If you’re considering selling your business, then you may need to hire a business broker. BizBuySell has the largest online business broker directory, but how do you choose the right one? Andrew Cagnetta is CEO of Transworld Business Advisors, one of the largest firms offering business brokerage, mergers and acquisition, and he gives his perspective on what to look for when choosing a business broker.
One of the most important things is a history of success. Not only do you want a broker who can prove to you that he or she is skilled at closing a deal, you also one who’s skilled at marketing a business to a large pool of potential buyers while also keeping it confidential. Not as easy as it sounds.
Is it necessary for a business broker to have specific industry experience? According to Mr. Cagnetta, for businesses with under $2 Million in annual revenue, industry experience is not the most important thing. It’s much more important that the broker be skilled in the marketing and negotiating process of selling businesses.
Read the full article at FitSmallBusiness.com