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Best Business Brokers Compared

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Selling a business requires some specific knowledge and expertise. It’s far different from selling real estate or homes. That’s why many people turn to the expertise found with business brokers for these transactions. When searching for the best business brokers, our team researched companies coast to coast, seeking the good and bad reports from actual customers. Through our deep dive into the world of buying and selling businesses, we have chosen First Choice Business Brokers as the best business brokerage. It provides custom services for businesses that need them, offering the kind of representation that keeps clients involved and informed. First Choice began operating in 1994, so customers can trust its longevity and success rate.

The Best Business Broker for Most

First Choice Business Brokers logo

First Choice Business Brokers

Best for Most

With over thirty years of client satisfaction, First Choice Business Brokers has a fantastic track record of success in handling all kinds of business transactions from start to finish. They handle everything from franchise sales to valuation, all with full protection for all their clients.

Customers of First Choice Business Brokers greatly appreciate its agents’ ability to custom fit the brokerage’s representation to the situation. With almost three decades in business, First Choice’s agents can handle unusual circumstances with proven techniques. The agents do work as independent contractors, but clients receive the protection of the overarching First Choice franchise at all times.

First Choice handles business purchases and sales, as well as franchise buying opportunities for its clients. The brokerage will aid in determining the proper valuation of a business that is preparing to sell, helping to ensure a favorable transaction.

The 5 Best Business Broker Options to Consider

  1. First Choice Business Brokers — The Best for Most
  2. Murphy Business Sales — The Best for Canadian and U.S. Transactions
  3. Synergy Business Brokers — The Best for Mergers and Acquisitions
  4. Transworld Business Advisors — The Best for Finding Franchises
  5. VR Business Sales — The Best for Family-Owned Businesses

When It Makes Sense to Invest Into Business Brokers

Some people looking to purchase a business may have the experience and expertise to handle the entire process themselves. The same may occur for someone looking to sell a business. However, this would be rare. 

Selling or buying a business is far different from other types of real estate. Business brokers must deploy a large number of specific skills, including:

  • Determining the business’ value
  • Studying accounting records
  • Researching the market conditions
  • Marketing the sale to potential buyers
  • Understanding any rules for franchisees
  • Completing legal documents and requirements

The best brokers for buying and selling businesses will be able to provide all of these services and more to prospective clients. Having a professional available to handle these aspects of the transaction can provide significant peace of mind.

Given all this, here are a few specific situations where a business broker will be a great investment for you:

  • You’re buying or selling a business for the first time
  • You need to sell or buy a business quickly
  • You aren’t personally involved with the business you’re selling (e.g., it was owned by a deceased relative)
  • You’re expanding into a new type or scale of business

While you could certainly buy or sell a business yourself in any of these scenarios, employing a broker will almost certainly get you a much better deal and save you a lot of headaches. 

#1 – First Choice Business Brokers — The Best for Most

First Choice Business Brokers logo

First Choice Business Brokers

Best for Most

With over thirty years of client satisfaction, First Choice Business Brokers has a fantastic track record of success in handling all kinds of business transactions from start to finish. They handle everything from franchise sales to valuation, all with full protection for all their clients.

First Choice Business Brokers is a well-rounded brokerage, offering multiple services for both buyers and sellers. 

FCBB specializes in creating accurate valuations for businesses. This is a key feature for someone looking to sell a business. Should the business have the ability to increase its valuation prior to the sale by making a few tweaks, FCBB will be able to provide advice in this area.

For sellers, First Choice is able to dial in on the key aspects of the business. The brokers then can match up a specific feature of the business to the desires of a certain buyer. This capability allows First Choice to tailor its selling pitch to each potential buyer.

For buyers, the brokers at FCBB will take the time to understand exactly what the buyer is seeking and the budget available. Through this legwork, the brokers can be certain they will not waste the buyers’ time by showing properties that don’t interest them.

First Choice began its work in 1994, developing a network of brokers that serve a number of local areas in the United States. It uses brokers who have wide ranges of experiences and training, including in areas like accounting, banking, real estate development, insurance, and legal aspects of buying and selling businesses.

#2 – Murphy Business Sales — The Best for Canadian and U.S. Transactions

Murphy Business Sales logo

Murphy Business Sales

Best for Canadian and U.S. Transactions

To expand the potential market for purchasing or selling a business, finding a broker who offers services outside the United States can be helpful. Murphy Business Sales has offices in the United States and Canada. It can handle any complexities that business sales across borders cause.

