A Little Known Secret Soon to Hit the Business World
During the next ten years, we will experience the largest transfer of privately held businesses in US history. In this coming „tidal wave“ of business sales, those who position correctly will find themselves prospering during the coming years of economic uncertainty.
Singapore Business Broker
Here are the facts:
- 76 Million Baby Boomers Are Nearing Retirement
- 12 Million Private Business Are Owned By Baby Boomers
- More Than 8 Million Businesses Will Sell
- $11 Trillion Worth Of Assets Will Change Hands
A career in business brokerage allows you to be completely independent, make your own hours, earn unlimited income, and have fun building a career around a valuable service that is in desperate demand.Frequently Asked Questions:
What Does a Business Broker Do?
A business broker is a person or firm who/which acts as an intermediary between sellers and buyers of small businesses.
How Do Business Brokers Earn Money?
There are three forms of Brokers compensation; hourly, retainer, and success fee (commission upon a closing). A Broker may use any one, or combination of these when providing services. The most common form of compensation is a success fee of 10%-12% of the purchase price paid at settlement.
How Much Do Business Brokers Earn?
The Entrepreneurial Studies Department of Babson College, Babson Park, Massachusetts conducted a national survey of business brokers. The average annual gross commissions were $253,000.00. Earnings were produced from an average of five sales.
How many Business Brokers Are There?
There are approximately 3,500 business brokers nationwide. (Clearly not enough to handle demand)
Do You Have To Be Licensed?
There are no specific business broker licensing requirements at the Federal level and only 16 states require you to have a real estate agent license to sell businesses.
How Do You Become A Business Broker?
Step 1 – Do some background research. Learn all you can about the business industry and ask yourself, do you have the skills to get started? On the other hand, are you willing to learn the skills necessary to succeed?
Step 2 – Identify the best way for you to get started. There are many ways to get started. What suits you best? Staring part time from the comfort of your home office or buying your very own business brokerage franchise and getting started full time from the very beginning.
Step 3 – Make the decision to get your career as a Business Broker on the fast paced track to success.