What is a Business Broker?
Business broker connects one who wishes to buy a business with one who wishes to sell the business. They are an agent to bridge the sellers and buyers of business. They help seller to sort our their financial numbers prior to the sale, value the business, advertise the business for sale in a tactful manner, meet up with potential buyers, get them to make an offer and negotiate an acceptable selling price for the business. The broker also assist in getting the accountants to perform due diligence. Normally, a business broker will represent the seller and another business broker will represent the buyer.
Typically a business broker who are representing the seller will provide consulting service like how to make the business more attractive to buyer, restructure the business to facilitate the sale, bringing in the intangible assets to increase the value of business, etc. By taking over the sale of business from the business owner, the broker relieves the owners from the pain of arranging all the administrative work necessary to sell the business at an attractive price.
"The best way to connect to Potential Buyer is through us"
Business Broker or Agent in Singapore and their Fees
Selling a business is never easy especially in Singapore. We don't have the culture or practice of selling and buying business. As such, appointing a business broker to take charge of the sale of business is important to get the sale done more quickly. The broker knows where to find the buyers and can target their marketing campaign towards these buyers. When it comes to price negotiation, they are aware of the recent transacted prices for similar businesses. Therefore, having them representing you in the negotiation is always an advantage.
Business broker usually get a percentage of the selling price of the business as the commission for service rendered. Some broker may accept a fee on contingent basis (i.e. the fee is only payable when the sale is successfully). However, most brokers in Singapore quote a fixed fee for time spent plus a commission for successful sale of business.
If you are keen to sell your business or purchase businesses which are put up for sale, contact us now. We are able to link you up with potential business buyers and sellers in the shortest time possible.
We provide business sale and purchase services (i.e. business brokerage service). We bring business owners who are willing to sell their business to meet potential buyers who are willing to buy over the business. Our goal is to ensure that the sale of business is successful.