Do business brokers own their own business?
Yes, business brokers can own their own business through a variety of models. Some brokers choose to operate as independent owners—establishing their own brands and choosing legal structures like sole proprietorships, LLCs, partnerships, or professional corporations. Others prefer to work within established multi-broker offices or align with a franchise system, where they benefit from a recognizable brand and proven support structures.
This flexibility means that business brokers can tailor their operations to fit their personal business goals. Independent brokers enjoy higher autonomy in decision-making and must build their own marketing strategies, while franchise brokers leverage existing business models and ongoing assistance from their franchisor. In either case, owning a brokerage typically involves meeting state-specific licensing requirements and registering the firm under the appropriate legal entity.
The industry showcases this diversity with around 11,411 individual business brokers spread across approximately 3,593 business brokerage firms in the U.S. Whether you are considering a career as a business broker or looking to partner with one, understanding these options is key to making informed decisions. At Iconic, we value transparency and a comprehensive approach, guiding business sellers through every step of the process with expertise and a technology-driven platform.
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Business brokers have the option to set up their own brokerage using at least 4 distinct legal structures—such as sole proprietorships, LLCs, partnerships, or professional corporations—for flexibility in liability and tax management (source).
Brokers can choose to operate independently or align with a franchise system, with franchise models offering benefits like established branding and ongoing operational support, as detailed in the research (source).
Owning a business brokerage typically requires meeting stringent state-specific licensing and registration requirements, ensuring compliance with local regulations (source).
