What can a business broker do and what can’t they do?
If you’ve ever bought or sold a home, then chances are you’ve worked with a real estate agent. You can think of a broker’s role being very similar to a real estate agent, however, the broker is helping you buy or sell a business, a more complex endeavor.
Brokers can play a very valuable role in the process as they provide guidance, advice, and other resources that can save you precious time and money in making the transaction happen. Brokers are well connected with finance professionals, accountants, attorneys, and other professionals who may be needed to facilitate the sale.
For sellers, business brokers can put together the marketing package, help determine the appropriate price for the business, and do all the leg work necessary to market the business for sale. However, a business broker is not a magician who can sell an overpriced business. Most businesses are saleable if priced and structured properly.
For buyers, a broker can present to them motivated sellers and opportunities that meet their particular skills set, passions, and financial objectives or goals.