Complete Guide to Business Brokerage

The Complete Guide to Business Brokerage
400+ pages, the most recent 4th Edition, 8.5" x 11"

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This book belongs in every business broker's library, regardless of how long you have been in business. This professional guide is especially useful if you're an aspiring broker just getting into the business brokerage field.

This publication, now in its fourth edition, is the definitive book on business brokerage. It covers all aspects of the field; from how to find and take a listing for a profitable business for sale, to successfully managing the brokerage office.

Whether you're just beginning your business broker career, are already a seasoned veteran, or brokerage office manager, you will definitely learn and profit from this excellent book!

This publication contains over 40 years of very successful business brokerage experience:

Introduction to the field of business brokerage
How the numbers work in a brokerage office
The brokerage office: location and layout
What fees and commissions do you charge for your services?
Getting ready to meet prospective sellers
Prospecting for profitable listings
Listing a business for sale
Determining a valuation for the business for sale
Marketing and advertising your listings
Working with the buyers and verifying qualifications
Selling the business so it stays sold
Closing the sale of the business
Recruiting business brokers for your brokerage office
Managing the day-to-day operations of your brokerage office

This book is an absolute must-have for every business broker to have in their professional library to stay "on top of your game." And, it's a veritable GOLD MINE of information for those of you just getting into this very dynamic and extremely lucrative field!

Introduction

This book provides much of what a business broker needs to know to be successful in the field of business brokerage. It also provides the key ingredients for successfully managing your brokerage business, whether you are a sole practitioner or managing an office of several brokers. Also, contained in the first section, if you're considering entering the industry, this book contains the "rules of the road," the basics as I call them.

This book is a real "how-to" program for the business broker. It contains very little theory and a great deal of practical advice. Although I try to answer the "why" most of the book is focused on "doing." My feeling is that if you don't make money as a broker in a fairly short period of time, you won't be around too long. If you make money and become successful then there is plenty of time for you to search for the answer to why. Business brokerage is a hands-on, "get-out-and-do-it" business. Some brokers have not been successful because they have spent too much of their time trying to analyze the theory or working on their business plan. This book contains the "nuts and bolts" of the business brokerage business and how to maximize your chances for success.

I have taken the best of my other books, Business Brokerage Basics and Business Brokerage: Managing For Profit, revised, deleted, rewritten, and added a lot of new material including five new sections. The graphic designer and editor, have given the book a refreshing format that makes it very easy to read.

I have incorporated throughout the book reprints of my Old Pro columns and articles from The Business Broker newsletter. I have done this because I think they provide a different viewpoint of the material discussed, or an amplification of it. Although I wrote the Old Pro columns, they reflect the thoughts and viewpoint of my mentor G.R. (Russ) Wright. I subsequently married his daughter who now works with me. She was very quick to point out when I would write something not quite the way her father would have phrased it by saying, "My father wouldn't have said that." My highest compliments are from those who knew "The Old Pro" and agree that he was just the way I describe him in the column and that I have captured the essence of what he would have said in exactly the way he would have said it (with only a slight exaggeration). I also feel that these columns add the all-important human aspect of the business, and that the knowledge imparted is as relevant today as it was years ago.

Although this book contains the very essence of the business brokerage business, I think that there is much for the experienced broker in this book. Whether you are actively selling businesses, or managing a brokerage office, you will profit from reading this guide. A lot of it will be familiar to experienced business brokers, but I'm confident that there will be a lot of knowledge or information you don't have, or have forgotten. This new publication contains 35 years of business brokerage experience.

If you are just entering the field, Welcome! It's a wonderful profession, financially rewarding and a lot of fun. Master the basics and follow them and you're off to the first step to a successful business brokerage career. Tom West

About the Author

Mr. Tom West is the publisher/editor of "The Business Broker" newsletter and the author of "The Resource Handbook for Business Brokers and Intermediaries" and the "Complete Guide to Business Brokerage". He is a founder, past president, and former executive director of the International Business Brokers Association (IBBA). He is a frequent lecturer and seminar leader. Mr. West is probably the most knowledgeable individual in the country today concerning the issues of buying or selling small to mid-sized businesses.

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