You are finally ready to sell your small business. Who do you turn to find the right buyer? A professional business broker. While they are not cheap, they can find the highest price and best payout for your company.
1. Find someone you can trust. This is a very important relationship so find a person that you work with well in high stress situations. They will be negotiating the business part of the deal on your behalf.
2. What will they charge. Most charge 6% graduated commission on transactions of great than $1M. For transactions less than $1, the fee can be 10% or more. Most will charge a retainer of $5,000 deductible from the success fee.
3. Complete the deal team. You will also need a tax accountant and a lawyer who are familiar with doing these types of transactions.
