BUSINESS BROKER TRAINING

MODULE 1

• THE STATE OF THE BUSINESS BROKERAGE INDUSTRY
• BUSINESS BROKERAGE STANDARDS
• THE BUSINESS BROKER'S CODE OF ETHICS
• THE SMALL TO MID-SIZED MARKET
• BUSINESS STRUCTURES
• ASSET SALES vs. SHARES SALES
• THE ROLE OF THE BUSINESS INTERMEDIARY / AGENCY RELATIONSHIPS
   1. BUYER'S AGENT
   2. SELLER'S AGENT
   3. DUAL AGENT

MODULE 2
 

• UNDERSTANDING THE BUSINESS OWNERS MOTIVATION TO SELL
• TYPES OF LISTINGS
• ATTRIBUTES OF A GOOD LISTING
• SOURCES OF LISTINGS
   1. THE LISTING BROCHURE
   2. REFERRALS
   3. SPHERES OF INFLUENCE
   4. FISBO’S
   5. DIRECT MAIL (INCLUDING E-MAIL)
• GENERAL
• SPECIFIC
• DROP OFFS
• MAILING LISTS
   1. NETWORKING
   2. COLD CALLS
• IN PERSON
• BY TELEPHONE
• THE SELLER'S ACTION LIST
• GATHERING THE SELLER'S INFORMATION
• FINANCIALS
   1. INTERNALLY PREPARED
   2. ACCOUNTANT PREPARED
• NOTICE TO READER
• REVIEW ENGAGEMENT
• AUDITED

MODULE 3
 

• RECASTING  FINANCIALS (PART 1)

MODULE 4
 

• RECASTING  FINANCIALS (PART 2)
• PRICING THE BUSINESS
   1. COURTESY VALUATION
• GOODWILL
• TANGIBLE ASSETS
• INTANGIBLE ASSETS
• INVENTORY
• EQUIPMENT LEASES
• COURTESY VALUATION FORMATS
   1. BASIC
   2. SOFTWARE BASED
• ACTUAL GOODWILL vs. PHANTOM ASSETS
• INDUSTRY “RULES OF THUMB” vs. “COMPS”
• DEALING WITH SELLER'S ACCOUNTANT AND OTHER ADVISORS
• DEALING WITH THE PREMISES LEASE
• DEALING WITH LEASEHOLD IMPROVEMENTS
• DEALING WITH THE FRANCHISOR (WHEN APPLICABLE)
• DEALING WITH EMPLOYEE ISSUES
• UNDERSTANDING THE SELLER'S BUSINESS
• THE IMPORTANCE OF SELLER FINANCING

MODULE 5
 

• THE BUSINESS OPPORTUNITY  LISTING AGREEMENT
• THE BUSINESS OPPORTUNITY  LISTING PRESENTATION
   1. THE SELLER'S ACTION LIST
   2. THE NDA
   3. THE CONFIDENTIAL PURCHASER PROFILE
   4. THE MARKETING PLAN
   5. OBTAINING LISTING INFORMATION
   6. DETERMINING THE TRUE MOTIVATIONS FOR SELLING
   7. OBTAIN THE EXCLUSIVE RIGHT TO SELL LISTING
   8. OVERCOMING OBJECTIONS
• SERVICING THE LISTING
   1. LEARN ABOUT THE BUSINESS
   2. KEEP IN CONSTANT COMMUNICATION WITH THE SELLER

MODULE 6
 

• HOW A BUSINESS IS SOLD FLOW CHART
• THE BUSINESS SALES PROCESS
• MANAGING THE SELLER'S EXPECTATIONS
• BROKER DOES NOT SELL THE BUSINESS, SELLER SELLS THE BUSINESS
• STAGING THE BUSINESS FOR SALE
• PREPARING THE LISTING FOR SALE
• PACKAGING THE LISTING
   1. BUSINESS SUMMARY
   2. FINANCIAL ADJUSTMENT SHEET
   3. DETAILED FINANCIALS
   4. ADDITIONAL SELLER / BUSINESS INFORMATION
   5. CONFIDENTIAL BUSINESS REVIEW
• ADVERTISING AND PROMOTING THE LISTING
   1. BUSINESS OPPORTUNITY LISTING  WEB SITES
   2. OTHER BUSINESS BROKERS
   3. BUYER PROSPECT DATABASE
   4. SPHERES OF INFLUENCE
   5. PUBLICATIONS
REFERRAL FEES
FINDER'S FEES

