Types of Services That A Broker Can Provide
Broker services vary widely depending on the practice and skill set of the broker. The most common services provided by a broker to a client are:
- Assist client in establishing a MPSP Value - Most Probable Selling Price Valuation; the techniques used by individual brokers can vary greatly in this process
- Develop a comprehensive Information Memorandum on the company; normally a 15-30 page document outlining the business for potential buyers
- Conduct buyer searches
- Exposure - Marketing the business to prospective buyers
- Screen buyers for ability to complete a purchase
- Coordinate negotiations and provide deal structuring advice
- Provide overall deal management to guide the client through the entire process
- Help maintain confidentiality of the sale
- Hourly Consulting for a fee, based on the client's needs
Perhaps one of the biggest services provided by brokers is the ability to allow owners to stay focused on running their business during the sale process which can be take on average 6 months to 12 months to complete.
Read more about this topic: Business Brokers
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