Business Broker Guide

Peter Behgoozi asked:


I own a small business and order product from China. Every company claims to be a manufacturer, but it is apparent after a few orders that I am dealing with a broker and not the manufacturer directly. Is there a list anywhere or a way of verifying I am dealing directly with the manufacturer without expensive trial & error?

tabb1999 asked:


I’m entering year five of a small business I’ve started. Gross sales $250K in 2009, net cash flow about $75K. Provable top 5 in the market. Startup plan was to sell after five years and I’m itching to move on to the next project. I’m an entrepreneur, not a manager, and I’m ready to start planning my exit strategy. There are plenty of people who want to list the business, but how do I find the one who will maximize the value to me without leaving me personally exposed if the business fails to thrive under the new management? What questions do I need ask potential brokers to help me find “the one”? Please don’t take this as an opportunity to solicit or to make specific recommendations of brokers.

redgirl asked:


I have a small business and I want to know who do I talk to about getting liability insurance for my business? What kind of insurance broker do I talk to?

Side Burner asked:


Let’s say a broker has given a loan to a small business but the business fails to pay him back. Is the broker allowed to take the small business for himself? Or does the bank get the business?

Chgo1978 asked:


I just recently signed a listing agreement for my small business with a business broker. I have now decided that it would be best to close the business all together. Will I be able to get out paying a commission — Here’s one of the points on the listing agreement:
3. Seller agrees that if this listing is cancelled or the property withdrawn from sale during the listing term by Seller, the
commission shall become immediately due by Seller to Broker. If Seller refuses or is unable to comply with the listing
terms for any reason, thereby preventing disposition of the property during the listing term upon the terms set forth above,
the commission shall become immediately due by the Seller to the Broker.

Chgo1978 asked:


I just recently signed a listing agreement for my small business with a business broker. I have now decided that it would be best to close the business all together. Will I be able to get out paying a commission — Here’s one of the points on the listing agreement:
3. Seller agrees that if this listing is cancelled or the property withdrawn from sale during the listing term by Seller, the
commission shall become immediately due by Seller to Broker. If Seller refuses or is unable to comply with the listing
terms for any reason, thereby preventing disposition of the property during the listing term upon the terms set forth above,
the commission shall become immediately due by the Seller to the Broker.

Texas Hobo asked:


Had excellent credit a yr ago…750 scores…just went through a nasty divorce and I’m trying to pick up the pieces. Business was good this yr, but my attorney costs was over $80k and that has put me in a hole. I have accounts receiveables, but am in executive search business and cash flow not expected to get better until Feb 08. Meantime, I have IRS on my back…would like to pay them off. Any ideas?