Divestopedia - Sell your business on your Terms

In Florida, there is so much competition among business brokers, up-front fees are usually taken by scam artists who are looking for a quick paycheck.  So, irrespective of the fee, think of these things when hiring a business broker to sell your business.

"Takeaway: Not all business brokers are created equal. Before you hire one, find out how what the good ones do to consistently make the sale and earn their fee.

I talk to a lot of company owners who have sold their business using an investment banker or business broker. I always ask them how their experience was. It seems the answers are always either extremely positive or negative. It's either "we could have never sold our company without the help of our broker," or "it was completely useless, I could have done it myself."

As a buyer, I feel the same way. We have worked with business brokers who are extremely good at managing the transaction, and ensuring their client gets the best deal possible. We have also worked with some that seem to disappear after the letter of intent is signed, or worse yet, get in the way of getting a deal done. Business brokers are an important part of the transaction process, and we have done more broker-represented deals than not, but it can be downright painful for the buyer and the seller when the wrong broker is selected."

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For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.