Remember that checking out a business broker doesn’t mean you have to hire them. You may just be able to get some good ideas about your business sale, as well as confirm your decision to or not to use their assistance.
Good questions to ask any potential broker include these:
(1) Are you a part of a firm, a trade group, or any business brokerage associations?
(2) What do you think is a good selling price for my business?
(3) Do you act in conjunction with other business brokers?
(4) How do you plan to show the business?
(5) How often do you contact your sellers about progress?
(6) Do you have any references I could check?
(7) May I read over your listing agreement?
(8) How will you advertise my business?
(9) What are your fees?
(10) Anything else that concerns you!
Make sure that any broker you choose is living up to all state licensure requirements.
Be completely honest with your business broker. After all, he/she’s the one that’s going to help you get the money you want!