Your business broker will be your go-to confidant for all your business needs. They will help you from your business’ infancy all the way up to its financial booming success. That is why it is crucial to look for particular qualities from your broker. At Rockrose Realty near Tampa, our business brokers are hand-picked to meet the needs of any business client. With twenty years of experience, we are confident that any one of our brokers will supply you with the comfort and aide of running your business.
Here are some qualities we suggest you look for before you hire a business broker:
Look at their licensing and accreditation.
The business broker industry has a few notable accreditation and licensing structures. A few of these communities are held at a higher standard than others. See which one your potential broker belongs to get an idea of what they might be able to do for you.
The International Business Broker Association is one of the leading organizations that offers accreditation as a Certified Business Intermediary. If your broker meets their requirements, it means they have 52 credit hours or required courses, 16 elective credit hours, passed an exam, and they have shown they have made a lead with at least three business transactions. In other words, they are experienced.
The M&A is another licensing to look out for in your broker. The achieve accreditation with this organization, your broker must have been the lead seller on three or more transactions over $1 million USD. They also have to meet their education requirements and have minimum three years full time M&A experience within the last ten years.
Make sure they know your industry to meet your business needs.
Check to see if your potential broker has sold a business in your niche and a business of comparable size to yours. Also check to see if they sell businesses near Tampa regularly. This will show their knowledge on how to market your business and how to delegate your finances. It could also be beneficial in that they may have someone in their network that they can connect you with to help further your business.
Evaluate their professional reputation.
First impressions are always important. If you have a good feeling about your broker, don’t be afraid to dig a little deeper. Now more than ever, we have access to professional information right at our fingertips. It’s important to gauge your business brokers professional and public reputation as this could be in indicator of how they are to work with. A negative persona can mean more trouble for you, and other companies may be hesitant to work with you. Meanwhile, a well-known and respected broker can only benefit you in the long run.
Ask about their marketing strategies.
This is perhaps the most important aspect to look at. The way a broker decided to market your business is going to be the major turning point for your business. This is why it is suggested that you find a broker who has experience within your business’ industry. They will have already possessed the knowledge and connections that can get your business to really take off.
If you think your ready to look at business brokers, check out Rockrose Realty near Tampa, and let us help you take of all your business needs.