Using a broker can significantly streamline the process of selling your business by leveraging specialized expertise and vast networks of potential buyers. Research shows that businesses sold through brokers have a 60-70% higher chance of a successful sale compared to self-represented sales. This kind of success is largely due to brokers’ comprehensive understanding of market dynamics, skilled negotiation techniques, and the ability to maintain confidentiality throughout the sales process.

Additionally, brokers often bring efficiency to the sales process by handling marketing, screening potential buyers, managing paperwork, and facilitating due diligence. Although broker fees can seem significant, these costs are often offset by the benefits of a broader buyer network and a reduction in the average time to close the deal, which is around 8.5 months. This is particularly notable when considering that only about 20% of businesses priced under $1,000,000 tend to sell without professional assistance.

Ultimately, whether to use a broker depends on your experience with complex business transactions and how much time you can commit to the selling process. At Iconic, we understand these challenges and have developed a proprietary, technology-driven approach through our Iconic Rail™ tracking system and a comprehensive 5-step process—from Discovery to Fund & Close. This ensures you stay informed, in control, and have access to a vetted network of qualified buyers across various industries. To learn more about our process and how we support business sellers every step of the way, visit our The Iconic Way page.

Stats

• Research shows that “Main Street” brokers typically work with businesses generating up to $1 million in revenue, while companies valued between $1 million and $50 million often require brokers with specialized fee structures and expertise.