Training of business

In North America success fee commissions range from 5% to 12%. Usually, the smaller the transaction, the larger the commission. "Main Street" businesses, those with revenues between $100,000 and $1,000,000 can expect commissions to average between 10% - 12%. Commissions are determined between the client (seller or buyer) and their broker and are normally paid at closing.

The standard commission is likely to be lower in the United Kingdom (see Lehman scale). Commissions are negotiable between seller and broker. The commission could also be paid as flat fee or some combination of flat fee and percentage, particularly in the case of lower-priced businesses, businesses in the multi-million dollar price, or other unusual business assets. The details are determined by the listing contract.

Out of the commission received from the seller, the broker will typically pay any expenses incurred to do the work of trying to sell the listed businesses, such as advertisements, etc. All compensation to a broker paid by a third party must be disclosed to all parties.

Several national and state associations offer on-going broker training and professional development programs. The American Business Brokers Association ([1]), Broker Service Network (BSN), International Business Brokers Association (IBBA), and The Maxbizvalue Network offer initial broker training to individuals who want to enter the profession.