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Can You Buy a Business Without a Broker?Buying a business without a broker is posisble. If you know the business owner or already have a good idea of the type of business you want to buy is it possible. If you´re starting from scratch, however, and have no knowledge or experience in your prospective industry, a business broker can help you get down to specifics. They can help you make informed decisions about what type of business you need to buy, how much money you should spend and, most importantly, which specific business is right for you. Brokers can ensure a smooth transaction from an initial appraisal through the negotiating process to the final close of the deal.
Because brokers usually earn their commissions from the vendor, it´s always a good idea to browse a broker´s listings. They can give you a good idea of what´s available in your geographical area or prospective industry. Business brokers often specialize solely in the sale of small businesses. Some brokers even specialize in the sale of a specific type of business, such as travel agencies or restaurants. Usually these specialized brokers have worked in their specific industry. As a result, a good business broker should have listings available at any given time. Be wary of brokers that only deal with the sale of small businesses on the side eg High Street Estate Agents - they are interested primarily in property purchase, and will not consider your interests i.e. motivations, aspirations etc, as important as would a broker who deals solely with buying and selling small businesses. Visit BizSales Current Public Listings here |
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