Mergers & Acquisitions Advisory

A Neumann & Associates, LLC

October 9, 2019

How to Choose the Right Business Broker in Maryland

By Achim Neumann

Growing a successful business in Maryland is quite the challenge, as it is anywhere in the US. For many business owners and entrepreneurs in the state, the light at the end of this long tunnel comes in the form of a lucrative buyout by a bigger entity or eager new operator.

However, getting to this endpoint requires the services of business brokers in Maryland who are competent and trustworthy and finding brokers of that nature can be a challenge. If you are a business owner in Maryland looking to sell your business, here is how to choose the right MD Business broker.

Gather Your Options

To choose the right business broker in MD, you need to take the time to build a list of qualified professionals to sift through. The best way to collate this list is to ask the people in your circle of operation for referrals. This is because being recommended or spoken about positively by others is a sign of competence. Ask other business owners who you know have successfully grown and sold their own companies, or ask any financial planners, accountants, estate attorneys, or other professionals in related fields who might know of reputable business brokers. These referrals can form the basis of your list. You can also search online to see if there are any brokers that have positive reviews. If there are any, add them to your list.

Create a Shortlist From Your Options

Go through your list and scrutinize each potential brokering company carefully. Firstly, take a look at their website. Does their website contain adequate information about the company, its principals and their working experience? How many business sales have they brokered since inception?

Go deeper and ask more questions. How long have they been in business? Can you verify their certification claims? Do they specialize in mergers and acquisitions advisory and business brokerage or are they just glorified real estate brokers? Do they have sufficient experience with finance and tax-related issues? Is their reputation solid, or do past employers speak poorly of them? These questions will help you identify which business brokers to shortlist and invite for further discussions and whom to screen from your list.

Interview Shortlisted Candidates

Once you have screened the initial candidates, you need to have a serious conversation with the remaining brokers so you can choose the right one for your business. In the interviews, ask important questions that highlight their competence. Do they have an existing business valuation plan that can be shared with you? Will an independent valuation firm be carrying out the process or will it be done in-house? Do they have a discreet, yet effective marketing plan in place to attract buyers? How will they screen buyers to weed out the unserious ones?

Consider the Cost

If a business broker in MD is able to sell your business successfully, the typical charge for this service can be between 7%-15% of the gross value of the sale. This, however, is variable and should be negotiated before engaging the services of the broker. Fees higher than 15% are usually unjustifiable and should not be entertained. Also, business brokers who request large advances/retainer fees should be avoided.

Successfully surpassing the challenge of growing a business in Maryland should be rewarded with a profitable sale. Use the guide above to choose the right business broker in Maryland to help you get the sale you deserve.

About A Neumann & Associates, LLC

A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or info@neumannassociates.com

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Client Testimonials

“Working with Marc and his company was a pleasure. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. Marc handled most of the interaction and he has one of the greatest demeanors. Again, it was a pleasure working with him and his firm.”

Douglas DiCeglio

“I recently completed an acquisition using A Neumann & Associates. Tony Valentino was very helpful and accessible during the entire process. They do a thorough job vetting both parties and got us to the finish line.”

Srini Mudambi

“Claus out of Florida helped us with the sale of our business. We had never done anything like this and him and his team walked us through the process from start to finish. We had some challenges through the process and Claus continued to show up even in the difficult conversations.”

Colby Harris, Co-Owner, Del Mar Designs

“Claus Madsen thoroughly helped us with selling our company. From the 1st introductory meeting explaining to us what was possible, to providing us with resources to assist with the sale. Claus was invaluable throughout the whole sales process. Claus was with us every step of the journey and always made himself available for any questions or issues that came up along the way. If you are interested in selling your business, I encourage you to reach out to Claus and the ANA team so that they can let you know what’s achievable. These guys will make it happen!”

Ron Harris, Co-Owner and Vice President, Del Mar Designs

“A Neumann & Associates is the only business broker I would use or consult with. They have assisted with 3 business sales over the past 15 years with me. They are honest and sincere and have always performed better than my expectations. They are the only one i would use for the sales of my businesses.”

James Belanger, Business Owner

“I wanted to take a second to commend the exemplary customer service from both you [Karin Neumann] and Mr. Valentino. It’s both a rarity in the industry, and very much appreciated.”

Andrew G., Investor

“We worked with Neumann & Associates to investigate the purchase of a research company in 2010 and found Achim to be capable, forthright and realistic. His depth of experience enabled us to fully understand our options, offering creative options that might enable the acquisition. While we didn’t acquire that particular company at that time, we know exactly who to call whenever we’re looking to buy or sell a business.”

Daniel Coates, Buyer

“Purchasing a business through this firm was a pleasure. Gary was very professional and transparent throughout the entire process. I look forward to working with A Neumann & Associates in the future.”

William Klemens, Buyer

“I utilized A. Neumann & Associates to assist in an M&A process. They are VERY thorough in using their time-tested process to calculate the value of investment opportunities, a process which provided a very detailed explanation for the value of the potential opportunity. Additionally, they also went above and beyond to extend other services including connecting with others who specialize in your industry and can assist with necessary steps including legal and accounting. Highly recommended!”

Edward Lane , Business Owner

“I recently contacted A. Neumann and Associates about getting a valuation of my business done. I spoke with Achim, who explained the process in detail. He had his colleague Gary come to my office in order to get a clear understanding of my business, and what I was hoping to accomplish. His patience in answering all my questions and his knowledge of the proper way to market my business gave me great confidence that this is the firm I will be using when the time comes for me to sell my business for max value. They gave me great insight into the steps I need to take now to get the best deal in the future. I highly recommend this firm to anybody who wants to sell now or down the road. They not only know their stuff, their actually just real nice guys.”

Robert Kardane, Business Owner
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Contact A Neumann & Associates, LLC

If you are considering selling your business, please contact us to learn more about our comprehensive service spectrum. Our experienced professionals will answer all your questions about selling a privately held business in complete confidentiality. Please fill out our contact form, or call us at 732-872-6777. We will contact you directly and will never identify ourselves to your employees.

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