What is a business broker and why might you need one?
“The next 15 years will be the largest intergenerational transfer of private businesses in the history of the world. 2012 marked the first year that “Baby Boomer retirement” was the primary driver of business sales in the private lower middle market. Researchers have estimated that more than $10 trillion in business assets may be transferred by 2025.” -Forbes.com
With the tsunami of sellers coming over the next decade, comes competition. Selling your business could get tricky as more and more sellers flock to exit. Beating the rush can make a big difference in getting the price you need for your business. Also, having the right broker in your corner through the process can be the difference of a successful exit, or not. LiveChat today and let’s discuss how I can help you through the beginning stages of selling.
What is a business broker? Wiki defines a business broker as: Business brokers, also called business transfer agents, or intermediaries, assist buyers and sellers of privately held businesses in the buying and selling process. They typically estimate the value of the business; advertise it for sale with or without disclosing its identity; handle the initial potential buyer interviews, discussions, and negotiations with prospective buyers; facilitate the progress of the due diligence investigation and assist with the business sale.
Business brokers generally represent the seller and have the seller’s best interest in mind. Business brokers have access to private lists of buyers that reach out to them trying to find businesses to acquire.
The BBIC – Business Broker Investment Corp – recently hosted a podcast discussing why a business owner may need a business broker. You can listen here: https://business-broker-brief.simplecast.com/episodes/what-is-a-business-broker-and-why-you-need-one
Aaron Thom, Sunbelt Business Advisors
Forbes.com quote can be found at: https://www.forbes.com/sites/brentbeshore/2015/10/11/the-small-business-crunch/#4e807fc95b49