John, a 30-year veteran of corporate telecom and network systems, wanted his own business. He and his wife never thought that pool cleaning would be their business, but six months after their purchase, their operation is thriving.
What you need to know is that they bought their business. None of the startup woes that typically plague small businesses, just direct ownership and they went straight to work. A business broker made it possible, helping John Smee break away from the corporate world and become his own boss.
If you’re looking to have the same impact in an entrepreneur’s journey to business ownership, explore opportunities for franchise brokers.
Banking on Opportunities, Not Fear
As a broker, it’s your job to find your customers a business that fits their capabilities and offer solutions to help them grow. It’s also your job to set their expectations right, and to be patient.
Business brokerage is as customer-focused as they come. Clearing a sale isn’t about pushing a business to buyers. It’s about finding a venture that fits their needs. There’s training to do, research to conduct, and so much more. The value in your service is eliminating the initial hard work for people who want a business.
Owning a business is a scary, expensive proposition. Most people look at business ownership as this singular chance to make a dream come true or it’s bust. They want a construction company, a café, or a consulting firm, which are some of the most popular small businesses in America.
Convincing would-be business owners will entail laying out all the facts. Opportunities, market trends—clients need a complete picture before going through with a sale.
Also, like hiring an agent, hiring a broker is a process. The Smees evaluated several candidates before landing on a good business broker. It’s the right move since, currently, only 17 states require business brokers to have a license, signifying proficiency in the field.
It’s only understandable for future entrepreneurs to be meticulous about choosing which business broker to trust with their money. If they’re going to part with a chunk of their life savings, they want a professional who can provide adequate guidance and recommendations.
Brokering Business as Your Future
As the Smees can attest to, buyers may have to be less idealistic and more practical in their pursuit to be business owners. It makes more sense to serve the needs of the industry, rather than wait for the perfect enterprise to come along. On the upside, it’s the perfect time to go “shopping” for businesses.
Twelve million privately owned small businesses will change ownership in the next 20 years, as baby boomers are looking to sell them. Seventy percent of this $10-trillion sector will be up for grabs, and for people planning to own a business, this is the perfect time. Buyers might find an enterprise that ticks all the right boxes for them.
And this is where franchise brokers come in. A future in brokering businesses look brighter than ever, and the only thing that’s missing is you.
Get professional guidance as John Smee. And find adequate support that can help you hit the ground running as a business broker.