With offices spread throughout the United States and Canada, Murphy Business Sales can provide buyers and sellers of businesses with a wide range of potential options. It primarily focuses on brick-and-mortar businesses, rather than digital businesses, for those who prefer this area of the market.

Beyond basic buying and selling of businesses, Murphy also has experience in areas including:

  • Mergers and acquisitions
  • Reselling franchises
  • Commercial real estate holdings
  • Commercial machinery and equipment
  • Business consulting

Buying and selling businesses located throughout North America can cause some challenges when working across international borders. Murphy has extensive experience dealing with these situations, though.

Within its business consulting services branch, Murphy will help existing businesses obtain financing for growth. It can use these services to help a business enhance its value while preparing for a sale as well.

When a business owner is planning retirement, Murphy offers services that aid in putting together an exit strategy.

Murphy began operations in 1994, meaning it has represented American and Canadian buyers and sellers in transactions for nearly three decades. 

Business brokers can work as franchisees for Murphy, but all of the offices operate under the same umbrella. Clients can count on receiving the same services and benefits from any of the franchisees, no matter their location.

#3 – Synergy Business Brokers — The Best for Mergers and Acquisitions

Synergy Business Brokers logo

Synergy Business Brokers

Best for Mergers and Acquisitions

Rather than an outright sale, some business owners who want to remain involved may prefer a merger. Synergy Business Brokers offers extensive experience with mergers and acquisitions, maintaining a significant database of customers and properties.

Business owners who initially meet with a business broker looking to sell sometimes may end up discovering a merger is a better option. Synergy Business Brokers is one of the best brokerages for those seeking to merge with a partner company. It also helps those seeking to acquire companies through mergers or outright.

It can deliver accurate market valuations for potential sellers, which is important when planning a merger. Accurate values allow both sides to receive fair treatment in the M&A transaction.

Synergy has been in operation since 2002. By focusing on mergers and acquisitions, it tends to constantly have a large selection of businesses available in its database.

One of Synergy’s primary points of emphasis is its ability to keep its brokered transactions confidential. This can be a huge benefit for certain companies looking to buy or sell that don’t want to alert competitors in the area to their plans.

For those businesses looking to sell quickly, Synergy maintains an extensive database of potential customers. Most of its potential customers and sales occur in the Northeastern United States, so its database may not be as beneficial for those looking to sell in other parts of the country, though.

#4 – Transworld Business Advisors — The Best for Finding Franchises

Transworld Business Advisors logo

Transworld Business Advisors

Best for Finding Franchises

Jumping into the world of business ownership can be easier when focusing on an established brand name through franchising. Transworld Business Advisors provides multiple services related to franchising, including advisory services to help the franchisee find just the right opportunity.

Those looking to become business owners may prefer to go with a well-known brand, rather than considering purchasing a smaller, local business. In this situation, owning a franchise may be the right option. 

Transworld Business Advisors is a brokerage that has extensive experience in the world of franchises. It offers a franchise consulting service, helping potential buyers figure out the best direction forward before they commit their money.

Beyond its services for potential franchisees, Transworld offers extensive business buying and selling services. It also delivers help for those interested in a merger situation.

Transworld itself operates on a franchise model. All of its franchisees work underneath the umbrella of the main Transworld company, ensuring a high level of service. 

Transworld began operations in 1979, and it has offices throughout the United States. 

#5 – VR Business Sales — The Best for Family-Owned Businesses

VR Business Sales logo

VR Business Sales

Best for Finding Franchises

When it’s time to monetize a family-owned business, VR Business Sales is able to provide advice on the best way forward. VR also offers multiple business brokerage services for those looking to buy or sell.

With so many opportunities in family-owned businesses, the focus of VR Business Sales seeks to match buyers and sellers in this area of the market. VR calls itself a boutique advisory firm, focusing on helping small businesses determine the best path forward.

It will advise small and family-owned businesses on the steps they should take. When family business owners are seeking an exit strategy for retirement or are looking to sell to shift the money into a new opportunity, VR is ready to help.

Should the business owner decide that selling is the correct next step, VR can help with brokering the sale. If the owner needs other services to try to increase the value of the business or to improve performance, VR’s brokers can provide advisory services.

