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How can I find business brokers in my industry?

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Many entrepreneurs need to find a business broker from time to time. A business broker will help you find or sell a business much like a real estate broker will help you find or sell a house when you are in the market. The question becomes how do you find a business broker in your industry?

A business broker will also specialize in the types of businesses they deal with. Much like a Realtor, each of them will have specific knowledge in different parts of the market. If you were to move to a large city, you want to find a realtor that specializes in the type of house you are looking for in the area of town you want to live. If you pick any realtor, you may be able to find a good house, but they won't be as efficient and they won't be able to find you the best price. Also, if you are selling you may find that they can't give you good advice for your specific home.

Business brokers will be much like the real estate broker. They should know the market in their area and have the contacts you need to move your home or business the fastest while maximizing your money involved. They will be able to help many people, but they will be able to better help those people that they have experience with in their business.

The best place to find a broker is through a referral. If you can get a recommendation from somebody that has already done business with them, you will be able to find somebody that is in the industry and have a reference at the same time. If you are trying to purchase a restaurant, find a restaurant that was recently purchased and asked what broker they used. Ask if they liked the broker and what kind of services were provided and fees charged.

Another place to look is in the local classifieds. By checking out the newspaper or computer sites like Craigslist.com, you will find multiple listings. If they are not specific about which industry they specialize in, give them a call and ask before you reveal what industry you are looking for. If the area you are working in is not very large, you may find that you are not able to find a local broker that specializes in your industry.

If you can't find a local broker that specializes, you may need to look at a more national scale. You can find listing of brokers on sites like BrokerPages.com. This will allow you to pick and choose from a larger group of brokers. The advantage of a larger broker is that they will work with a larger group of people. If you are trying to sell a warehouse, a national broker may be a good suggestion. However, if you are selling a local business like a restaurant, you may want to go with a local broker that knows the area better and those that may be interested in your business.

Another good resource to use would be a commercial realtor. They work with businesses on acquiring and selling real estate. They will have many contacts with business brokers working in the area and may be able to lead you to the right broker in your industry.

In summary, a business broker can be a great asset for you when you are buying or selling a business. They should know the industry and have the contacts you need to move your business the fastest while maximizing your money involved. You have several resources to find a broker, but a referral will always be your best choice.

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Posted by DF
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