Use a business broker not just to sell but also to BUY a business
When buying a business it’s important to recognise that the broker acts for the vendor, is paid by the vendor, and has the vendor’s interests at heart, not yours.
Your other professional advisors, the accountant and the solicitor, may advise in their specialist areas but would be distracted from their main job if they were to act as project managers or chief negotiators.
Tony Arena of Australian brokerage firm, BCI Business Brokers, makes a case for why you should employ a business broker to assist with the buying of a business. Read his article.
For a detailed guide on how to go about buying a business and getting a good deal, we recommend Richard Parker’s book: How To Buy A Good Business For A Great Price.