Here is tip #2 for talking with a business broker: Know exactly what you can put down on the business.
If you are not prepared to supply your broker with personal financial information, you probably will not get much help. Financial capability is an important factor that helps to determine the price range of the businesses you should consider.
A signed letter from those who would be investing in your acquisition describing their backing is a very powerful attention grabber. Do not assume anything. Know your support level before you and everyone else does a great deal of work to find an acquisition candidate only to find out your investors did not materialize.
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This information was provided by
Rose Stabler, Managing Partner at Certified Business Brokers in Houston, Texas.
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