What is the standard business broker fee?
Typically, the commission will be anywhere from 8-12% of the total sales price paid at closing. The range of the percentage depends mostly on the business size and its complexity.
What is the purpose of a business broker?
A business broker is an individual or company that assists mainly in the purchase and sale of small, main street businesses. Their tasks include helping companies to secure a favorable price, submit paperwork correctly and fulfill any licensing and permitting requirements.
How do I choose a business broker?
How to Choose the Right Business BrokerCheck a potential broker's credentials, track record and client references. ...Look for a broker who listens to your needs and prioritizes your interests. ...Find a broker with a solid sales strategy and confidentiality plan.
Can you make money as a business broker?
Business brokers are typically very well compensated by business owners via commission. The commission percentage usually hovers around 10 percent to 12 percent — and this can result in substantial profit for brokers when you're talking about multi-million-dollar businesses.