Selecting a Business Broker | Sales Negotiation Training

Selecting a Business Broker | Sales Negotiation Training

by Pro Sale Man on July 15, 2010

Many small business owners realize that when it comes time to sell a business, they must rely on the services of a professional intermediary to help them. This article will cover some of the attributes to focus on the choice of a professional licensed brokerage operations intermediary. To sell a business in Florida, a person must have an active real estate license. In Florida, are licensed under the Department of Business & Professional Regulation.

If the person you are going to use is not properly registered to sell a business, find someone who is. It is recommended you find a business broker who has extensive experience in selling businesses like yours. There are many nuances to a business for sale, someone who has been involved in various operations and we can properly discuss the business operations on your behalf. You also want an intermediary who is comfortable working with your lawyer or accountant.

A respectable professional should not only have no problem with that, but in reality many have difficulty working with other professionals. Don't afraid to ask for references of people whose businesses have been sold by the broker. A competent Business Broker should be well trained and be able to provide good advice on financial analysis, business evaluation, marketing and sales, trading and strong people skills. Many of these skills can be built through a top MBA program or degree in professional accounting. The soft skills such as sales and social skills are something you must evaluate yourself when you first meet.

An agent may have great skills in the corporate world, but not very strong when it comes to your entrepreneurial world. You likely understand both. Make sure the intermediary you choose to work with provides a thorough overview of the process. You want advice not only on price but also on many other issues related to the sale, for example, the concept of seller financing is important. It is much more difficult (and in some cases impossible) for the sale of a company without offering a degree of seller financing.

Make sure you understand what to expect and what methods the intermediary will use to find a buyer for your business.

Tagged as: business broker, business sale, selling a business, small business