Home Based Business Opportunities - Business Broker
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Business brokers work as intermediaries between buyers and sellers. Such buyers and sellers could be in any category of business - small or medium and could deal in various business opportunities. Transfer of businesses involves lots of money. Revenue from business transfers in 1999 was at $300 billion and estimates state around half of such transfers were through brokers. Department of Commerce also indicates that one out of every four businesses exchange hands every five years.
What qualifications do I need to become a business broker?
The necessary qualifications for a business broker are-
· Good accounting and financial background
· Firm understanding about business laws
· Excellent negotiation skills
With these skills, you can start your brokerage business on small-scale and initially work from home. Thereafter you can expand and transform your home based business into a huge brokerage firm dealing in acquisitions and mergers of businesses.
How to set up my brokerage firm: You can easily set up your brokerage firm as a home based business by working from a spare room in your house. Utilize your garage or a part of your basement as your office of business broker. Use your residence phone and arrange for a few ledgers for maintaining accounts. Advertise through small assertive advertisements in yellow pages about your various services. You could also post sales letters advertising about services of your home based business. All these need low investment and you can set your brokerage firm.
How to succeed in your home venture: It is not necessary for you to have extensive experience in dealing with business houses to operate your home based brokerage business efficiently. Business broker needs efficient skills in dealing with people. Your work is to guide business owners while selling their businesses and bring them in contact with qualified and genuine buyers. You also need to help buyers buy profitable businesses and prevent wastage of their money.
Normally business brokers either charge a commission of ten to twelve percent on each deal or fix minimum fees ranging from $4,000 to $15,000. Average sale price of business is around $250,000 excluding real estate or inventory.
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