Whether you are selling a business or buying a business, it will be one of the most important financial decisions in your life, both professionally and personally. When answering the question why select a Certified Business Intermediary, the answer is simple. Anyone can say he or she is a business broker but a Certified Business Intermediary offers the most experienced professional representation available during the process of selling or buying a business. The CBI designation is a professional credential earned by Business Intermediaries who are members of The International Business Brokers Association (IBBA) and have completed the work experience and academic requirements in addition to adhering to the ethical standards of IBBA.
Bryan Foreman, a Certified Business Intermediary, or CBI, is an experienced Certified Business Broker who has attained the expertise to perform a detailed business valuation, knows how to confidentially market your business for sale, understands SBA financing, negotiations, and deal management. A CBI keeps all parties engaged and manages the transaction all the way to the closing table.
Business Brokerage is a specialized field that requires strong knowledge in the areas of accounting disciplines, business valuation, finance, legal, as well as a proficiency in marketing, negotiations, and due diligence. The combination of experience and knowledge offered by a Certified Business Intermediary
provides business sellers and business buyers the peace of mind knowing that the sale or purchase of a business will be handled confidentially, with professionalism and skill in order to achieve the best possible result.
6 Major Benefits of Selecting a Certified Business Intermediary
· Confidentiality A Business Intermediary will maintain and protect the identity of the company and contact the owner with approved buyers only. All parties will sign an NDA, Nondisclosure Agreement.
· Focus on the Business A certified business broker or intermediary will allow the owner to remain focused on the day-to-day business operation and keep the revenues steady during the process.
· Valuing your Business Determining the value of your business is a complex process considering that each business is unique. A Certified Business Intermediary has access to business transaction databases in your industry that will help to establish market value.
· Marketing your Business A Business Intermediary can help you prepare and then present your company in the best possible light to maximize the sale of your business.
· Negotiation A Business Intermediary can provide effective deal management to create a win-win outcome resulting in the successful sale of your company.
· Closing the Deal A Certified Business Intermediary can effectively manage the complex due diligence and reports ensuring the business transaction closes in a timely manner.
3 Notable Distinctions of a Certified Business Intermediary
1. A higher level of experience, training, and education to value, market, negotiate, and successfully sell your business
2. Knowledge of the most up-to-date market trends and industry data related to business valuation, financing, contracts, taxes, legislations and other areas with respect to business
3. Affiliations with hundreds of other Business Intermediaries and professional partners: Accountants, Attorneys, etc. on a local national level
Requirements For Certified Business Intermediary
To earn the CBI designation, an IBBA intermediary must meet the following educational and ethical requirements:
· Experience A minimum of three years as a full time Business Brokerage experience and must be actively involved in the deal-making process
· Ethics A thorough understanding and commitment to uphold the Association’s Code of Ethics
· Education CBI’s must complete a rigorous advanced study curriculum involving a minimum of 68 class hours of Business Brokerage courses in addition to attending IBBA Conferences for professional development, continuing education, and re-certification every two years
· Examination Once all requirements have been met, CBI’s must successfully pass a comprehensive examination on many different aspects of Business Brokerage
Selecting A Certified Business Intermediary
Selling or buying a business is one of the most critical financial decisions in an individual’s life.
Selecting a Certified Business Intermediary, or CBI will greatly benefit selling and buying businesses in optimizing the complex transactions related to selling or buying a business. The CBI designation is highly regarded and has been awarded to only 500 individuals in the U.S.
Bryan Foreman is a Certified Business Intermediary, CBI, and a Board Certified Broker, BCB, providing Business Brokerage expertise in the Mid-South, primarily Tennessee, Alabama, and Texas. As a small business owner, he has the experience of being both a business owner and a business seller.