Broker For Buying A Business
Intermediaries can choose to represent clients in selling and buying businesses. They are often paid by a success fee (also known as a commission), which is based on a percentage of the sale price of the business.
broker for buying a business
Having a quality broker is invaluable. They have to have knowledge about a tremendous number of things, from creating marketing materials to navigating the SBA 7(a) loan process. The value they add throughout the process of selling a business should far exceed their fee.
If the owner diverts his/her energy to selling their business, those important responsibilities could be abandoned, reducing the selling price of the company and/or creating added stress for an owner.
Quality intermediaries know how to sell businesses and will not shy away from giving sellers accurate expectations, such as how long it will take to sell, or what price they think a business could sell for.
If your company is in the $1 million-$25 million purchase price range, make sure your broker/advisor has experience in selling companies to both individuals and private equity groups or strategic buyers.
Even though the intermediary represents the seller in a transaction, once a buyer and seller agree to an offer, often the broker will spend most of their time with the buyer to complete the transaction.
Jim Peddle is a Chicago based business broker. As the founder of Playbook Advisory, Jim assists business owners who seek to either buy or sell a privately held business. Lower fees with a higher level of customer service is the Playbook mantra. Call us for more information.
What sets Business Exits apart from its competitors is its depth of experience. The company is led by a team with vast experience as entrepreneurs. The team will guide you through the entire selling process with insights and advice only acquired through decades of experience running, buying, and selling businesses of their own.
I really like Business Exits because they go above and beyond brokering the deal. Once you come to them with an interest in selling your business, they do everything in their power to ensure you get maximum value.
The brokerage has a relationship with exclusive and private buyers with more than $668 million in cash ready for business acquisitions. Over 70 percent of closed deals go to buyers in the Business Exits buyer database.
Interested in buying a business? Buyers can browse listings on Business Exits and register for updates to get notified by email whenever a new business gets listed through the platform. Business Exits will even help arrange financing for buyers.
Woodbridge International accomplishes this with a unique auction that establishes a closing date from the beginning. The way the auction gets run is designed to attract multiple buyers and create a bidding war for your business.
As a prospective buyer, Synergy Business Brokers has everything you need to help narrow down your search. The website has a smart filter that allows you to search for businesses based on asking price, revenue, and net cash flow.
Founded back in 1978, Sunbelt Business Brokers claims to have sold more businesses than anyone else in the world. They have solutions for buyers, sellers and work with companies across a wide range of industries.
They provide an extensive range of services for buying, selling, and leasing commercial real estate through a vast professional network. Calhoun Companies helps sell retail space, commercial offices, and industrial properties.
As a seller, you want to look for services that will help you get competing bids and maximize the sale value. Buyers should look for brokers with lots of businesses for sale at a fair price, with tools for narrowing the search.
The success of our clients is assured by following a proven process that works. This process will result in the sale of your business as it has for scores of clients who have trusted us with their most important asset.
Gregg Kunz with Rocky Mountain Business Advisors willingly accepted our unique and targeted asset sale when other brokers walked away. Gregg planned and executed every phase of the process perfectly and professionally and we got the desired outcome that we were seeking! I would absolutely recommend Gregg to anyone that is looking for a broker
Gregg provided invaluable advise as I was preparing to sell my business. Glad I sought him out! Helped navigate around some potholes I would have fallen into during the process that would cost me money. You need him - a seasoned pro
I bought my first company with the assistance of Gregg Kunz. He offered great advice and asked me the tough questions to make sure the business I purchased was the right fit for me. I would recommend Gregg's services to anyone looking to purchase a business. He always has your best interest in mind.
The California Association of Business Brokers is a professional trade association whose members are actively involved in assisting their clients in selling, buying, and evaluating businesses. Learn More
Purchasing a business can be a life-changing decision. There are many aspects to consider and hiring a CABB business broker to help navigate through this process is critical. They are trained to assist buyers in making sure all areas of the transaction are addressed and that the transfer of ownership is successful. CABB Business brokers also have access to a large inventory of businesses for sale and can be a valuable tool in identifying the right business to purchase. Click here to see our business listings.
We typically take an assignment for an initial period of 90 or 120 days. Yes, identifying target businesses and negotiating one or more purchase agreements generally takes much longer than that, we limit the original engagement period to give our clients the ability to terminate their agreement with us if they are displeased with our performance; and we want that same flexibility. The initial period can always be extended.
We do not base it on the value of the deal so that it is clear to our client that we have no incentive to keep the acquisition price any higher than absolutely necessary. We also explain to the client that, using this approach should result in the acquisition price reflecting the fact that the seller either will not have to pay any commission at all or that the commission the seller committed to pay a broker will be cut in half, benefits that accrue to our client.
Can business buyers actually get full representation from a broker? With 70% of all California brokers not cooperating with each other it may be a good idea to have someone on your side representing your interests. Is buyer representation a reality? ProIntermediaries discuss this topic on BizBen.
Building your own business is hard work. That's why many entrepreneurs choose to buy an existing business rather than starting from scratch. But how can you avoid sinking all your resources into a business that is sure to fail? What should you look for? What should you avoid?
This article will help you evaluate the advantages and disadvantages of buying an existing business, as well as provide you with some tips that should help guide you as you make what is bound to be one of the most important decisions you will ever make.
There are several advantages to buying an existing business as opposed to starting your own. Most obviously, you save time. Suppose you want to start a retail business. It may take months for you to build an adequate inventory. Opening your own restaurant means creating your own recipes and menus; building a manufacturing business from scratch can take years. But when you purchase an existing business, the "dirty work" has already been done.
If the business you want to buy offers a product or a service, you can evaluate the operating history and better understand the demonstrated market. Are people buying the product or service? What are they willing to pay? What type of advertising has been most effective? When you start your own business, it can take many years of trial and error to establish your market. Purchasing a business can alleviate this process.
Buying an existing business will allow you to evaluate its cash flow and operating expenses, giving you a better idea of how much investment capital you will need. When you start your own business, these numbers are much more difficult to estimate, and investors consider start-up businesses higher risk than existing ones with operating histories and proven track records.
Perhaps the biggest advantage to buying over starting a business is the existing business's potential. You may see growth opportunities the current owner doesn't, or maybe you have a superior business plan. Your enthusiasm and excitement for the business can revive it and help it to grow, and often relatively minor changes in advertising, personnel, or procedure can greatly improve profitability.
Of course, there are disadvantages to buying a business, and you must weigh them seriously against the advantages. For example, unless you plan to replace all of the existing staff, you will have employees working for you whom you did not hire and whom you do not know. They may be resistant to the changes that you make. You may find it difficult to motivate employees who have become complacent under the old management, or that there are personality conflicts between new and existing employees. 041b061a72