and we will follow up with you. They will discuss the listing of interest, answer questions and see if you may be a good fit to purchase the business.