Business Brokers are facilitating Consultants who play a very important role in assisting Sellers and Buyers of businesses. Remuneration for their role is derived from commissions earned upon the conclusion of a sale.
To be a successful Business Broker, one should ideally have been in business and in the process, gained a thorough knowledge of business and business principles in particular, the ability to read and accurately interpret balance sheets, income statements and other basic accounting processes.
It is also most beneficial to have run a business in that, in so doing, one is generally exposed to all the dynamics of business ensuring that, in dealing with Sellers and Buyers, one is adequately experienced and skilled to identify and disseminate critical and salient information.
The preparation and presentation of business profiles on the businesses they represent is key to ensuring that, the business is shown in its best possible light thereby maximizing the price and creating added value.
When introducing potential buyers to business opportunities, a Business Broker should be well informed about the opportunity to enable him to provide the potential Buyer with a comprehensive overview in respect of all the vital elements which a Buyer may wish to know so that he/she can make a sound decision on whether or not the opportunity is one worthy of pursuance.
Similarly, when dealing with Sellers, Business Brokers need to be well informed about the local market so that relevant and accurate comparisons can be drawn to guide Sellers in the listing of their businesses and at the right price.
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