What Services and Value are provided by hiring a business broker? Many but it is important to list them out and know the limitations of what a business broker can and can not do.
The laws governing business brokerage vary from state to state and country to country, Here in Florida business brokers are required to be licensed Real Estate Professionals. But the training and skills used in business brokerage are vastly different from Real property transactions.
Here at Transworld Business Advisors we provide the following services:
– Valuation
– Preparation for Sale and Packaging of Business for Sale
– Confidential marketing of Business for sales
– Negotiation
– Coordination of Principal Parties in preparation for closing
– Support in back office transition: Licensing, Merchant Services, Supplier / vendor on boarding
– Buy Search Support
– Financing Search Support
– Franchising
– Due Diligence Support
Take note that financial analysis and legal support are not services we provide. Although skilled in some areas of these disciplines given the sheer volume of transactions we have participated in a educated buyer should recognize the fiduciary roles and risks associated with counsel in these disciplines. If you have a business broker becoming an accountant in their representation or giving legal advice you should probably question your choice of broker.
A business broker acts as a facilitator and navigator and the thin line between legal and accounting must by held. We can support those disciplines buy buyers and sellers are advised to get competent professionals in those respective disciplines.
All too often (especially when dealing with expats) we encounter brokers functioning as ‘fiduciaries” much to the detriment of the customer.
As always be educated and choose your advisor wisely.
From a Value Standpoint. A seasoned professional with hundreds of transastions and a reputation for skilled negotiation and honesty is well worth engagement. The time and resources both monetary and otherwise are significant when selling or buying. Going it alone without a advisor who knows the proper steps and methods is much like fishing without a seasoned guide or captain. Your odds of success go significantly up when you hire the best.