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Business Brokerage is an exciting and rewarding profession! It provides the opportunity to help entrepreneurs (sellers) receive a cash benefit for the business that they have worked very hard to build, as well as allowing you to help entrepreneurs (buyers) achieve their dream of owning their own business.
While a college degree is preferred, there is no specific background or educational achievement that ensures success in business brokerage. In general, persons who have sales experience, have owned their own business, or come from families who have owned their own businesses are good candidates. However, a strong desire to succeed financially, a willingness to learn, and enjoyment of working with people in a business environment are the primary traits we look for in applicants. As an independent contractor you will have the freedom to direct your own full time work schedule. We are especially interested in adding talented individuals who are experienced in a variety of industries.
TRAINING
Complete training is provided by BlueKey's principal or managing director in our Northern California office. BlueKey provides organized and detailed training programs and on-going mentorship for our associates. It is our philosophy that the most successful associates have been given the most comprehensive up-front training and on-going support. Our new associate training program will teach you how to:
* Contact business owners and educate them on the process of selling a business
* Properly qualifying buyer prospects
* Analyze and normalize financial statements
* Determine the probable market value of a business
* Create and execute marketing plans to get listings and to sell listings
* Negotiate acquisitions for business and commercial real estate
* Understand and complete forms and contracts
* Understand property leases
* Develop your referral network
* Manage bulk sale (business) escrows
* Create professional and personal goals to help you reach your potential
FREQUENTLY ASKED QUESTIONS:
Do I need a license?
Yes, a real estate salesperson license is required. We recommend on-line or home study schools because they are quick and inexpensive. All new associates will be provided with BlueKey's Quick Start Licensing Guide to help get you licensed as soon as possible.
How long is the training?
Our extensive training program is for 2 weeks; in-office classroom instruction in the morning, at-home license study/preparation in the afternoon. After the initial training program, new associates receive on-going mentorship, particularly through their first 2 complete transactions, or as long as an associate requires in order to reach their personal comfort level.
Are there any costs?
Yes. BlueKey pays for operational expenses such as our state-of-the phone and email systems, and office supplies. As independent contractors, associates are responsible for licensing school and application fees, business cards, automobile costs, supplemental advertising, etc.
In addition, a new associate pays a $550 refundable training fee to BlueKey which is refunded over the first two transactions, $340 for first year membership with California Association of Business Brokers which includes a 2-Day class: Business Broker 101, $98 materials fee and a monthly technology fee of $39 per month enabling the associate to work/access to our complete marketing and operational system from any internet connection anywhere, anytime.
Can I work from home?
Yes. In fact, to keep our commission structure as generous as possible for our associates, all associates work from their home offices the majority of the time once they are licensed. But keep in mind, a successful business broker does not spend much time in the office! A successful business broker is in meetings with sellers in their offices getting new listings every week! It is also important for our associates to stay connected, so we have a weekly in-office Business Development meeting, as well as a TGIF! on Friday afternoons to get together informally and share our experiences.
How long will it take before I close my first transaction? Approximately six months.
How much money does the average person make?
There was a national survey of business brokers conducted and the average annual gross commissions were $253,000 produced from an average of five sales. These commissions would be reflective a business brokers with industry experience of 3 years or more, however, an associates personal success is solely base on their personal desire and commitment to list and sell as many businesses as possible!
How is the commission divided?
Associates receive 50% of the gross commission on the first two transactions, and the split increases by 5% to 10% for each closed transaction thereafter up to 80% of the gross selling or listing commission- no strings attached. This is one of the most generous commission structures in the industry!
What are the qualities of a successful business broker?
1) People skills, including communication, empathy and listening abilities.
2) Ability to work both as a team member and independently to prioritize tasks and clients.
3) Life experience and a willingness to learn! Most new business brokers have not had prior business brokerage experience before becoming a business broker. Common backgrounds are prior business ownership, professional sales and/or financial management.
YOUR NEXT STEP:
If you have a business-oriented background, are well organized, and like dealing with people, then this high-income professional career is for you! For a confidential interview to discuss your potential for financial success, please email your resume to:
Julie Gordon White, Broker / Principal
BlueKey Business Brokerage M&A
1160 Brickyard Cove, Road Suite 200
Point Richmond, CA 94801
P 510.215.5155x701
F 510.215.5255
E jegwhite@bluekeybma.com
www.bluekeybma.com
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