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Two Types of Buyers Your Clients Might Run Into

LET’S TALK FRANCHISING

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As a Transworld franchise broker, you have all the skills you need to make deals for your clients. However, something your client is never prepared for are the types of buyers he/she may run into when pursuing a sale. To help prepare them for what to expect, here are the two types of buyers your clients may run into and how you can help.

 

Inexperienced Buyers

Your clients have most likely developed an attachment to their business even though they are looking to sell it. This means they are looking for someone they can trust to keep the business alive and prosperous.

When an inexperienced buyer walks in looking to buy your client’s business, it is up to you to convince your client if they are a good fit or not. Just because someone is inexperienced in the field does not mean they are not a worthy candidate for the business.

For example, Transworld franchise brokers are not required to have prior experience because they receive the training prior to opening their franchise. If an inexperienced buyer wants to buy your client’s business, a better way to determine if they are qualified is by examining their willingness and eagerness to learn the business.

Experienced Buyers

Finding an experienced buyer for your client could make a huge difference in terms of a sale. However, it could also cause problems as well. Since your clients have probably had these businesses for a long time and want to see them grow in a way that they want, they may seem cold toward the idea of someone who has experience and ideas for the business that may alter the hard work they have done. It is important to understand our clients to comfort and convince them to make the sale.

Franchise brokers often face these challenges when it comes to creating the best deal with the best buyer for their client. Both inexperienced and experienced buyers have potential in the franchising industry if they are willing to learn about the business and adapt. If you are a Transworld franchise broker and ever need help or support to satisfy your clients and find them find an ideal buyer for their business or franchise, contact us today!

If you are not a Transworld franchise broker but would like to learn more about how to join the team, check out our resource library!

Franchising: All You Need under One Business Model

Frequently Asked Questions

How many business brokers are there in the United States?

Industry estimates place the number of active business brokers at roughly 18,000 across the country. With approximately 33 million small businesses operating in the U.S., that ratio leaves significant room for additional brokers in most markets. Compare that to real estate, where the agent-to-homeowner ratio is dramatically higher.

Why is demand for business brokers increasing?

The primary driver is the retirement of baby boomer business owners, who own a large share of the country’s small and mid-sized companies. Combined with growing interest from younger buyers looking to acquire rather than start businesses, and the increasing complexity of business transactions, the need for qualified brokers continues to grow.

Is it hard to break into business brokerage as a new broker?

The learning curve is real, and building a client base takes time in any relationship-driven profession. However, the barrier to entry is low compared to many other professional careers. Training programs, franchise systems, and industry certifications can accelerate the process significantly. The brokers who commit to building their networks and learning the craft tend to see results within their first year.

Does joining a franchise help in a competitive market?

Yes. Franchise systems provide training, brand recognition, technology, and referral networks that independent brokers typically spend years developing on their own. Transworld Business Advisors franchisees also benefit from multiple revenue streams and access to a global network of over 1,000 brokers. To learn more about the opportunity, request information here.