What Do Business Brokers Really Do? What is Business Brokerage?


Business Brokers help business sellers and buyers make the most important decisions of their careers.  Business Brokerage can help remove the uncertainty that comes with buying or selling a business.   The work of a broker in the successful selling or buying of a business has a much more profound effect on the lives of the business owner and his/her family than anyone else.  Business advisors, accountants, solicitors, bank managers do not come close to impacting on the financial and emotional aspect of a person's life in the way a Business Broker does.  Nearly every time a business is sold or a sale fails, the important role of the Business Broker on peoples lives is demonstrated.  A  professional Business Broker should have knowledge of the market, negotiation skills, knowledge of accountancy, law and contracts and also empathy and understanding that the transaction is helping to change the lives of the seller and buyer for the better.  For example, Business Brokers on the Sunshine Coast should know the market of the Sunshine Coast very well. Many Business Brokers look at what they do as a job, simply as a way of making a living.  Others don't make the commitment necessary to do the job well, while others don't take their responsibilities seriously enough to learn the business.  The truly professional Business Broker expects to get referrals and do business again with the seller and buyer.  A bond of trust and respect will be formed.


TO THE SELLER
The listing represents the end of ownership of a business.  It means, for many sellers, heading into unchartered waters.  For others it is the end of a dream - they built the business, or perhaps started it - a little of them will always remain in the business.  So, the listing to the seller represents the end of something and the beginning of something else.  To a seller a listing is much more than a piece of paper - it is most likely their biggest or second biggest asset and will represent, when sold, the bulk of their cash wealth.  The business belongs to them; it is a very personal possession - almost like a child or part of the family.



TO THE BUYER
It is a beginning of a dream, of independence, of doing one's own thing.  The buyer approaches the purchase of a business with great trepidation, anxiety, cautiousness and fear of being ripped off but also with a hope, enthusiasm and optimism of making a positive step in their life.  The buyer will be investing the bulk of his/her assets in this business.  The buyer will, most likely, be dependent on the business to provide for his/her family.




Most long established Business Brokers have experienced, unfortunately, the seller who, at the last minute, decides not to sell, and sabotages the sale prior to settlement by purposely spooking the buyer.  In most cases it is because he/she can't, emotionally “let go.”  In other cases, sellers have peered into the future and run back to their business, due to the fear of not having anything else to do.  Business Brokers have to deal with and understand both “Seller and Buyer Remorse” during the contract stage of a business sale.  The truly professional Business Broker sometimes has to speak quite firmly to the remorseful party and remind them of their original reasons to sell or buy.  Once the settlement has been achieved and the parties are more relaxed they will thank the Business Broker for helping them to make the jump. 

Business Brokers perform a critical role in the small and medium size, privately owned, business community.  Without the services of Business Brokers, many business owners would not receive a fair price for their years of hard work.  The truly professional Business Broker will also tell a seller that their price is too high and sometimes, as a messenger of bad news, the seller will abuse the true professional and run with the Business Broker whose main aim is to get an advertising cheque.

The truly professional Business Broker is proud of what they do; take their responsibilities seriously and; realises that sellers and buyers are real human beings.

 

For more information on selling or buying a Sunshine Coast Business Contact Weyman Jones Business Brokers & Valuers.