The 10 Best Business Brokers in 2020
After years of working so hard to build your business, it comes a time when you find many reasons to exit. And the best way to do that is to sell your business to fund your next venture or to retire.
You can choose to sell on your own to a close friend, family, or employee. But if you want to attract multiple buyers without lowering your business performance as you wait for the sale, you need a business broker.
A good broker like Business Exits can help you find the best buyer for your business’s exit strategy.
Who is a Business Broker?
A business broker is an expert who assists people during the process of buying or selling companies. The process entails valuation, finding potential buyers, and up to the time when the deal is closed.
Why Use a Business Broker?
There are many reasons you should use a broker to sell or buy a business in 2020. Here is why.
- To get the best valuation of your business.
- To save time.
- Maintain confidentiality.
- Advertising and marketing help.
- Help with price negotiations to get the best offer.
- To abide by regulations and laws.
8 Steps to Selling Your Business
Selling a business is a process that entails a lot than what most business owners think. And that’s where a broker comes in to help with the entire deal-flow.
Here are the main steps:
- Valuation to determine what your business is worth.
- Agency agreement signing that permits broker(s) to sell your company on your behalf. It also contains all the other terms, such as how much they will get from the deal.
- Develop the prospectus that describes exclusively what your business entails, and send it to multiple buyers,
- Find potential buyers from their pool by placing your business on the market.
- Price negotiations when offers start coming in and help answer most buyer’s inquiries.
- Due diligence that allows the buyer to verify all financial and other claims about the business.
- Transfer of assets and money to close the deal between a buyer and a seller. It’s the same stage a broker is paid.
- Post-sales training to the new buyer by the seller as the transition starts taking place.
The 10 Best Business Brokers (Updated 2020)
Now, it’s time for you to choose a broker to sell your business, depending on your company size.
We will take you through the 10 best business brokers you can find in the USA.
Our #1 recommendation for a broker is Business Exits, which is the best for selling $500,000 – $5 million in yearly profit companies with a revenue range of $2 million – $20 million across the USA.
They are the best brokers in the business if you want to expose your business to local-interested and international-based entrepreneurs and buyers. With Business Exits, you can sell your company for the maximum value with a 96% closing rate.
Business Exits has its headquarters in Beverly Hills with two other offices in New York and Arizona with qualified business brokers and friendly staff ready to serve you.
Click here to submit your valuation, and have an expert call you right away.
Here are some reasons why you need to work with Business Exits as your broker.
- Business Exits has $568.27 million in cash from its buyer pool, ready for acquisitions.
- They have experts with in-depth knowledge of how the business market model works and fluctuates with time.
- Sellers can use their readily available appraisal resources to get a realistic estimate of what their business is worth.
- They can help buyers find suitable businesses to maximize their investment.
BizBuySell is one of the largest and heavily trafficked business websites with unique users, many businesses for sale listings, and boasts lots of search activity than any other brokerage service. They get more than 1.4 million monthly visits and have an inventory of over 45,000 businesses for sale. BizBuySell is the best broker for selling companies under $400,000 in yearly profit.
- Houlihan Lokey
Houlihan Lokey is a top global investment bank with knowledge in valuation, capital markets, financial restructuring, and mergers and acquisitions. It’s the best for selling businesses with over $5 million in yearly profit.
- First Choice Business Brokers
First Choice has been in business since 1994 and claims to have sold businesses worth over $7.5 billion. Some of their primary services include buying/selling businesses, mergers and acquisitions, business valuation, business custom search, and transactional guidance. This brokerage firm operates in more than 15 states in the USA and serves companies with annual revenues between $100 million to $500 million.
- Synergy Business Brokers
Synergy Business Brokers have experience selling businesses in transportation, distribution, construction, HVAC, engineering, manufacturing, software, technology, and many more. They work best with companies that have an annual revenue range of $200,000 to $5 million.
- Woodbridge International
Woodbridge International is one of the largest mergers and acquisitions firm that has been operating since 1993. They have 19 U.S. and international locations and works best with companies earning $5 million to $250 million yearly in revenue. Woodbridge International has a 150-day auction process that allows you to sell your business for the maximum price before the closing sale date.
- Sunbelt Business Brokers
In business since 1978, Sunbelt Business Brokers claims to have sold more companies than any other brokerage firm in the world. They have the largest proprietary database with 2.4 million visitors each year and serves businesses with annual revenues of $50k to $50 million. They are the best broker for both small and mid-sized companies.
- Murphy Business & Financial Corporation, LLC
Murphy Business has 38 offices in the USA and Canada and has been in the brokerage business for about 25 years. Other services they offer include mergers and acquisitions, business valuation, franchise sales, commercial real estate consulting services, and machinery and equipment appraisals.
- VR Business Brokers
VR Business Brokers has sold many businesses since 1979 that are either family-owned or privately-owned. They have offices in 22 states across the USA and international presence in Canada and Chile. VR specializes in mergers and acquisitions, franchising services, and offers buy/sell advisory services.
- Transworld Business Advisors
With 200+ offices worldwide and 500+ brokers, Transworld Business Advisors is one of the largest brokerage service providers in the USA and globally. They have been in business for over 40 years and have sold more than 10,000 businesses. Transworld mainly focuses on business brokerage, franchise development, and franchise consulting services.
Finding the right business broker is a daunting task since we have so many of them, but with our thoroughly reviewing process, we have selected businessexits.com as our #1 broker for large deals. Still, know that different brokers are better for different sized companies – choose wisely.