The process of selling a business can lead to some questions and challenges, especially if it’s your first time. Hiring a broker can relieve some of the stress and allow you to focus on keeping your business up and running during the selling process. Brokers work with both buyers and sellers, and focus on negotiating the deal. They often have a network of buyers they can utilize to find the right match for you while maintaining confidentiality.
Many brokers are members of state or global associations, such as the Pennsylvania Business Brokers Association (PBBA) or the International Business Brokers Association (IBBA). Membership can come with a number of resources, such as partnerships with attorneys or banks, as well as seminars to increase members’ market knowledge. IBBA members also receive reports on current trends that may affect market pricing.
Business brokers in Pennsylvania are required to have a state-issued license before they can work in the field. To obtain a license, they must undergo hours of training which includes information on legal and tax implications, then pass the PSI Broker Real Estate Exam.
Selling a business can take time and effort, but let BizQuest help you find a broker in your area to assist you with the entire process.