Article by AZ Big Media, published on September 1, 2020.
You may have heard of the term ‘business broker’ before, but what does it actually mean? Is it possible that a broker could help you and your business?
When it comes to answering the question, ‘what do brokers do?’, not many people know, so you may be surprised to learn at how useful they can be!
To learn more about business broker benefits, keep reading to learn how they can increase your profits and help your business.
What Do Brokers Do? Sell Businesses
In simple terms, a business broker is someone who sells businesses. Broker, by definition, is someone who buys and sells assets or goods on behalf of others.
Over 10,000 businesses were sold last year in the US, many done with the assistance of a broker.
If you’ve ever bought a home, you know how real estate agents work, so you can think of brokers as being similar to real estate agents, but for business instead of houses.
No matter what you’re selling, marketing and promotion is important to attract customers. But how do you market a business to potential buyers?
This is something brokers specialize in—they can advertise your business specifically to those looking to buy, making sure you get noticed.
Brokers will first value your business, an important step in working out how much it’s worth and helping maximize your profits. Then, they will develop a tailored marketing plan to help your business sell.
Handle the Legal Side of Things
A sale of a business is complex when it comes to the paperwork side of things. A business broker will expertly handle the legal aspects of the sale, which can be complicated, especially when businesses span across state lines or are international.
There are quite a few reporting and regulatory requirements for sales of business in certain industries, so you should use a business broker to make sure the transfer from seller to buyer goes as smoothly as possible.
Benefits of Business Brokers
You may be thinking that it’s easier to just sell a business yourself, but that couldn’t be further from the truth. Using a broker gives you access to many benefits that you wouldn’t have on your own.
A broker will do all the legwork for you when it comes to vetting potential buyers, so that you don’t waste your time. They can also sell your business with confidentiality, help you close the sale faster, and they also have access to databases of potential buyers that you wouldn’t have as a private seller.
Sell or Buy Your Next Business with the Help of a Broker
What do brokers do? Quite a lot! Now that you know more about how brokers work with businesses, find one near you for expert help with selling or buying a business.
With a broker by your side, you’re sure to earn higher profits for your sale and get the process done as easily and quickly as possible. Get started today and see firsthand the advantages of working with business brokers!
If you are looking for a business broker to help you buy or sell a business, contact me at:
Steve Niehaus, MBA, CBI