Feedback Form

Questions for Selecting a Business Broker or Intermediary

Questions for Selecting a Business Broker or Intermediary

When looking to buy or sell a business in Maryland or elsewhere it is very important to select the right professionals. A key professional for a market business purchase or sale is the business broker or intermediary. They will help you find the right business, prepare a valuation for the business sale or purchase, and negotiate your business purchase.

References and Community Involvement:

• Does the intermediary have written references? Can you call the references? (Don’t ever let an intermediary or broker tell you that you can’t talk to references because of confidentiality. Think about it, they must have some satisfied closed customers)
• Does the intermediary belong to local business, charitable groups, churches that indicate a place in the community?
• Does the Intermediary Belong to Industry Associations that have ethical codes?



Questions to help you determine if the intermediary is knowledgeable:

• What is the intermediary's formal education?
• Has the intermediary obtained continuing education in his field of practice?
• Does the intermediary belong to associations that relate to his field of practice?
• Has the intermediary authored or spoken professionally on his areas of expertise



Questions to help you determine if the intermediary has experience:

• Has the intermediary ever owned a business? Was it sold?
• How long has the intermediary been brokering?
• Has the intermediary sold a business like yours?
• Does the intermediary have any related experiences from selling other businesses?
• Ask them to explain a typical transaction? Does that sound reasonable?
• Did the intermediaries past experiences relate to his role here?





410-451-8622
gcaruso@successfulexits.com




Questions that can help you determine if the intermediary is organized and has a system:

• Ask about how they would find a buyer?
• How they screen prospects?
• Does the intermediary work for a firm? If so what does that add to the process?


Compatibility:

Through all of the above questions you should be thinking about experience, integrity, and ability to get the job done.

The Crux of the Matter:

If you are not 100% comfortable with your intermediary, interview another one. Keep looking. Sooner or later the broker or intermediary is going to have to tell you bad news and how to overcome it. If you don’t trust the intermediary, this is even more difficult.





Questions for Selecting a Business Broker or Intermediary - To learn more about this author, visit Greg Caruso's Website.

Like this article? Share it with your friends

Related Forum Posts Article Feedback
Article Feedback No article feedback found.
Leave Your Feedback

Related Articles Related Articles
Questions for Selecting a Business Broker or Intermediary
  When looking to buy or sell a business in Maryland or elsewhere it is very important to select the right professionals. A key professional for a market business purchase or sale is the business broker or intermedia...
What is a Business Broker?
  A business broker is an intermediary between a buyer and a seller of a business. In most cases a business broker represents the seller in the sale of a business. It is the business brokers' responsibility to find qu...
Interviewing a Business Broker
  This article lists 37 questions to ask a business broker before signing an engagement letter. The answers to these questions are critical as the exclusive period will typically tie you to the firm for 12 months.
FRANCHISE BROKERS vs FRANCHISING CONSULTANTS
  Whether to use a "broker", consultant or in-house marketing team is always an issue with young franchisors.
Prequalification Program
  The Prequalification Loan program uses intermediary organizations to assist prospective borrowers in developing viable loan application packages and securing loans. This program targets low income borrowers, disable...

Related Forum Posts Related Forum Posts
A few more questions to ask... A few more questions to ask...
My entry My entry
Revenue Earned Using Various Online Business Models Revenue Earned Using Various Online Business Models
Re: Congrats Shri! Re: Congrats Shri!
Exclusive: Interview with Results Exclusive: Interview with Results
Re: Teaching kids financial literacy Re: Teaching kids financial literacy
Book Sales Book Sales
Business Coaching Resources Business Coaching Resources

Related Forum Posts Related Businesses - Evan Elite Authors
David Barr
David Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website

Anne Barr
Anne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website

Richard Jefferies
For an online Car Loan Calculator and finance for a cheap car loan. Get approved on car loans or car finance in Australia with cheap bank car loans and finding a car finance broker. Commercial car loans including business car finance and car lease. Car Loan Calculator has information on finance companies and getting the right cheap car loan from banks at best car loan rates and a online car loan calculator for all finance in Australia. Get the best car finance with our help at Car Loan Calculator and Finance Ezi. - Visit Richard Jefferies's Website

Jeff Foster
WebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. - Visit Jeff Foster's Website

Casey Gollan
Casey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website

Kim Castle
With nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website

Bernard Reber
Back in late 1992, MS Access hit the streets. About that time the company I managed needed new software to handle their growing client base and I decided to try this new product. I had little difficulty writing and adapting a database to suit us and discovered a hidden talent for programming. A business was born. With business studies and 25 years of management experience in three different countries under my belt, I could offer a unique combination of skills and my customers agreed. From these humble beginnings my software 'invoiceit' emerged in 1999 and has since been taken to 49 states (hello Wyoming, won't you join us?), all across Canada and more than 70 other countries. From the very beginning the program included cashbook accounting, the simplest form of keeping financial business records. The Dictionary.com defines 'cashbook' as "A 'book' in which to record money received and paid out". For 'book' substitute 'simple software' and that's what I'm about. Now I have published Simple Accounting, an inexpensive spreadsheet solution which even you can master. For just $14.95 it costs less than a takeout meal! More at http://www.scrambled-card.com/simple_accounting_main.htm - Visit Bernard Reber's Website

Dr. John Oda
John Oda Ph.D NLP is a business peak performance expert, an author, and speaker frequently called upon to provide corporate training, workshops and seminars for many companies in the United States. He is an expert in coaching sales and business professionals in overcoming the behaviors and obstacles that may impede their sales results and affect their bottom line. Since 1995, John has created a speaking bureau such topics, which include: time management, sales training, human diversity, leadership programs and etc. He provides companies with a strategic plan to increase their bottom line by over 25 percent yearly. - Visit Dr. John Oda's Website


To learn more about the Evan Elite Author Program please contact us.

About The Author


Greg Caruso
(Visit Greg's Website)
About the Author: Gregory Caruso, CPA, Attorney, Certified Valuation Analyst, and author, is a Principal at Harvest Associates in Baltimore and Bethesda, Maryland. Greg is an expert in privately held business mergers and acquisitions. Greg specializes in working with owners who are determined to realize the highest business value from their business exit. Greg has over 20 years of experience. www.Harve stBusiness.com, gcaruso@harvestbusiness.com 877-838-4966
About The Author

View Author Blog
View Author Blog

View Author Video
View Author Video

Free Downloads


Greg Caruso's

Complete
List Of
Buying-A-Business
Articles

First Name
Last Name
Email
10 + 5 =
 
If you enjoyed this article, get Greg Caruso's Complete List of Buying-A-Business Articles For FREE!

More Greg Caruso
5 Tips to Buying the Right Business
3 Secrets to Obtaining Loan Approval for the Purchase of Your Business
Strategic Planning for Contractors and Developers in Difficult Times
What is the Sales Value of my Small Business
Strategic Exit Planning and Strategic Tax Planning to Save Income Taxes
Protect The Merger Or Sale Value Of Your Business What You Can Learn From The DaimlerChrysler Debacle
Dont Struggle for Years Buy a Professional Practice and Jumpstart Your Growth
Questions for Selecting a Business Broker or Intermediary
Who Has Your Intellectual Capital
Become An Author


 
 
 



Have A Suggestion?
Toronto Salsa Classes / Toronto Salsa Lessons Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Have A Suggestion?

Featured Ebook


ebook Famous Entrepreneurs - Modern Empire Builders


Featured Ebook

More Evan Carmichael
Have A Suggestion?


Sales Lessons From Starbucks And Dell