How do business brokers get paid?

Business brokers get paid a variety of different ways.  Most business brokers work on commission only and commonly charge about 10% - 12% of the total sales price of the businesses they sell.  All commissions are negotiable with the seller.  Some brokers charge hourly rates for their services instead.  It's not uncommon to learn that a business broker charges an hourly rate any where from $150 - $400 per hour depending on the skill set of the broker and the type of service being performed.  

FAQ's About Becoming A Business Broker

What's a typical day like for a business broker?

Most business brokers keep regular working hours like any other day time job.  Keep in mind, however, that our clients are often busy during normal working hours because they are busy running their businesses.  What's more, most business owners do not want their employees, their clients/customers, or their vendors to know that they are considering the sale of their business.  So it's not uncommon to have to meet with a business owner after hours or on weekends when their employees, clients/customers and vendors are not around.  

Good business brokers work closely with their clients to sell their businesses or, if they are working with a buyer, to assist the buyer in finding the right business to buy.  That generally requires plenty of time spent advertising the business for sale, managing prospective buyers, showing the business and working with the buyer to get an offer in play for the seller.  A typical day requires lots of calling, scheduling and managing deal flow.