Independent small business broker

Business owners selling up, who usually pay you a success fee when the sale completes. Some brokers also charge a small upfront fee for valuation or marketing.

A commission, typically a percentage of the sale price, paid on completion. Income is lumpy because deals can take many months to close, so plan cash to cover quiet spells.

• Negotiation and sales
• Reading basic financial statements
• Discretion with confidential information
• Patience and follow-up

• Licensing varies by province, and sales that include real property or a lease may fall under real estate rules, so check with your provincial regulator
• Errors and omissions (professional liability) insurance
• Keeping seller and buyer information confidential
• Long, uncertain sales cycles and no income if a deal falls through
• Setting clear written terms on fees and who pays if a sale does not close

Startup costs are typically estimated at around $3,000 to $12,000, depending on your home-office setup, marketing and insurance such as errors and omissions cover.

Monthly revenue is typically estimated at around $2,000 to $10,000, depending on how many sales complete. Sales cycles can be long and uncertain, and there is no income if a deal falls through.

Licensing varies by province, and sales that include real property or a lease may fall under real estate rules, so check with your provincial regulator. Also keep seller and buyer information confidential and set clear written fee terms.