To launch a business, you’ll need to take the first step in finding the right business broker. Find out what goes into selecting a Black Business Broker and how to find the right one for your needs.
The key is choosing a firm that will help build your business at every level from start-up to expansion. With so many brokers across the US, it’s easy to get lost or confused. This article breaks down what you need to know and consider when making this vital decision.
What is a business broker?
“A business broker is a professional who assists individuals or companies in buying and selling businesses, or providing other related business services,” says J.J. Stirpe, founder and principal of Black Business Brokers. “It’s my job to connect buyers with sellers and also to help businesses network with one another.”
Do you need a Black Business Broker? Why would you hire one? What if? If you have these questions, then it’s time to consider the answers.
According to the US Small Business Administration Office of Advocacy, Black business owners in America face particular challenges. Why is this? It is because they can be misunderstood by other Blacks who are not involved in business. Black consultants, accountants and financial advisors may offer these business owners biased advice and steer them towards other companies that have no interest in servicing the African-American community.
This is why a Black Business Broker can be your best bet in finding the best African-American-owned businesses for your needs. By hiring a Black Business Broker to assist you, you will be steering clear of companies that don’t service your specific needs and gain access to those who do.
Are there really Black Business Brokers?
If you ask many people who are seeking business services, they will likely tell you that there’s no such a thing as a Black Business Broker. Blacks may understand this concept, but it seems they don’t agree with it. At the same time, they may seemingly not care if there is a Black Business Broker or not.
Here are some reasons why:
Many Blacks believe that finding an African-American-owned business to provide their services is easy and the market is saturated with them. As a result, Blacks believe that Black Business Brokers are superfluous. This could not be further from the truth. You can’t just search for a business that is African-American-owned on the internet and expect them to show up in your email or phone book. You need to locate and reach out to these businesses through a Black Business Broker.
Other Blacks believe that Black Business Brokers are too costly, charging exorbitant fees for their services as compared to other professionals. It is important for you to understand that Black Business Brokers charge no more than any other professionals would charge and in some cases less. If a broker’s fee seems like too much, it’s best that you seek another one who understands your needs and expectations better.
A Black Business Broker has the experience to assist you in finding the right business to fit your needs. If you don’t have the right idea when it comes to identifying a business that fits your needs, you may not find it. Or, if you have found a business, but it is not what you are looking for, then a Black Business Broker can help lead you in the right direction to ultimately choose and avail of the services that will best suit your needs.
How many Black Business Brokers are there?
There are 447 active Black Business Brokers across the US according to their website. You will want to first call and speak with a Black Business Broker to see if he or she can help you launch your business.
Can I use their service even if I’m not Black?
Yes. If you are a minority who is looking for African-American-owned businesses to serve your needs, then a Black Business Broker is for you. These same services are available for everyone. That is what makes them unique as compared to other business services that target niche markets only.
Are there any websites where I can find any Black Business Brokers? Online directories are also good options as well.
You can find a Black Business Broker through online directories or telephone books. You may also want to search online for a business broker using keywords such as “business broker,” “African-American business owner” or “Black business owner.”
What should I look for in selecting and selecting a Black Business Broker?
There are many qualities, attributes, and factors that you should consider when seeking the services of a Black Business Broker. These include:
Education, experience and training – You’ll want to ensure that Black Business Brokers have the education, experience, training and certifications needed to assist you with the sales process of your business.
As you can see, there are so many reasons to hire a Black Business Broker to assist you in finding the right business to buy or sell. Whether you are looking for an African-American-owned business or any other type of business, a Black Business Broker can help you gain access to that service or service that will best fit your needs. You may also want to call and speak with a Black Business Broker today and request that he or she help you launch your business.