How to Start A Home-Based Business Broker Firm

Thinking about becoming a business broker? Get the information you need here.

Instructions

Difficulty: Moderately Easy

Things You’ll Need:

• Links In Resources At Bottom Of Page.

1. A Business Broker helps buyers and sellers of businesses come together, much like a real estate agent. A major difference in a business broker and a real estate agent is the regulation of the practices.
   To date only 16 states require a real estate license to sell businesses, and the field is not regulated federally. So, unless you’re in one of the few states that require a RE license, you can get started almost immediately.
   There are over 1,000,000 business owners selling their companies at any given time, providing a continuing demand for professional business brokers.
2. To get started you will need to do a considerable amount of research, such as what exactly does a business broker do, what types of tasks you’ll perform, the paperwork and contracts needed and much more.
   There are hundreds of websites that can tell you everything you need to know. The only problem is it could take literally weeks or months to find all the information you need and then put it together to actually start a business.
3. If you have that kind of time and don’t have the money to spend, it is very possible to do. But, if you would like to get started much sooner and are willing to spend in the neighborhood of $25, there are a ton of business broker starter kits available.
4. These business kits will give you all of the required information you need to get started. They break down the tasks a business broker handles, as well as the forms you’ll need and so much more.
   One that I found to be very useful is “Brokering Small Business Sales” (Link In Resources). This program explains how to be a home-based business brokerage even if you don’t have any money to start! They also provide you with a “Business Valuation System,” to determine a businesses value (you definitely need this) and many other valuable tools.
5. I highly recommend that you are fully confident that you know everything there is to know about business brokering, whether you spend a substantial amount of time researching or getting an e-course to study online before attempting to take on this business opportunity.
   Business brokers can make big money if properly trained. The key to being a successful business broker is knowing the profession. You must know this field inside and out because there are many procedures you must be capable of handling, and even more importantly, you must be aware that these procedures exist.

Tips & Warnings

• Study as much information as you can get your hands on.
• Look to other business broker sites for information you'll need to understand.