The first-of-its-kind review aims to help business owners navigate the world of business brokers.
MoneyHub Founder and Head of Research Christopher Walsh says:
"Business Brokers don't come cheap; their success fees are typically in the range of 2-10%, with an average total business broker cost sitting around 5% (but this can vary widely depending on the size of the transaction).
"Given the costs involved- if you sell your business for $500,000, $25,000 will be paid to a business broker – we wanted to publish a definitive guide to selecting a business broker".
"Selling your business is a unique process - brokers have the experience and the contacts, but you have an ultimate say as to whether or not you'll accept what's offered. We want to make this clear and ensure business owners know they have the power even if the process is unfamiliar".
"Choosing a good business broker takes some time and effort. Many of them will be competent at their jobs. However, some will be better than others, as in any profession. Our guide highlights what business owners need to know. For example, looking at the percentage of businesses they've sold out of all the businesses they've tried to sell is a good place to start".
MoneyHub will update the guide, which features a list of business brokers (with no affiliation to MoneyHub) periodically.
More details: Business Brokers