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Archive for 'Dealing with Business Brokers' Category

What Should I Look For In A Business Broker?

By Hoke - Last updated: Thursday, July 22, 2010

Selling a business is a personal effort with a complex product (The Business). An experienced Business Broker has the ability quickly size up your business. He can explain what factors make your particular business successful and desirable in terms of the Business Buyer.  You should ask the prospective Business Broker; “What makes my business attractive […]

How Many Months Should The Exclusive Representation Agreement Be?

By Hoke - Last updated: Thursday, July 22, 2010

An Exclusive Representation Agreement is a written contract which can be difficult to rescind so the Business Seller must be careful with Business Broker selection. The length depends upon the length of time the Business Broker estimates it will take to sell the business, usually six to twelve months. A Business Broker who is confident […]

Is an Exclusive Listing necessary?

By Hoke - Last updated: Thursday, July 22, 2010

A high quality Business Broker views the Representation Agreement as a commitment that he will do the best he can to get a listing sold. The Business Broker makes a time and financial investment in Listing. The Business Broker has a right to expect a commitment from the Business Seller.

Does my Business Broker need to have experience with my specific Industry?

By Hoke - Last updated: Thursday, July 22, 2010

Ultimately a Business Broker is selling an investment. So it is better to be represented by a Business Broker who is highly versed in the financial issues regarding the Business-For-Sale rather than one who understands the specific industry but is not an expert in the financial issues. In the rare case that the Business Broker […]