Business brokers buy and sell businesses for clients. Business brokers are experts at valuing and seeing the potential of commercial properties and assets. This line of work can lead to major financial rewards, and can build a personal asset base very quickly based on commissions and capital gains.
Business brokerage is based primarily on commercial transactions, but may include advanced consultancy work at higher levels. The essential requirements are for a strong knowledge base and excellent business skills. Business brokers typically have multiple business qualifications and extensive experience in particular industries, although some business brokers are 'generalists', working with a range of different types of businesses for sale and purchase.
Business brokers are required to have licenses in some jurisdictions, and with these licenses come obligations and regulations. These requirements vary considerably between nations and sometimes even between states in the same country, like in the US. Regulations may also specify mandatory qualifications.
Business brokers generally develop their careers as business ventures, expanding their reach within their markets and building capital. Because business brokers usually operate as a loose network of brokerages, buying and selling businesses to interested parties, career progression includes a range of associations and opportunities for developing the brokerage.
This environment means that career progression is highly individualized, based on business skills and to some extent reputation. Business brokers are used by their clients to get best values, both as buyers and as sellers, and build a client base across industries, rather than particular clients.
This is a profession for people with extremely strong business talents. Business brokers may have to manage brokerage situations in which issues and values are very complex, and quite a lot of bargaining and haggling is involved. Successful business brokers are often sought out by major corporations to undertake acquisitions and sales specifically because of their expertise in these sometimes tough roles.
If you're looking for a business career where your intelligence and experience are your primary professional skills, this is it. It's strongly recommended that anyone looking at careers in this field does their research thoroughly, and gets professional guidance in terms of career options and the realities of doing business on this basis.
Employment examples - Business brokerages, consultancies, areas where purchases of businesses require third party involvement.
Why this job?
To provide advisory services and conduct profitable business through transactions.