If you’re looking to buy or sell a business, you may have come across the term “business broker”. But what exactly does a business broker do? 

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A business broker is a professional who assists in the buying and selling of businesses. They act as intermediaries between buyers and sellers, helping to facilitate the entire transaction process. From initial consultation to closing the deal, a business broker plays a crucial role in ensuring a smooth and successful business transaction. Howard Law provides all the services of a business broker with an added touch that you wont be able to find with your typical broker - read more to find out what sets up apart!

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Assists in Gathering Documents

 

One of the key tasks of a business broker is to assist in gathering all the necessary documents and information related to the business being bought or sold. This includes financial statements, tax returns, lease agreements, and other important documents that are essential for the due diligence process.

 

Lists the Business

Once all the necessary documents have been gathered, the business broker will create a comprehensive listing for the business. This listing will include details about the business, its financial performance, industry trends, and other relevant information that potential buyers need to know.

 

Finds a Buyer

After the business is listed, the business broker will actively market the business to potential buyers. They will use their network and marketing expertise to attract qualified buyers who are interested in purchasing the business. This helps to ensure that the business is exposed to a wide pool of potential buyers, increasing the chances of a successful sale.

 

Facilitates the Time of Due Diligence

Once a potential buyer has been identified, the business broker will facilitate the due diligence process. This involves allowing the buyer to review all the relevant documents and information related to the business to ensure that they are making an informed decision. The business broker will also help to address any questions or concerns that may arise during the due diligence process, ensuring that the transaction proceeds smoothly.

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The Difference with Howard Law

With Howard Law, we provide all of the same services a business broker provides, but with the expertise and knowledge of a legal backing. Every broker you speak to will talk to you about their standard "boilerplate" asset purchase agreement they will have you and the buyer sign and explain to you that you don't need an attorney cause they've done all the work for you - this is wrong.

 

This "boilerplate" document is usually no more than a couple pages and covers only the bare minimum of what an asset purchase to cover. But every business is different and every situation is different, for instance, what if an asset purchase agreement causes you to lose all of the value of your assets? How would you know of a future potential legal issue prior to signing?

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You should have an attorney review every document you sign, especially when it comes to selling your business, protecting your future or retirement income. At Howard Law we provide both services all included in the same price as your untrained business broker - sometimes for even less! Contact us today to discuss your options.

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