Which Type Of Business Should You Talk To A Broker About?
Discover the types of businesses you should be talking about with brokers in this short video by Jonathan Jay, founder of The Dealmaker’s Academy. By watching, you’ll learn:
- How brokers are like real estate agents
- Why brokers will be so eager to discuss certain businesses with you
Prefer to read this? Here’s the transcript:
Hi, this is Jonathan Jay from The Dealmaker’s Academy.
Welcome to this series of tips videos on buying and selling business.
And today, I want to talk to you about brokers and why there are some businesses that brokers represent that are better to talk to them about than other businesses that brokers represent.
So, again, if we draw an analogy with the state agents, the state agents have houses and properties that they have just put onto the market everyone’s very excited about.
They’re doing lots of viewings and they also have properties which have been on the market awhile, don’t get very many viewings.
The sellers are frustrated with the agent, and it is exactly same with businesses.
There are businesses that have just come onto the market, lots of interests.
The brokers have that business at the top of their minds.
They’re talking up that business.
And there are businesses that they’ve had on their books for maybe a year or more where the seller is getting annoyed with the broker, getting frustrated, maybe.
Trading has gone down in the last 12 months.
Those are the businesses you should be speaking to a broker about.
Not the shiny new ones that have just come onto the market where everyone’s talking top, top, top value.
What you want to be talking to the broker about is the businesses they’ve got on the market that haven’t sold because maybe you can help or maybe you can have a solution for that setup.
It’s a little bit more creative than just writing a check, but those are the businesses you need to be talking to and those are the businesses you need to be asking the broker about.
We’ll be talking more about this in future videos.
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Speak to you soon.
