A potential buyer is not interested in a business only in the opportunities it has to offer. This is why business brokers are not only required to present a business in a transparent way to potential buyers but also to explain and explore all opportunities the business presents for them to grow it.
A business broker understands that buyers:
- Are not just buying a business;
- Want to buy an opportunity;
- Need help to understanding the business and these opportunities.
This is one of the crucial elements an experienced business broker must bring to the sale of business and in fact, this highlights the differences in the role of a business broker to that of a real estate agent.
When it comes to selling and buying a business a business broker must be able to :
- educate the seller to prepare their business to be at its best for sale, and to educate the buyer to see the opportunities a business holds for them;
- possess specialised skills to educate to successfully navigate the process together with other relevant experts such as lender representatives and lawyers