One of the most common questions that people ask in Chicago, IL is “what are business brokers?” Business brokers, also known as “dealers”, work for a company that has been given an exclusive right to buy or sell products in a specific area. In Chicago, this means any broker who works with business brokers in Chicagoland will be licensed by city authorities.
What is a business broker in Chicago and what does he or she do?
Business brokers in Chicago match sellers who are seeking to sell their business, with buyers looking for a new opportunity. A business broker Chicago can also assist in negotiating the terms of the sale and purchase agreement between seller and buyer. There is no set length that defines how long it will take to close a deal; each transaction has its own timeline-based.
The difference between an appraiser and a business broker in Chicago, Illinois
A business broker in Illinois is a consultant that helps find prospective buyers and sellers of the company. An appraiser does not typically facilitate any sale or purchase, but rather renders an opinion on what the market value for the property in question might be. The two professions are different in other ways too: while both offer services to clients who need advice about the value of their property, the appraiser has more latitude to work with a wider variety of properties than does the business brokers in Illinois.
Why you should use a professional to buy or sell your business
Some owners decide to buy or sell a business in Chicago themselves, but this can be a costly and time-consuming process. To avoid making mistakes that could cost your business money in the long run, it is recommended you hire an experienced professional like Harvard Business Services who has seen many of these transactions before. You might also consider consulting with someone not only for expertise during the buying and selling experience itself but also for advice after the deal goes through such as developing an exit strategy following the sale that ensures continuity of customers and employees post-acquisition. Many brokers in Chicago offer consultation services so don’t hesitate to ask them what they have done for other clients in your situation.
Questions to ask before choosing a company to work with
The business brokers in Illinois review the list of questions.
- How do you find businesses for sale?
- What is your process?
- Who is your typical client?
- How much does a business broker charge? sell a business Chicago
- What is the process for getting paid when you are purchased through you as the broker?
American Business Acquisitions || Business Brokers / M & A Advisors
633 S Plymouth Ct Suite 708, Chicago, IL 60605