Choosing a business broker takes time and careful consideration. These tips can help you out!
Brokerage services provide tailored connections between buyers and sellers. They take some of the work out of trying to find the right buyer or seller, a process that can take many long months. At Atlantic Business Brokerage, we help connect buyers and sellers of businesses, particularly franchises such as Dairy Queen, Wingstop, Jimmy Johns, and Tropical Smoothie Cafe. If you are looking for a broker, here’s your guide on how to choose a business broker that suits you.
Specialization
The first task to accomplish is to determine what kind of business you are looking to buy or sell. Naturally, this will not be an issue if you are looking to sell. If you plan to purchase, be sure to do thorough research before looking for a broker. This step will help you choose a business broker with confidence.
Experience
Next, view the various business brokers in your niche and see what their experience and reviews are. See their success stories, years in the trade, and client referrals. Don’t shy away from asking questions if you have any. At the end of the day, your broker should be one that you trust.
The Fees
Business brokerages take a commission for their services between buyers and sellers alike. A business brokerage helps create a marketing plan for sellers and advises a buyer on how to make the smartest purchase. Do not do business with a broker who asks for the money upfront; also, feel free to negotiate the fees as necessary.
The Process
Each brokerage may conduct the selling or buying process for their clients a little differently. Ask your potential business broker about their process. What are the steps in buying or selling a franchise? Who manages your particular sale? Ask as many questions as you need.
Compatibility
Lastly, don’t forget that compatibility matters. Even if your potential business broker has stellar reviews, it might not work for you if you can’t work well with that particular broker. Compatibility could be as simple as communicating well. If it is both a reasonable decision and feels right, you are on the right track.
Buy With Atlantic Business Brokerage, Inc.
At Atlantic Business Brokerage, our mission is quite simple; we help sellers sell businesses, and buyers buy businesses! Over the past 30 years, ABBI has facilitated the sale of countless commercial properties, businesses, and franchised locations. With our unparalleled knowledge of the business purchase and sale industry and our network of contacts, we offer services to both buyers and sellers that no other brokerage firm can match. Contact us to discuss your business buying and selling goals today at 410-561-9800 or Toll-Free at 800-279-7569. Email us at [email protected], and follow us online on Facebook and LinkedIn.