When Hiring A Business Broker Do You Need A Sector Specialist?
When it comes to intermediaries who assist with the sale of businesses – whether they call themselves business brokers, business transfer agents, investment banks or corporate finance firms – there are some who specialise in the sale of businesses in a particular industry and there are others who are generalists and take on instructions from businesses in any industry.
As a vendor is there an advantage in you going with a sector specialist?
This article from our sister website, UK Business Brokers, covers this question and provides the pros and cons of signing up with a sector specialist consultant / broker.
Summary: Using a sector specialist can shorten the time to market and, usually, result in a higher sale price. However, the issue of finding brokers who are experts in your particular industry or sector is easier said than done. Neither in the US nor in the UK is there any national and public database or directory of brokers split by their sector specialisation.
The article covers some of the ways in which you could potential find the right business broker for you business.