Not all businesses can be bought directly from the seller. Owners often prefer to have a broker take the hassle off their hands, while others want to keep things confidential until they're sure about a buyer. Whatever their private reasoning, the process of buying through a broker is often very different from buying a business directly from the seller.
Put simply, the key difference is the level of professionalism the buyer needs to present. Direct sellers are often more casual about proceedings, but a broker deals with business sales every day and will know straight away if a buyer is likely to waste their time and the seller's time.
With this in mind, here are some of our top tips for getting a broker onside when buying a business.
1. Ask yourself if you really are serious. It's an obvious but essential starting point. Don't waste someone else's time or your own if you aren't ready. There is a risk that you will leave a bad impression that works against you should you come when you are ready.
2. Sort out your finances. If the answer to question #1 is 'yes', then you better make sure your finances reflect this. Don't approach a broker without either having the funding in place or knowing exactly how you're going to finance your acquisition.
3. Is the seller serious? Don't be afraid to push the broker for information. You're making a major investment, find out if the seller is on the same page as you. Check why they are putting their business on the market and if their expectations are realistic to ensure your time isn't being wasted.
4. Sort out your personal profile. Your business capabilities are going to be fine-combed. Check over your CV, personal statement, online presence and skill set all to see if they reflect your abilities and if necessary give them an update. Brokers can use all of these things to assess if it's worth bothering the seller with your interest, so give them some TLC if they needed it.
5. Don't contact the seller directly if you're going through a broker. It's a simple point, but chances are the seller put their business with a broker intentionally and one of the main reasons is to protect their confidentiality. If you try to skirt around this you risk seriously undermining your professionalism.
6. Be confident. If you have everything in place you are in as good a place as anyone to push through with an acquisition. Make sure the broker sees your confidence and has you at the front of their mind when they are discussing matters with a seller.
Subscribers can check out our guide to business acquisition success for more information here. 
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