Anyone have a list of vetted brokers?
August 15, 2023
by a searcher from Rice University - Jesse H. Jones Graduate School of Business in Houston, TX, USA
Good Afternoon,
Does anyone have a list of vetted brokers they would be willing to share?
Thanks in advance!
from Northern Arizona University in Tucson, AZ, USA
from The University of Chicago in Chicago, IL, USA
Here are few thoughts:
1) Are you looking for a BB to "find" a business for you (i.e., represent you) or are you looking for a BB who represents a seller and is good to work with (i.e., knows buyer and seller concerns, issues, etc.)?
2) In general, good BB characteristics are as follows (not an exhaustive list),
a) One with some credential. They are M&AMI, CMAP, and/or CM&AA for lower middle market businesses. Another one is CBI; some CBIs are doing primarily Mainstreet businesses, some are also doing LMM businesses.
b) There are many brokers who do not have a credential mentioned above but have years of experience.
c) broker with focus on industry or type (like franchise) are also good.
d) A broker who can command a material retainer from a seller are likely to be good.
e) A broker who has done few B2B LMM deals is likely to have deeper experience than one whose primary experience is B2C.