There are several different types of business brokers, including:
Multi-service brokers: These brokers offer several, but not a complete range of services, including helping with valuations, marketing the business for sale, and assisting with the negotiation and closing of the sale. They don’t offer legal services and rarely have a hands on preparation to increase value.
Limited-service brokers: These brokers typically offer a more limited range of services, such as marketing the business for sale and assisting with the negotiation process.
Online brokers: These brokers use the internet and other digital tools to help facilitate the sale of a business. They may offer a range of services, including marketing and negotiation assistance. Often however they are only listing a business on a website.
Business brokers can be beneficial to business owners because they have the expertise and resources to help sell a business quickly and efficiently. They can also help business owners get the best price for their business.
At Dexterity Partners we provide a full-service, end to end which involves legal services which as well as providing the completion of the Sales and Purchase Agreement (SPA) at the end of the process. Usually the SPA would be prepared by lawyers separate from the brokers and it would be on the business owners to appoint a legal firm to carry this out. By combining all in one at Dexterity Partners we not only provide a truly end to end service, but also one that delivers greater service and is more cost efficient as well as convenience by including the legal team from day one. It means a Seller has one point of contract for all issues.