If you have decided that now is the time for you to buy a new business or sell your existing one then you may be on the hunt for a business broker. They act like a real estate agent for commercial companies, however, with added magic in the accounting and legal side of things. They have many secret skills that will sell your company for a great price, if this is what you are looking for. If you are looking to buy a business then they will find exactly what you are looking for, within your price range.
We have done the hard work so you don’t have to, below you will find a comprehensive list of four brokers who are willing and waiting to do business with you. However, bear in mind some are more picky than others.
Bridge Point Business Brokers
If you are wanting to buy a new company or sell your existing one then how about you look into using one of the best business brokers around? Bridge Point happens to be one of the most credentialed, experienced, experts in business brokering around. They act to bridge the gap between businesses selling and entrepreneurs or investors buying.
Employees at Bridge Point hold professional credentials including Certified Public Accountant (CPA) and Certified Valuation Analyst (CVA). If you are wanting to sell your business with Bridge Point then you may like to know that they are famous for their blind marketing. This means your competitors, employees, and customers won’t know the business is for sale or sold until the right buyer has been found.
Pros
Sellers like that Bridge Point Business Brokers uncover hidden ways to maximize the value of your company.
Not only do they use blind marketing strategies, they also have NDAs.
They provide a high level of post sale support to their clients, including tax strategies.
Unlike other brokers, Bridge Point has a dedicated real estate and advisory arm. Essentially, they can handle both parts of a business sale for you rather than needing two separate brokers.
Cons
The commission they charge is typically on the higher end of the spectrum, around 10 – 15%.
If you are located anywhere other than the southeastern U.S. or Florida, they may not be able to support you.
Difficult to hire as they don’t take on many clients at a time.
Synergy Business Brokers
Now we have an award winning Mergers & Acquisition (M&A) firm. Synergy Business Brokers is based in New York but they assist clients all across America, along with a few located internationally. They are far more than main street brokers, who specialize in smaller companies, Synergy will target established businesses with incredibly high annual revenues.
One of the best things about Synergy is they operate with a no fee until sold model. This means you won’t pay a single penny in commission until they have sold your business.
Pros
With no upfront costs, this is great for business owners who may not be confident with the sale of their company.
They have one of the larger buyer databases, this includes over 30,000 buyers who have already been pre-vetted.
Speaking of pre-vetted buyers, multiple reviews state that Synergy is amazing at getting offers within the first 72 hours of a business being listed.
Despite being located in the USA, they don’t just cover this area. They market international buyers as well as those a little closer to home.
Cons
If your business earns less than $250k, they may not list you at all. If you have a small, local shop then you will be better off with another broker.
They have high volumes of listings on their books, which means you won’t necessarily get the boutique level attention you need.
Their aftercare could use a little work. While they are great when it comes to the actual transaction, they are far less involved in the transition process.
FE International
If you have a business that is solely based online then you should certainly check out FE International. They deal with digital businesses, like E-commerce, SaaS, or even content and media. They appear more like a boutique investment bank rather than a traditional neighborhood business broker.
They are headquartered in New York and London, two major cities and hold a huge 94% success rate with the businesses they have already acquired.
Pros
They hold one of the highest closing rates in the industry. Before they list any business, they go through a vigorous vetting process.
FE International has a huge database of over 80,000 vetted companies. This includes private equity firms.
They handle all the legal paperwork and escrow in-house, this means you won’t need to wait around for weeks on end not knowing what is going on.
Cons
They turn down a high percentage of companies that apply to them, this is around 90% so incredibly high.
Some reviews have stated that FE International charges a small transaction fee of around 2.5%.
Sunbelt Business Brokers
Sunbelt business brokers are the world’s largest franchise, they have more offices and listings than any other brokerage. They are great for businesses like restaurants, retail units, and local services. They are not only located in the United States, they can also be found in over 30 countries.
As they are a franchise, each office in the states and around the world is privately owned and operated. However, they all utilize the global marketing reach and Sunbelt’s proprietary technology.
Pros
They are highly likely to have an office in your local neighborhood that already has local buyer leads.
Can be found selling all types of businesses from dry cleaners to factories.
Known for tracking market trends using their industry leading database.
Cons
Due to them being a franchise, the quality of service received can vary massively from location to location.
Can often feel like a volume shop rather than a partnership.
So there you have it, hopefully you found this article helpful and it gave you the answers you were looking for.