The internet is awash with horror stories of business owners who thought they had made the right choice of business broker to help them sell their business, but ended up deeply regretting the decision as a very, very expensive mistake. In worst case scenarios not only did the brokers prove completely ineffectual at selling the business but they also persued the business owner for tens of thousands of pounds and held the owner personally liable for 10% of the original business valuation! Newspapers like the Daily Mirror have been running campaigns exposing the more dire stories. [Example]
Do you even need business brokers to sell your company? Can a broker really add significant value to your business pre-sale? How do you protect yourself from making a bad choice? That’s where we come in. We’ll answer those and hundreds of other questions. More impotantly we’ll arm you not only to ask the right questions, but to vet brokers, to negotiate your contract with them, to ensure your broker prioritises your business and ensure you get maximum value for it. Our advice can save you tens of thousands of pounds (and possibly more) and help you get a substantially higher price for your business.
Various articles on this site – see the right column on this page -and our free ebook provide you with information simply not available anywhere else.
What are business brokers?
Business brokers go by many names – Brokers, Business Transfer Agents and Commercial Real Estate Agents are the most common. Higher value businesses will likely be dealing with Investment Bankers, M&A Consultants, Acquisition and Merger Specialists etc. Essentially they all exist to sell your business while you continue to work at running your business.
Regulation of brokers: Unlike in the US, there isn’t any regulation of business broking activity in the UK! But this is just one reason why there are so many complaints about brokers.
What does a good broker do?
What a good broker does for a particular seller varies widely depending on the fees being charged, the fee structure, the capabilities within the firm and the terms of the contract. More details on this page.
A good broker’s assistance can net you a much higher price for your business, a price that more than covers broker costs. But if you’re thinking of using a broker you can’t afford to NOT read our book. Get a couple of sample chapters for free: click here.