Conversation with a business broker...?
I'm writing a story in which my character goes to a business broker to sell his shop. Hence, I'm in need of a little authentic detail. What would be a typical conversation between a business broker and a seller? What would be some of the opening remarks? etc.
- Anonymous9 years agoFavorite Answer
A seller's typical initial interview with a business broker would involve completion of a listing agreement (similar to a listing agreement with a real estate agent) and a checklist or questionnaire to enable the broker to determine exactly what's for sale and at what asking price. The broker would also ask for historical financial statements, and would also ask for background information about the seller, why the seller wants to sell, whether transitional assistance from the seller is available, etc. The initial interview would normally take an hour or two, depending on circumstances specific to the business being sold, and depending on the seller's degree of preparation.
I'm not sure how this will fit into your story, or how much detail you want to include, but I hope this helps.
- Anonymous7 years ago
Once you have selected the broker you believe will do the best work for you, the broker will require you to sign an engagement letter detailing your working relationship. This letter states the terms of the services and the fees you will pay. Most engagement letters have standard language; some of the elements you should expect are:
- The services you are hiring, such as preparing a marketing brochure, working with specialists on your behalf, advertising your business's availability, filtering inquiries, and recommending worthy prospects. - Limitations of the services the broker will provide. - A term for performance; 3 - 24 months is typical. - Client's responsibilities in support of the effort. - A disclaimer describing the broker's potential for performance. - A description of the fees, discussed below. See More...
- 5 years ago
First of all whenever you go to the business broker for sell your small business or shop, he/she will ask some important things about your business like location of business because the price of your business or shop will varies according to the areas and also ask about the total areas of your shop and next thing is licence and all the legal documents and then you will be asked for the age of your shop and then finally he/she will ask for your desire value of your shop and then, after calculating and considering all the things, he/she will tell you the final expected price of your shop and also tell about his/her brokerage charges.