Or, starting from the beginning, what is a business broker?
A business broker is a trained intermediary who assists sellers and buyers of businesses in the transfer of ownership. They help people buy and sell businesses. Transactions generally involves small businesses ranging from “Mom & Pop” shops to franchises and chains, and service a variety of industries, including retail stores, bars & restaurants, automotive and manufacturing businesses.
The industry is relatively small to compared to other trades such as real estate. There are several thousand real estate agents in Central Florida, however only about 1,000 business brokers and intermediaries throughout the entire state.
And whilst most brokers are competent to mediate the sale of many types of businesses, several practioners have further developed niche markets. Some brokers concentrate on the sale of petrol stations, while others prefer to work with manufacturers, printing companies or restaurants, for example.
My particular area of expertise includes work with both Americans and foreign national buyers who are seeking business opportunities for not only investment purposes, but to also meet criteria established by the U.S. Embassy in applying for a visa to the US.
Common associations that brokers are members of include the International Business Brokers Association (IBBA), as well as state organizations. In the state of Florida, I am a member of both the Business Brokers of Florida (BBF) and the IBBA. In addition to business brokerage designations, I am also a Florida-licensed real estate broker, Arizona-licensed real estate associate, Florida Notary Public and member of both the Orlando Economic Development Commission and the British Chamber of Commerce.