How to Start a Home Based Business - Become a Business Broker in Less Than 30 Days
A business broker is a person or acting as the go-between for sellers and buyers of small businesses.
Average annual salaries according to recent surveys hover around $250k.
With only about 3500 brokers nationwide, there is clearly a need for more skilled brokers.
Because it is a small industry (for the time being) you will need to be proficient about "educating" clients about the services you offer and the benefits you bring to the table.
You need to be able to write up marketing plans to target potential clients.
If you have education in a certain niche, this may also be attractive to clients, if you have inside experience and knowledge of certain "types" of business.
Buying, selling, merging and acquiring businesses is a tricky affair.
Because of this, business brokerage is a skill that requires experience in many disciplines.
Business brokers usually get paid in one of three ways (and sometimes a combination of the three): hourly, retainer, and commission (commission being paid on a successful business transaction).
Some business brokers may require an initial retainer as well as a commission.
Additionally they may sometimes bill for hourly items if certain work falls outside of the original broker contract.
If this is a skill that interests you, and and to learn how to become a business broker then you should take a serious look at your skills and see if this is a wise career choice for you.
Some formal education is important to eliminate at least some of the learning curve.
First off, a strong education and experience in "business" itself is a necessity.
Having owned a business will give you a great leg up in the business broker business.
Knowing common and not-so-common business formulas and processes are important.
There are many companies that offer "business broker schools" with mixed results.
Regardless of formal training or not, you must have a passion for buying and selling businesses.
Attention to detail is a must.
Business broker franchises do exist as well.
Buying into a franchise gives you immediate access to contacts, professionals and resources you might otherwise have to build up from scratch.
You also have an advantage from a marketing perspective, because franchise packages also mean you have access to marketing resources, and your "name" as a franchise is already out there for people to find, making you more visible to potential clients.
Another option is to simply link up with a large broker.
These larger brokerage firms work in a "real estate" model.
This means the broker handles and manages the office, and a bevy of agents work underneath the broker.
This is a great way to get familiar with the processes.
There are no national licensing requirements for being a business broker.
A handful of states do require you have a real estate license in order to buy and sell businesses.
Starting a home based business as a business broker is a good option till you are a success in this field.
Average annual salaries according to recent surveys hover around $250k.
With only about 3500 brokers nationwide, there is clearly a need for more skilled brokers.
Because it is a small industry (for the time being) you will need to be proficient about "educating" clients about the services you offer and the benefits you bring to the table.
You need to be able to write up marketing plans to target potential clients.
If you have education in a certain niche, this may also be attractive to clients, if you have inside experience and knowledge of certain "types" of business.
Buying, selling, merging and acquiring businesses is a tricky affair.
Because of this, business brokerage is a skill that requires experience in many disciplines.
Business brokers usually get paid in one of three ways (and sometimes a combination of the three): hourly, retainer, and commission (commission being paid on a successful business transaction).
Some business brokers may require an initial retainer as well as a commission.
Additionally they may sometimes bill for hourly items if certain work falls outside of the original broker contract.
If this is a skill that interests you, and and to learn how to become a business broker then you should take a serious look at your skills and see if this is a wise career choice for you.
Some formal education is important to eliminate at least some of the learning curve.
First off, a strong education and experience in "business" itself is a necessity.
Having owned a business will give you a great leg up in the business broker business.
Knowing common and not-so-common business formulas and processes are important.
There are many companies that offer "business broker schools" with mixed results.
Regardless of formal training or not, you must have a passion for buying and selling businesses.
Attention to detail is a must.
Business broker franchises do exist as well.
Buying into a franchise gives you immediate access to contacts, professionals and resources you might otherwise have to build up from scratch.
You also have an advantage from a marketing perspective, because franchise packages also mean you have access to marketing resources, and your "name" as a franchise is already out there for people to find, making you more visible to potential clients.
Another option is to simply link up with a large broker.
These larger brokerage firms work in a "real estate" model.
This means the broker handles and manages the office, and a bevy of agents work underneath the broker.
This is a great way to get familiar with the processes.
There are no national licensing requirements for being a business broker.
A handful of states do require you have a real estate license in order to buy and sell businesses.
Starting a home based business as a business broker is a good option till you are a success in this field.
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