The Prototypical Small Business Buyer

I'd like to share an insight I had today about the typical small business buyer.

And please don't be offended if you're in this boat.

Over the years, we've interacted with thousands of buyers, and personally, I've engaged with hundreds. In fact, I was one myself five years ago. The prototypical business buyer is often someone seeking to enhance their personal situation. They possess true entrepreneurial spirits, and many of them are currently working for someone else, feeling bored and burned out. Their primary motivation is to find the freedom that entrepreneurship can offer, allowing them to take control of their own destiny.

However, it's important to note that these individuals are often quite inexperienced when it comes to buying a business. This is where Peterson stands out. We are a unique brokerage because we not only facilitate business transactions but also provide education and support. We guide and mentor business buyers as they purchase their first or second business, or even when they are selling their first or second business. Even if someone has been through this process a few times, they might have more experience but not necessarily expertise. They may not fully comprehend banking regulations or the intricacies of deal economics.

Therefore, it's essential for the community of people involved in this field – brokers, buyers, sellers, intermediaries, lawyers, and bankers – to work together to bring more sophistication to the world of buying and selling small businesses. At Peterson, we're dedicated to this mission. If you're a business buyer in need of assistance, please reach out to us.

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