Find a Business Broker

Yes. In every state of Australia a business broker must be licensed to operate. They are usually licensed alongside Real Estate agents though some states have special classifications for ‘business agents’. It is important to check the governing body in each state to ensure the broker has a current license. Check NSW License, Check QLD License, Check VIC License, Check SA License, Check WA License, Check NT License, Check TAS License and Check ACT License.

Bsale has been working with business brokers for over 15 years. Their loyalty to Bsale and our family business still humbles us today. Business brokers are the professionals who can assist owners in buying or selling businesses. They have a wealth of knowledge and experience. Bsale provides an advertising service that allows business brokers to place their client’s listings for sale on Bsale with the goal of generating leads. We are big supporters of business brokers and partners of the AIBB and love to share stories about brokers and their advice for business owners. 

Finding a business broker for your sale is made easier on Bsale. Our find a business broker system allows you to enter your industry and location, and a relevant list of brokers will appear. You will be able to see their biography and businesses they currently have listed for sale so you can compare them to your business. It's important to contact at least three business brokers to compare their experience, services and whether you can connect with them. It’s important to have a good relationship with your broker as it usually takes 6-9 months to sell a business. Always check the licensing of the broker and ask to speak with previous clients or to read testimonials.

A good business broker will be actively involved in the industry and have a good network of contacts. On Bsale we have a ‘find a business broker’ section so you can search for a specific business broker who can assist you with your business sale. All of these brokers advertise on Bsale and support our family business. There are a number of industry bodies including the AIBB REIA, REINSW, REIQ, REIV, REIWA that reputable business brokers are members of. 

Every business broker has a different fee structure based on a number of factors. Selling a business can be a lengthy process, some may sell in 3 months, others may take 2 years. It depends on the complexity of your business, whether it is a niche market, your price point, your expectations and whether the right buyer can be found. In general, commissions are 5-7% and there may be additional fees for marketing expenses. A good broker should be judged based on their experience selling similar businesses and not solely on commission rates. 

A business broker is a licensed professional who is usually engaged by a business or franchise owner to assist them in selling their business. Initially, a business broker will perform an assessment of the business and recommended any preparation that is required to achieve an optimum sale price. They will then prepare a market appraisal for the business and determine a price guide. If the owner engages the business brokers services, the broker will continue to prepare the business for sale. This will include roles such as; determining the best sales strategy, creating marketing materials, promoting the business for sale; fielding buyer enquiries, engaging in negotiations, connecting with allied professionals such as a solicitor and basically guiding the seller and buyer through to settlement. 

A business broker may also assist in a number of other areas such as; assisting buyers find opportunities, assisting with due diligence, guiding mergers and acquisitions, business coaching and business valuations. 

A good business broker has a lot of knowledge and experience in selling businesses. They have good communication skills and can negotiate between you and the buyer to enter an agreement. A good broker will be well organised and in regular contact with you, so you know they actively promote your business sale, receive inquiries, and narrow down genuine buyers. A good broker should be advertising your business on multiple websites to be achieving the most exposure. If they are only on 1 or 2 websites, they are not working in your best interests. A good business should be well represented in the industry.