Careers For Business Brokers
Business Brokers are professionals who are hired by Business owners to sell their companies.
They are usually divided into two categories. The first, are Main Street Brokers who sell businesses that are generally retail in nature, could be a franchise, but the transactions are usually below a $1.0 MM. The second classification, are Mergers and Acquisition specialists who handle larger transactions that many times are manufacturing or distribution and usually exceed $1.0 MM.
In either case, Business Brokers need to have substantial education and training. We are usually selling the largest asset of our clients, a huge responsibility that must be handled in a very professional manner. To be successful, you must be able to understand financial statements, be familiar with the appropriate laws and tax implications, know how to evaluate a company's performance, find the right buyers, etc. You are the focal point with the accountants and lawyers from both sides in a transaction. Without strong personal skills, you will fail.
This is not real estate, where listing on multiple sites is your main activity. This is not a quick income stream since transactions can take many months, sometimes years. However, if you are well educated, gain experience, and have patience, this is a very interesting and financially rewarding occupation. The challenge is to get into this business, develop credibility, and be able to handle your expenses for at least a year before you can expect to get income. Most of the members of PBBA are more than wiling to discuss opportunities that may exist within their firms for those who have a strong background.