Business Broker: A business broker is a business intermediary who facilitates transactions between buyers and sellers of small and middle-market businesses. Most frequently, business brokers are retained by the sellers.
The traditional model operates much like a real estate brokerage, with a focus on creating a portfolio of listings, if you will, of businesses for sale. Depending on the firm, these listings range from small mom and pop businesses up to businesses with millions in revenue. Such listings are typically provided in proprietary or in shared databases.
The model works well for entrepreneurs who are sellers of small businesses and for sellers who are interested in exposing their properties to the market to see what the traffic will bear.
Generally, business brokers are not registered with the NASD.
Devin,
I'm in Utah too but work with a great small company in California. They have a list of business brokers on their site. These are usually brokers who "get it". If they are featured brokers, they really are. They're usually mentored by Peter Siegel who owns the site. He's an expert in buying and selling businesses and a great guy. Check out his free webinars about selling or buying a business. I'd love to get your feedback.
Thanks for a great blog!
Janet
newspapergrl.wordpress.com
Posted by: Janet | December 14, 2006 9:14 PM | Permalink to Comment