Buying an existing business is not always an easy transition. One of the steps to buying a business is getting a business broker. Usually business brokers will help with the sale of the business for a commission percentage. They can help you find the business you are looking for, broker a deal and then you are buying an existing business, you have always dreamed of. Approximately 50% of American dream of owning a business, according to a BizBuySell poll. Unfortunately only 50% of sales agreements ever make it to the closing state of a business sale and 90% of people looking for a business never end of completing the transaction.
What is a business broker? A business broker can help you with buying an existing business. They usually draw up legal paperwork dealing with the buying and selling of a business in order to be sure of accuracy on both ends. A business broker can negotiate the price of the sale, on your behalf, when you are buying an existing business. Business brokers also bring exposure to businesses that are for sale and markets these business to potential buyers who are looking into buying an existing business.
Right now, in 13 states, it is required of business brokers to have a real estate license. The state of Florida is one of these states that requires them to have real estate licenses in order to practice legally. The compensation rate for brokers range from 5% to 15%. So if you are looking into buying an existing business, you will want to get a business broker and go from there. More info like this.