Business brokers have a very important role to help business owners buy or sell their company, but not many people know exactly what they do! They do more than simply sell a business, as they help to facilitate the sale of the business. Continue reading to learn more about the profession and why you need to work with a business broker when buying or selling a business!
Duties and Responsibilities
- Business brokers are responsible for various duties, including:
- Pricing a business with an accurate and professional valuation.
- Writing an offering summary or a confidential business review. This report becomes one of the most important marketing tools for the offering of a business and is provided to interested buyers after they have signed a confidentiality agreement that is qualified by the broker.
- Marketing the business to the best possible audience while maintaining strict confidentiality. Unlike real estate agents who will put a sign in front of their properties and advertise the specific location to anyone, business brokers look for certain buyers who they believe will be a good fit. Business brokers are trained to maintain confidentiality throughout every step of the sale.
- After insuring confidentiality agreements have been executed, they will introduce reliable potential buyers to the business.
- Organizing and facilitating meetings between the seller and potential buyers.
- Writing offers to purchase the business and handling all negotiations between the buyer and seller after an offer has been made.
- Facilitating the due diligence investigation which is a critical step
- Assisting the buyer in obtaining business acquisition financing.
- Facilitating the closing of the deal.
The Atlantic Business Brokerage Mission
Atlantic Business Brokerage provides a variety of services, but our primary focus is to help franchise owners discreetly buy and sell franchised businesses. We have extensive experience (over 30 years) facilitating the sale of countless commercial real estate properties, small and large businesses, numerous major franchised locations, and we have hundreds of highly satisfied parties.
Buying and Selling 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.