The easiest way to become an entrepreneur and business owner is to buy an already existing business. Buying a business can be complicated and difficult. If you’re interested in buying a business, a business broker assists buyers and sellers of privately held businesses manage the buying and selling process. A business broker is like a business matchmaking service: a professional business broker can match the type of business you want to own and your budget with someone who wants to sell a business that meets your specific needs.
Finding a business to buy, evaluating whether the business is right for you, performing your due diligence and negotiating a deal to buy the business on your own can be overwhelming. Investing in a business is a big financial commitment. A business broker can guide you through the process of buying a business, minimize your stress and help you buy the right business for you.
5 Benefits Of Using a Business Broker To Buy A Business
1. A business broker knows what businesses are for sale.
Professional business brokers have built a network of contacts who sell businesses – and they likely sell businesses also. If you want to buy a local business, an online business or a business in a different state or country, they will have contacts to help you find a business to buy that meets your skills, budget and other criteria.
2. Business brokers help you perform your due diligence.
Does the business valuation match the current market? Who are the competitors? Are there any liens or judgments against the business? What is the future earning potential?
3. Business brokers advise you on the negotiations.
Once you identify a business you want to buy, you need to agree to the terms of the sale – such as the business valuation, assets, a sales price and the seller’s post-sale obligations.
4. Business brokers help assure the business deal is legal.
If you have never bought a business before, there are many details such as licenses, regulatory documents, trade secrets or patents and other legal issues to research.
5. A business broker can help you get financing.
There are many different ways to finance the purchase of a business. A business broker can analyze the business financials and advise you on the different financing options available to you, and which option makes the most sense for your business.
- Free Checklist: 20 Questions to Ask Before You Buy a Business
- Top 7 Mistakes When Buying an Existing Business
- What You Need to Know Before You Buy an Online Business
Are you considering buying a business? Anthony Caliendo and FNBC Florida can guide you through the entire process! Give us your criteria and let us understand what you want. We’ll help you find the business for sale that meets your needs, determine if the business is fair market value, and work with lenders, and other advisers involved to get you to the closing table! FNBC Florida is dedicated to broker business sales with fair costs and high standards.
One thought on “What Is A Business Broker?”
You made a good point that when buying businesses for sale you can use a broker to help give advice for negotiations. I’ve been trying to buy a small business I’ve had my eyes on for a while and didn’t know where to start. Maybe I should talk to a broker to give me some help with getting the business for a good price.