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Finding a Good Business Broker
July 31, 2008
A business broker is similar to a real estate agent. Business brokers provide the match making service of bringing together buyers and sellers of businesses. Four tips to finding a business broker:
- One best practice is to always get a referral from a trusted source. Ask your accountant, lawyer, peers, and industry association for names of good business brokers.
- Examine your broker's background, experience, and credentials. Are there any lawsuits or complaints against them? Investigate their references. Have they handled sales of your type of business before?
- A business broker fee ranges from 10 to 15% commission of the sale price of your company. Avoid any broker asking you for a large, upfront fee to assess your business value or start an application process.
- Never allow your business broker to put you in a pressure situation.
Posted by Shanu Singh Guliani on July 31, 2008 | Comments (1)
