They can expertly value your business, identify potential buyers or sellers, and guide you through the complex legal and financial maze. Market Reach and Access: Forget shouting into the void – brokers have extensive networks, connecting you with qualified buyers and sellers you might never have found on your own.

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.

The first step in negotiating is understanding a business broker's standard fee structure. Most brokers charge a commission based on a percentage of the sale price, typically between 10 and 20 percent. Some brokers may be willing to lower their commission if they feel that they will have difficulty finding a buyer.