Not exactly: a Business Broker is the intermediary in a business transaction that involved the assets of an existing small to medium size business. Typically, a business owner is selling the Good Will, Cash Flow, and Assets of his, or her business; rather than the stock in a corporation or the land/building that the business operates out of. The person buying the business is going to assume an existing lease on the property, but in some instances (less than 10%), the property is a part of the transaction. You do not have to have a Real Estate Agent’s license to be a Business Broker. When real property is involved, we use attorneys or commercial realtors to transfer those assets as a separate transaction.
As they say, there are 2 sides to everything. In this instance, the Business Broker’s role is similar to that of a Real Estate Agent.
The Listing Broker creates the Business Listing by doing an onsite business evaluation. As part of your training, you will learn how to measure Revenue, Expenses, Operating Income, Cash Flow, Fixed Assets, and Inventory Values to determine the Value of the Business.
The Buyer’s Broker qualifies, quantifies, and counsels the buyer on the types of businesses that they might be interested in and which ones they are financially qualified to purchase.
Both sides work with the buyers, sellers, accountants, lawyers, landlords, lenders, and government agencies to facilitate the sale
A small percentage of our sales involve distressed or asset-only transactions where the business has failed and the landlord, creditors, or business owners are liquidating the assets of the business. 90% of the businesses we sell are ongoing concerns with positive Cash Flow, good customers, and a positive outlook. #1 reason why someone sells an existing business is for retirement. #2 is that the business owner is ready to move on to other business interests. #3 is partner conflicts or marital problems.
We have former CEOs, Lawyers, Investment Bankers, and Sales Executives who are part of our team; but, we also have engineers, former teachers, real estate agents, computer science majors, and stay-at-home moms and dads. We have successes and failures from all walks of life. Typically, the person who excels at this is someone who:
We provide all of the educational, logistical, creative, and moral support to ensure your success. Our online computer applications manage and automate all of your client relationships. We provide legal, accounting, marketing, and operational support. We manage all of the online processes and coordinate all of the transactional activities. We have a state-of-the-art outbound call center and online education system.
Your first encounter with VBB is a short talk with one of our in-house Job Counselors; most of whom are also working Brokers. If we mutually decide that this is a good fit, you’ll go through our extensive online coursework that teaches you how to prospect for sellers, value businesses, cultivate buyers, create synergies, close transactions, and operate in our online environment. In the second phase, you’ll attend webinars, seminars, and conference calls to sharpen your skills. And then you’ll be teamed with a number of our Senior Brokers who will oversee your initial exposure to the marketplace and help ensure your success.
We can’t answer that, but you can – How much time and effort are you willing to put into it and how fast can you work? We have individuals who routinely earn six-figure salaries year-after-year. They are the ones that “get it”. They understand the simple concept that nothing happens until something is sold. i.e.: the sellers have to be sold on the concept of selling their business and that we are the best ones to do it. The buyer has to be sold on the value and nature of the business. If financing is involved, the lender has to be sold on the value of the business and the wherewithal of the buyer. We routinely pay out commission checks of $5,000 - $20,000, depending on the selling price of the business. How many deals can you put together in a month? Answer that and multiply it times 12; or, better yet, decide how much you want to make and then figure out how many deals you need to put together to realize your goals.
If you would like to talk with one of our Job Counselors, click here: www.vestedbb.com/become-a-broker and fill out our online application. Or, click on the apply button on this page to send us your resume.
We look forward to hearing from you; but if this isn’t for you, we wish you the best of luck in whatever you choose.