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Tips for Finding the Best Business Broker

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Tips for Finding the Best Business Broker

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  1. Tips for Finding the Best Business Broker

  2. Get referrals If possible, always start with a referral from a trusted source. Ask your accountant, lawyer, peers, and industry association for names of good business brokers.

  3. Use IBBA The International Business Brokers Association is a nonprofit trade association that offers education, networking, and professional conferences and otherwise. It's also a good resource for finding brokers who are in your area and familiar with your type of business. IBBA works with more than 1,000 business intermediaries around the world. training through

  4. Do due diligence Just as a prospective buyer of your company will exercise due diligence, so should you. Examine your broker's background, experience, and credentials. Are there any lawsuits or complaints against them? Check the Better Business Bureau. Investigate their references. Have they handled sales of your type of business before?

  5. Find a dedicated practitioner A business broker who spends all of their time selling businesses will add more value to your sales transaction than a part-time agent. A full-time business broker brings in a network of contacts and typically has a fuller understanding of the principles of business valuation. Find someone who is dedicated to the profession.

  6. Keep it a secret Avoid losing key staff and suppliers by telling them your business is for sale. It should be a highly confidential matter. Your business broker safeguards are in place to protect your company. One premature word to your suppliers, employees, or customers that you are selling the company can have repercussions on your business operations and any potential sales. should ensure all

  7. Deliver a marketing plan Selling your business is all about marketing. Properly positioning the sale of your company to attract and motivate as many buyers as possible should be your goal. Ensure your business broker has a marketing plan including details of advertising strategies to attract a wide range of potential buyer leads.

  8. Avoid large upfront fees A business broker fee ranges from 10% to 15% commission of the sale price of your company. Avoid any broker asking for a large upfront fee to assess your business value or start an application process.

  9. Address 38 Dan Leckie Way Toronto, ON Ontario Canada Toronto, M5V2V6 Talk to us Call (416) 342-0213 Website www.ilevelmanagement.ca/

  10. Thank You!

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