MODULE 7
 

• HOW A BUYER BUYS A BUSINESS  FLOW CHART
• QUALIFYING THE BUYER PROSPECT
   1. NON DISCLOSURE AGREEMENT
   2. CONFIDENTIAL PURCHASER PROFILE
   3. TELEPHONE INTERVIEW
   4. IN-PERSON INTERVIEW
   5. DETERMINING BUYER'S TRUE MOTIVATION
   6. DETERMINING BUYER'S TRUE FINANCIAL POSITION
• EDUCATING THE BUYER AND MANAGING EXPECTATIONS
• SHOWING THE BUSINESS AND INTRODUCTION TO SELLERS
   1. PRELIMINARY MEETING (A TWO WAY STREET)
   2. SUBSEQUENT MEETINGS
• FOLLOW UP WITH BUYER PROSPECTS AFTER SHOWINGS
• OVERCOMING BUYER OBJECTIONS
• DEBRIEFING SELLERS AFTER SHOWINGS

MODULE 8
 

• THE BUSINESS OPPORTUNITY OFFER TO PURCHASE AGREEMENT
• DRAFTING THE OFFER TO PURCHASE AGREEMENT
• PRESENTING THE OFFER TO PURCHASE AGREEMENT
• COUNTER OFFERS
• BACK UP OFFERS
• OTHER OFFER TO PURCHASE DOCUMENTS
• CO-OPERATING WITH OTHER BUSINESS BROKERS
• ESCROW – BULK SALE - TIMING AND PROCESS
• MANAGING THE SALES PROCESS

MODULE 9
 

• THE DUE DILIGENCE PROCESS
   1. REVIEW OF FINANCIAL BOOKS AND RECORDS
   2. JUSTIFYING  THE VALUE OF ASSETS INCLUDED IN THE PURCHASE
   3. JUSTIFYING  THE VALUE OF INVENTORY INCLUDED IN THE PURCHASE
   1. PREMISES LEASE ASSIGNMENTS
   2. EQUIPMENT LEASE ASSIGNMENTS
   3. FRANCHISE ASSIGNMENTS (WHERE APPLICABLE)
   4. MANAGING EMPLOYEE INTERVIEWS
   5. MANAGING SUPPLIER INTERVIEWS
   6. MANAGING CUSTOMER INTERVIEWS
   7. OTHERS
• WORKING WITH THE BUYER DURING DUE DILIGENCE
• THE 4 MAIN DEAL KILLERS
   1. SURPRISES
   2. TIME
   3. ACCOUNTANTS
   4. LAWYERS
• WORKING WITH THE SELLER DURING DUE DILIGENCE
• THE 4 MAIN DEAL KILLERS
   1. SURPRISES
   2. TIME
   3. ACCOUNTANTS
   4. LAWYERS
• REMOVING CONDITIONS OF PURCHASE
   1. RELEASE THEM ONE AT A TIME
   2. THE ORDER IS USUALLY IMPORTANT
• BUSINESS CLOSING CHECKLIST
• WARRANTY AND DISCLAIMER
• POST SALE FOLLOW UP (A GREAT SOURCE OF NEW LISTINGS)

MODULE 10
 

• COURSE REVIEW
• CERTIFICATION EXAM
 

THE CERTIFIED BUSINESS BROKER TRAINING COURSE INCLUDES 90 DAYS OF SUPPORT BY THE TRAINER VIA PHONE, FAX AND E-MAIL.

THE CERTIFIED BUSINESS BROKER DESIGNATION WILL BE AWARDED TO ALL TRAINEES THAT:

1. SUCCESSFULLY COMPLETE THE CERTIFIED BUSINESS BROKER TRAINING COURSE

2. SUCCESSFULLY PASS THE CERTIFIED BUSINESS BROKER TRAINING EXAMINATION

3. SUBMISSION TO THE GLOBAL BUSINESS BROKERS INSTITUTE EVIDENCE OF TRAINEE'S PARTICIPATION IN 3 COMPLETED BUSINESS SALES TRANSACTIONS.
 

FORMS

THE FOLLOWING FORMS ARE INCLUDED IN HARD COPY FORMAT AND IN ELECTRONIC FORMAT, SO THAT THEY CAN BE MODIFIED FOR YOUR USE.

• NON DISCLOSURE AGREEMENT
• CONFIDENTIAL PURCHASER PROFILE
• SELLER'S ACTION LIST
• LISTING PRESENTATION SCRIPT
• BUSINESS OPPORTUNITY LISTING AGREEMENT
• BUSINESS OPPORTUNITY LISTING AGREEMENT AMENDMENTS
• LISTING CHECKLIST
• OFFER TO PURCHASE AGREEMENT
• OFFER TO PURCHASE AMENDMENTS
• DUE DILIGENCE CHECK LISTS
• COUNTER OFFER
• BUSINESS CLOSING CHECKLIST
• REMOVAL OF CONDITIONS OF PURCHASE FORMS
• BILL OF SALE
• AUTHORIZATION TO DISPERSE TRUST ACCOUNT FUNDS
• WARRANTY AND DISCLAIMER
• WITHDRAWAL OF OFFER TO PURCHASE
• DIRECT MAIL LETTERS
• DIRECT MAIL E-MAILS
• REFERRAL AGREEMENTS
• CO-BROKER AGREEMENTS