Yes, you should always use a business broker when purchasing or selling off a business of any size. Business brokers will draw from their experience and expertise to offer you guidance and professional advice to ensure you make informed decisions.

The best way to find a broker is by searching for local referrals. Find who's numbering businesses in your place and then sensibly verify their qualifications through your industry contacts. The recipes to get the information you need while maintaining a low profile prior to the sale.

Type of buyers: Business brokers may have relationships with a range of potential buyers, including individual investors and smaller businesses. Investment bankers, on the other hand, typically have access to a wider range of potential buyers, including strategic buyers, financial buyers, and private equity firms.

Business brokers are paid through commissions based on a percentage, typically upwards of 5 percent, of the sale price they secure for the company. For some companies, that may represent money well spent.