Franchise Spotlight: Business Brokers
With wide-ranging support from head office, franchisees can concentrate on helping clients sell businesses.
Business brokers oversee the sale of businesses or franchises on behalf of sellers or buyers. This includes preparing businesses for sale, setting asking prices, finding buyers, conducting negotiations and due diligence, and closing deals.
Business brokers handle a comparatively low volume of high margin transactions and enjoy low overheads given that inventory and, potentially, premises aren’t needed.
Sales, interpersonal and negotiation skills are vital in this relationship-driven business, along with knowledge of the business-sales process and the latest news of industry trends in the local business-sales market.
Franchise market analysis
Reputable franchisors will provide extensive training plus administrative, marketing and operational support, while customers have the reassurance of a trusted brand in a sector where brokers can operate without industry accreditations.
Aspiring franchisees should quiz franchisors about franchise royalties, sales commissions, statistics on the volume and variety of businesses sold, whether they offer business valuation and advisory services, customer testimonials and whether they can speak to existing franchisees.
If business brokerage franchises appeal, they may also consider other business-to-business franchises.
Finn Business Sales is a part of the Finn Group, which claims to have Australia’s largest network of business broker offices and a business-sales process – the ‘Finn Selling System’ – as effective as any around the globe.
The group is aiming to open at least 50 offices across the country to service the local market, and to expand internationally.
Founded in Florida in 1979, Transworld business brokers promises franchisees a low-cost investment and freedom over working hours and practices. Franchisees combine business brokerage with franchise consulting (helping franchisees to conduct market research and find the right franchise) and franchise development (helping franchisors to find franchisees).
Network Infinity Business Brokers also promises franchisees low overheads plus access “to a huge list of vendors and buyers” and extensive support from head office.