How to Build Strong Relationships with Business Brokers

When it comes to buying a business, brokers can be valuable gatekeepers to great deals. However, not all brokers are the same—some work exclusively with high-quality businesses and serious buyers, while others push listings that don’t meet your criteria. That’s why building relationships with the right brokers and qualifying yourself as a serious buyer is essential.

Here’s how I approach connecting with brokers, positioning myself as a qualified buyer, and asking the right questions to ensure they’re the right fit for my acquisition strategy.

Step 1: Qualifying Yourself to a Broker

Brokers don’t want to waste time with “tire kickers.” They prioritize buyers who are serious, capable, and ready to move forward when the right deal comes along. To stand out, I focus on positioning myself as a strong candidate by showcasing my professional background, acquisition plan, and financial readiness.

How to Position Yourself as a Qualified Buyer:

✅ Share Your Background & Experience – Even if you haven’t bought a business before, emphasize relevant experience from your career, management experience, financial knowledge, or industry expertise. If you have a background in operations, finance, sales, or leadership, highlight that.

✅ Have a Clear Acquisition Criteria – Brokers want to know exactly what you’re looking for so they don’t waste time sending you deals that don’t fit. Be specific about:

• Industry: (e.g., home services, HVAC, plumbing, pest control)

• Location: (e.g., San Diego, Riverside, Orange County)

• Financials: (e.g., $250,000 - $750,000 in SDE/EBITDA)

• Operational Requirements: (e.g., recurring revenue, growth potential, strong management team)

✅ Prove You Can Fund the Deal – Brokers want to know that you have the financial capability to close a deal. You don’t need to show them bank statements, but you should be prepared to discuss how you plan to fund the acquisition:

• Personal funds & equity injection (if using SBA financing)

• Pre-existing lender relationships (if applicable)

• Investor backing or seller financing options

✅ Be Professional & Communicative – First impressions matter. Be prompt, clear, and responsive when reaching out to brokers. Treat these relationships professionally—if they trust you as a serious buyer, they’ll prioritize sending you high-quality deals.

Step 2: Qualifying the Broker

Not all brokers are equal. Some are highly knowledgeable and have great business listings, while others may push overpriced, low-quality businesses. Before committing time to work with a broker, I ask key questions to determine if they’re the right fit.

Questions to Ask a Business Broker:

🔹 What types of businesses do you specialize in?
(Some brokers focus on specific industries—make sure they work with businesses in your target market.)

🔹 How do you typically value businesses?
(Understanding their valuation methods helps ensure fair pricing—watch out for brokers who overinflate valuations to please sellers.)

🔹 What percentage of your deals include seller financing?
(Seller financing can be a huge advantage—brokers with experience structuring these deals can provide better opportunities.)

🔹 How many businesses do you currently have listed in my target industry and price range?
(If a broker doesn’t have relevant listings, they may not be the best fit for your search.)

🔹 What’s your process for vetting buyers before introducing them to sellers?
(This helps you understand their expectations and how they assess buyer credibility.)

🔹 Can you introduce me to sellers who are willing to have exploratory conversations?
(Some brokers work strictly on formal listings, while others facilitate off-market conversations. The latter can provide access to better deals.)

🔹 What are some recent deals you’ve closed?
(A broker’s past deals can tell you a lot about their experience and the types of businesses they work with.)

Step 3: Building Long-Term Relationships with Brokers

Once I’ve identified the right brokers, I focus on nurturing those relationships to ensure I stay top of mind when new deals become available.

📌 Regular Follow-Ups – I check in periodically to let them know I’m actively searching and to inquire about new listings.

📌 Providing Quick Feedback on Deals – Even if a deal doesn’t fit my criteria, I always respond with a quick thank-you and feedback so they understand exactly what I’m looking for.

📌 Being Ready to Move Quickly – Brokers appreciate buyers who act decisively when a great opportunity arises. Having my deal team (lenders, accountants, attorneys) in place ensures I’m prepared to evaluate and submit an LOI quickly when the right business comes along.

Final Thoughts: Relationships Matter

Finding the right business to acquire isn’t just about numbers—it’s about building relationships with the right people. By positioning myself as a serious buyer, asking the right questions, and maintaining strong relationships, I ensure that when the perfect business hits the market, I’m one of the first people to hear about it.

🚀 Are you looking to buy a business or connect with experienced brokers? Let’s network!

📩 Reach out via my website or LinkedIn to chat about deal flow and business acquisitions.