Small Business Resources, Business Advice and Forms from AllBusiness.com
 

Business Broker Training Programs

Tuesday, July 8 2008

 I received the following letter from the Blog:

I'm interested in becoming a Business Broker. With so many training options out there, it's confusing to determine which is the best mode for me to use. Seriously looking into ABBA or Brokers Service Network - though there is a huge price difference between the 2. I would rather try to make it a go on my own, rather than in a brokerage office. However, any thougths or suggestions you might have, I would greatly appreciate it!

Thank you, Debra

And my response:

Debra,

I know of ABBA and Broker's Service Network, but I've yet to meet anyone that went that route. I don't know the costs either.

Another route is to buy a franchise from Murphy Business, Sunbelt or VR. A franchise operation comes with training. My partner Fred Hall does some of the training for Murphy and he said he was impressed with the entire training package they have.

Finally, you could get training at the twice a year IBBA (www.ibba.org) conference. I'm guessing the IBBA courses are better than some of these others, in that you get multiple courses each taught by experts in that field. I've taken a lot of the IBBA and M&A Source courses, and they are very good. What they don't do is lead you through starting and running your own practice like the other courses.

Regards, Ney

 

In addition, make sure to read these articles:

Latest Comments in  posts

I bit the bullet and bought The Complete Guide to Business Brokerage by Tom West. The price of the book is high at $120, but compared to taking classes or writing a detailed business plan on your own, the cost was well worth it. The book takes you through all the numbers from sizing the market in your city on down to how many calls and direct mail pieces you'll need to put out there to get the needed responses. It even includes the nitty gritty like your call scripts and forms that you would otherwise have to write yourself. The book is a great introduction even if you are thinking about joining an existing brokerage. I can't imagine anyone new to the business would start a brokerage from scratch without reading this book. Besides, after you read this book, you'll see where Ney got his "yellow legal pad" reference.

...
By: Patrick Wei on 9/7/08 at 7:35 PM
Recommending the IBBA for start-up business broker training is bad advice as they are great for networking but not initial training. Franchises are ok if willing to pay high fees and split commissions. For someone willing to go on their own then Broker Service Network www.brokerserviceetwork.com (not Brokers Service Network as referenced) is best as they offer great support with no ongoing fees. With 225+ active business brokers - stating you have not met a BSN broker only means you did not try very hard.
By: Scott Radin on 9/26/08 at 10:45 AM
The previous comment that IBBA is not the answer to education is from someone selling broker training services. My experience is that the IBBA and M&A Source provides valuable training. For someone just starting out with no business background and no business education, you may need a full, step by step training program.

- Ney ...
By: Ney on 9/29/08 at 2:01 PM
The ABBA course is designed for individuals who want to enter the profession. It is an intensive two day seminar designed to give participants the knowledge, skills, forms, legal documents, marketing templates, etc. needed to enter the profession. I personally teach the course and have been a professional business broker for 20 years. experience.
By: William Bruce on 12/16/08 at 3:17 PM
The seminar, conducted by the American Business Brokers Association, is an intensive two-day, hands-on program designed to give participants the knowledge, skills, forms, legal documents, marketing templates, etc. needed to enter the profession. The next seminar is scheduled for Dallas, Texas on February 21 and 22. For a detailed seminar syllabus and cost, please visit http://americanbusinessbrokers.org/s8.html . For the LinkedIn profile of William Bruce, the instructor, see:http://www.linkedin.com/in/williambruce.

...
By: William Bruce, President, American Business Brokers Association on 1/17/09 at 4:59 PM
You must sign-in or sign-up to comment on this post.
LATEST POSTS From More Buying & Exiting Businesses Bloggers
Interactive Blogger Map
Use our interactive map to figure out where Bloggers are located

View AllBusiness Bloggers in a larger map
Franchising Expert
mleonard_80
Ask Mark Leonard, Our
Franchising Expert,
Your Question
Small Business Expert
rlesonsky_80
Ask Rieva Lesonsky, Our
Small Business Expert,
Your Question
B2B Sales Expert
jkonrath_80
Ask Jill Konrath, Our
B2B Sales Expert,
Your Question
Business Travel Expert
krosen_80
Ask Ken Walker, Our
Business Travel Expert,
Your Question
Finance Expert
sthacker_80
Ask Sam Thacker, Our
Finance Expert,
Your Question
Invention Expert
Ask Stephen Key, Our
Expert on Licensing Your
Invention, a Question