Looking to buy a business? Find out what a business broker is, and whether you need one during this process.
Business Brokers- What They Do and Why You Need One
If you’ve been looking at buying or selling a business, you’ve heard about business brokers. But what exactly is a business broker?
What is a Business Broker?
A business broker may also be called business transfer agents or intermediaries. We help business buyers and sellers throughout the process of buying and selling businesses. Similar to how you would use a real estate agent when buying or selling property, you would use a business broker when buying or selling a business – they’re the experts.
While all business brokers work to assist in business sales, they are not created equal. Some simply list businesses and take a commission of the sale. But that’s not true of Emerald Coast Business Brokers. We assist buyers and sellers throughout the entire process.
What do business brokers do?
We can only speak to the services we provide, because different business brokers may provide different range of services. We use our expertise to provide guidance throughout the often complicated business buying and selling process.
If you are buying a business, we start by prescreening businesses to help you avoid bad risks. Then we work to match your interests and goals to find a business that matches your requirements. Once you find the right business, we help with negotiations and paperwork, and coordinate efforts between lawyers, CPAs, bankers and other parties.
If you’re selling a business, we help establish an MPSP Value (Most Profitable Selling Price Valuation), and then search for buyers. After listing your business, we will market your business to prospective buyers, and interview and screen those interested. While handling all negotiations, we work to get the best price possible and assist with the sale.
Why do I need a business broker?
Whether you’re buying or selling, you need a broker; it can be a complicated stressful process that you don’t want to tackle alone. The time involved in searching for businesses, doing due diligence, negotiating, completing paperwork, and other steps can be exhausting and costly. However, when you have an experienced team working with you, it lightens the load substantially.