VR also offers services that help those looking to purchase a business. Potential buyers can search for businesses in the United States and Canada. 

VR Business Sales began operations in 1979, and its headquarters are in Florida. VR offers agents the opportunity to purchase business brokerage franchises and operate under the VR umbrella.

Methodology for Choosing the Best Business Brokers

Through our research into the performances of the best business brokers, we found a few criteria that customers consistently sought from the brokers. We used these criteria to build our rankings of the top brokers for buying and selling businesses. 

Here is a breakdown of our methodology for creating our list. Hopefully, it will help you determine which criteria will be most important for your needs. Here’s what we’d recommend:

Consider The Broker’s Track Record

Certainly, not every business brokerage that has been in operation for a couple of decades will do a great job for you. And not every new brokerage is likely to fail.

Still, though, having a track record of success with buying and selling businesses is an important attribute. Customers we surveyed often pointed to the broker’s ability to cite past successes as being a key trust point.

To break this down a little further, try to make sure the broker has a track record of success in your specific market. For someone looking to buy or sell a business in a niche area, finding a broker who knows how to win in that market will provide an edge when negotiating any deal.

Before hiring a broker, ask for references that highlight past successes, especially in the area of the market in which you have an interest. 

All of the brokers on our list have a strong track record and have been in operation for at least two decades. VR and Transworld started operating their businesses in 1979.

Look For Key Services

Some business brokers will serve as a jack-of-all-trades, providing key services from start to finish. Others will focus on one or two types of services, allowing them to have a high level of expertise in certain areas.

Think about areas where you need the most help in your deal. If it’s only a few areas, you may be better served with a highly focused broker. If you want help in all areas of making this deal, an all-around broker like First Choice will be the better selection.

Some of the various services business brokers may offer include:

  • Finding sellers
  • Finding buyers
  • Finding merger and acquisition partners
  • Marketing the property
  • Advising on preparations to make before selling
  • Preparing accounting documentation
  • Creating an accurate business valuation
  • Handling negotiations
  • Doing due diligence on a business or buyer to ensure transparency
  • Handling the legal processes
  • Aiding in the transition after the sale

Some purchasers or sellers looking for businesses may want a brokerage that offers services internationally. Murphy Business Sales and VR Business Sales are two brokerages that deliver results throughout North America.

Find How They Will Maximize Value For You

For those looking to sell a business that’s struggling, a business broker can provide advice on ways to increase the value to a buyer. Understand that the process of improving the business’ prospects may take several months. But following the broker’s advice here can boost the sale price significantly.

For example, a broker may suggest that the business sell off a few parts separately first, especially if those areas are harming performance. The remaining business will have a greater focus and may be more enticing to buyers, driving up its value. 

First Choice offers a number of services in this area, helping businesses bump up their value prior to selling. Meanwhile, Synergy delivers some of the most accurate market valuations among business brokers, which yields a fair asking price.

Don’t Forget the Legal Requirements

Negotiating the sale or purchase of a business isn’t the final step. To carry the deal over the finish line, you may want a business broker who can handle all of the legal documentation.

Some brokers can create a purchase agreement that is legally binding. For some business deals, the broker may require the buyer to provide a legal document that proves the method of payment for the transaction. 

Local, state, and federal laws may apply to the transaction, and a broker with legal experience can help tremendously here. You may want a broker who can draft and verify all legal documents related to the transfer of ownership as well.

First Choice Business Brokers logo

First Choice Business Brokers

Best for Most

With over thirty years of client satisfaction, First Choice Business Brokers has a fantastic track record of success in handling all kinds of business transactions from start to finish. They handle everything from franchise sales to valuation, all with full protection for all their clients.

Summary

Whether a business owner is wrestling with the idea of selling a business or is eagerly anticipating a new stage in life, the best business brokers can help. Maximizing value is not always easy for a business owner on his or her own, but brokers specialize in this capability.

Our top choice among business brokerages is First Choice Business Brokers. It offers a wide range of services for those looking to buy or sell a business. Its services can help the buyer or seller from start to finish in the process, or First Choice can jump in at any point along the way.

For those who want a specific service emphasis in a business brokerage, several other brokers are available that can satisfy this requirement. Following our methodology should help you find just the right business brokerage for your needs.


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