When it comes time to sell your business, choosing the right business broker is an important decision.
For many business owners, selling a business is something they will only do once. Having an experienced broker who understands the process, knows how to prepare a business for sale and can guide you through the transaction can make a real difference.
The Australian Institute of Business Brokers (AIBB) is the peak industry body representing business brokers in Australia. AIBB members undertake industry-specific training and professional development and are required to operate in accordance with the AIBB’s Code of Ethics and Professional Conduct.
So, why should you consider using an AIBB Business Broker?
Specialist business broking knowledge
Selling a business is very different from selling other assets.
An experienced business broker understands how to prepare a business for sale, assess its financial performance, determine an appropriate market position, prepare the sale documentation and confidentially market the opportunity to potential buyers.
They also understand how to manage buyer enquiries, meetings, negotiations, offers, due diligence and the many issues that can arise along the way.
Training and professional development
AIBB provides training specifically developed for the business broking profession.
Members also undertake ongoing professional development to keep their knowledge and skills current across areas such as business appraisal, negotiation, marketing, legislation, compliance and transaction management.
Professional and ethical standards
When selling your business, you are entrusting your broker with highly confidential information and relying on them to represent you throughout an important transaction.
AIBB members are required to comply with the Institute’s Code of Ethics and Professional Conduct, which includes principles relating to integrity, professional competence, confidentiality, conflicts of interest, client communication and professional behaviour.
These standards provide an important professional framework for AIBB members and the way they work with their clients.
Look for an experienced and qualified broker
Membership of an industry body is important, but experience and qualifications also matter.
Within the AIBB, experienced brokers can achieve the Certified Professional Business Broker (CPBB) accreditation, recognising their experience, training and professional capability.
Some AIBB members also hold the Registered Business Valuer (RBV) qualification, having completed specialist training in the valuation of small and medium-sized businesses.
When choosing a broker, we recommend looking at their qualifications, experience, track record, knowledge of businesses similar to yours and, importantly, whether you feel comfortable working closely with them throughout the sale process.
Zircom Business Brokers
At Zircom Business Brokers, we have been long-standing members and supporters of the Australian Institute of Business Brokers and the professional standards it promotes within our industry.
Our Directors, David Screaigh CA and Catherine Screaigh CA, and Michelle Barrington, are all Certified Professional Business Brokers (CPBB) and Registered Business Valuers (RBV).
Together with the team’s accounting qualifications, we bring many years of practical experience in valuing, preparing, marketing, negotiating and selling businesses across a wide range of industries.
Selling a business is an important decision. We believe business owners should have experienced and appropriately qualified people alongside them throughout the process.
If you are considering selling your business and would like to have a confidential discussion about its potential value and the sale process, please feel free to contact us.
