True Business Buyers Advocates ONLY work for buyers. They have no direct affiliation with a Business Brokerage firm, in other words, they are NOT employed by a Business Brokerage firm, they are NOT Business Brokers - they are totally independent.
A buyers advocate is common in the real estate industry. People looking at buying a home engage the services of a buyers advocate to help them. Their services extend from searching for a home, corresponding with real estate agents and ultimately representing the buyer at an auction or negotiating on a private sale.
The buyers agent takes the emotion out of the transaction and is a service to those that are particularly time poor or inexperienced in buying property. Real estate is bricks and mortar where location is paramount to value and where a buyers advocates knowledge and expertise is a valuable resource
In comparison to real estate, buying a business is a minefield.
It’s not what you see as in a shop, office, warehouse or something tangible - it’s what you DON’T see that makes it a RISK.
A Business Buyers Advocate is there to assist a buyer and support them through the minefield.Services include:
- Searching for the right business to buy
- Investigating the business and determining whether it “stacks up”.
- Preparing an offer including terms and conditions
- Negotiating the deal on behalf of the buyer
- Assisting the buyer through to settlement
- Providing resources when necessary
A true Business Buyers Advocate ONLY works for buyers. They ARE NOT business brokers also selling businesses.
A true Business Buyers Advocate has no direct affiliation with a business brokerage firm, in other words, they are NOT employed by a Business Brokerage firm.
An independent Buyers Advocate has the buyers interest at heart, they are the client and it is the buyer who they will work for to get the best deal - not the seller
Buying a business is a risk but having a business buyers advocate will minimise that risk