How do you find and use business brokers?

April 12, 2021

by a professional from Vanderbilt University in Austin, TX, USA

Hi everyone. This is my first post - happy to be part of the community! I'm trying to learn a little more about how people use business brokers as part of their search. Do you have relationships with specific brokers? How do you find brokers? If you're using them, what is the most important part when it comes to identifying a broker that's going to be helpful for your search?

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Reply by a professional
from Central Washington University in Everett, WA, USA

It's very valuable to have connections with someone in the area where you are looking to make a purchase or sell and I recommend working with one when you are making a purchase or sell. Because they're business is to know the market, that's what they spend their time learning. They also have the tools to effectively evaluate a business and help you make a wise decision in your purchase as well as tools to prepare the sell of a business so you can get the most out of it. If you have an interest in taking a look at the Seattle, WA area, I have a relationship with multiple brokers I could introduce you to.

Reply by an intermediary
from New York University in Menlo Park, CA, USA

Josh, welcome to the community. Glad to give you a single broker’s opinion on what it’s like from our perspective and the best way to engage. In general, I’d look for brokers who operate in your desired geography or vertical and then meet them via telephone. Your goal will be to meet brokers you like and trust and ask to be included in their deal flow. Good companies are hard to find, good companies with motivated sellers are even more rare but if your network is broad enough you should see a few good ones each month.

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