Knowing your first step can be difficult. You first need to decide how serious you are and how much you know already. If you’re not sure exactly what the job requires or need to know more before making that leap of faith, we suggest attending a few NEBBA meetings and networking with NEBBA members. You can make meeting reservations online.

You can also purchase the Complete Guide to Business Brokerage from one of our members, Tom West of Business Brokerage Press. This book is ideal for those looking to enter the industry and for seasoned professionals who need a refresher course on the basics of business brokerage.

Another first step would be to give any NEBBA board member a call and let him or her walk you through the lifestyle and duties of the profession. We can help you discern whether the profession is right for you and, if so, how you should enter it.

You can enter the profession in three ways: you can go on your own, buy a franchise, or go work for another broker. We can help steer you on the right course. Once you have made the decision to go into the business, we can show you the tools and provide you with the education you will need to get started and operate either your own firm, franchise, or make you a productive agent for another broker. We hope you will join one of the most exciting and rewarding industries there are. Remember, we are always here to help.

Why Business Brokerage?

Many people can go through their entire working life and not know what a business broker is or even what they do. Most jobs are just that – “jobs.” They generally require one to work and report to someone, maintain regular hours, ask for the occasional day off, the pay is just that – the same amount every payday, work hard for the hoped-for promotion, receive a week or two of vacation time and schedule it way ahead of time – the list is endless. And, then to top it off, no job is a sure thing, not in today’s workplace.

Business brokerage offers you the opportunity to be independent. No office politics, no gossip around the water cooler. If you want to take a day or week off, you can do it when you want. If you want to see your child’s soccer game, dance recital or school play – you can. You make your own hours. And, no worries about being transferred or being a part of the next downsizing. Earnings are open-ended. There are no educational requirements or other prerequisites either.There are very few opportunities that can provide independence, top income potential and a great quality of life.

There is also one other major factor – it is an exciting business and it is a lot of fun. If it so good, what are the requirements? Business brokerage requires a lot of hard work, especially in the beginning. One must like people and want to help them. Since, in most cases, the income is commission based, one must have the resources to support oneself and family, if there is one, for a minimum of six months. Unless you are planning to be a sole practitioner and opening your own business, your expenses other than your own personal requirements, are generally limited to your own gas, mailings and personal stationery items. In some states a real estate license is required. Being a business broker offers an unlimited income potential coupled with an independent lifestyle in a profession that provides a valuable service – and also happens to be a lot of fun.

What is a Business Broker?

“A person who acts as an agent or intermediary in a sale or other business transaction between two parties.”
Dictionary of Business Terms by Wilbur Cross, Prentice Hall

However, a business broker is much more than the brief definition above. He or she is the catalyst that makes the sale of a business happen. A business broker helps people, when it’s time, sell their business. Their business usually represents their biggest asset; one that they have worked hard to build. The business broker works hard to find those sellers who have decided that the time is right for them to sell their business and move on to the next phase of their life. The reasons may be varied: retirement, personal problems, a desire to make a change – or just plain “burn-out.” The more serious the reason, the more they need our services.

Business brokers help the seller prepare the business for sale and price it properly. Then the business broker prepares a marketing plan or strategy. With the use of the Internet, targeted advertising and knowledge of who might be the best buyer, the search for the appropriate buyer is begun. The business broker usually handles all of the marketing, working with buyers and handling all of the negotiations and details in cooperation with the sellers’ and buyers’ professional advisors.

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