2022 Reviews

Top Business Brokers in Chicago - 2022

LAST UPDATED 19 May, 2022
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List of the Top Business Brokers in Chicago

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Bmi Mergers & Acquisitions

Service Focus
25% Business Valuation
3% M&A Advisory
21% Financial Analysis
26% Buy-Side Advisory
13% Sell-Side Advisory
11% Other
Service Focus
25% Business Valuation
3% M&A Advisory
21% Financial Analysis
26% Buy-Side Advisory
13% Sell-Side Advisory
11% Other
BMI Mergers & Acquisitions provides professional advice to help you maximize your company's value. We can manage this entire process so that buyers don't have to spend countless hours working through these steps themselves! Professional advisors can help you manage the difficult business sale process so your company's value is maximized and transactions are successful.
American Business Acquisitions is a company that focuses on the sale of viable business opportunities. They also represent property or real estate when it's part of selling a business entity, which many companies they sell to have in common: operating for years and even decades; 2nd, 3rd generation owners who are usually very active with their businesses.

Cornerstone National

Service Focus
25% Tax Planning
34% Company Liquidation
16% Company Capital
24% Counseling
Service Focus
25% Tax Planning
34% Company Liquidation
16% Company Capital
24% Counseling
At Cornerstone, we strive to be your support system for life. We provide personalized coverage and service that you deserve so you can trust us with what matters most when it comes to insurance. When the unexpected happens, our team has all of the tools needed to keep home or auto policy intact without any stress involved on your behalf.

Frequently Asked Questions About Business Brokers

The majority of buyers always want to know what the business’s asking price is. If the price is too high then it is unlikely the business will sell and should it be too low, then the seller did not receive sufficient remuneration for the business. That being said, it isn’t all businesses that come with an asking price. In certain markets, the lack of an asking price can begin a bidding war. Nevertheless, buyers are always aware of the market value before engaging in their bidding war.

Perhaps the most efficient way to ensure that the sale of your business is kept confidential is to enlist the services of a business brokerage which acts as a third party. Prospective buyers are screened by the business broker and they could sign a confidentiality agreement before they are told which business is up for sale.

Using a business broker helps you get the very best price for your business
The sale of your business is completely confidential
Using a business broker can ensure you keep concentrating on running your business
Business brokers are more adept at finding prospective buyers and successfully marketing your business to them
The sale of a business is not always as straightforward as most people believe. Enlisting the services of a business broker can help you handle the paperwork and the details.
The chances of you actually selling your business dramatically improve when you enlist the services of a business broker.

The short answer is yes, you do need a business broker to buy a business. This is for a host of reasons, for one, you gain protection from legal issues when you use a business broker to purchase a business. Additionally, should you have very strict requests on the type of business you want to purchase, a business broker can scour their network to find such a business for you, freeing you from doing tedious work like that.

A good business broker should be the following:
Trustworthy
Given that the business broker will be dealing with quite a lot of confidential information, it makes perfect sense that the one you go with does not reveal any of this information to unauthorised persons. Additionally, it is also important that the conflict of interest between buyer and seller is handled in a prudent manner. This can be done by not revealing what the seller’s bottom line is to potential buyers.
Well connected
It is the duty of a business broker to locate the right business or the right buyer that matches their client’s criteria. A well-connected broker is able to find numerous opportunities from a large pool. It is important to search for brokers that are part of local networking groups, broker associations, chamber of commerce, and more.
Market savvy
A great broker particularly one selling has to be a great marketer, given that they have to be able to market and sell a business to prospective buyers. Being market savvy means being able to have an online presence and actively brand participating in viable social media platforms. They should also be able to develop great marketing materials which can then be presented to potential buyers.
Well organised
Given that a business broker by design wears numerous hats and simultaneously works on various projects, it is important that the one you select is extremely organised. They have to be able to maintain a record of appointments and information ensuring that there is no disappointment when important tasks are handled.
Basic financial and legal knowledge
While you do not expect a business broker to usurp the responsibilities of a financial analyst or a lawyer, they should have at least a basic understanding of financial and legal issues. selling and buying businesses involves being able to understand and address the key issues in these fields. As a minimum, a good business broker has access to individuals with good financial and legal knowledge within their networking cycle.

A business broker typically gets paid by earning commissions from completed sales which they facilitate. Apart from that commission they earn, they are also able to work for a retainer’s fee or have an hourly rate. This tends to depend on the brokerage and contract between the client and the broker. The payment could either be a lump sum or installments.

  • You should ask your business broker if they have experience selling a business like yours and how many times has that been the case?
  • If they work from an office or from home?
  • How do they value a business?
  • How do they prevent competitors and the business’s customers from hearing that the business is up for sale?
  • How many qualified buyers do they have?
  • Is it possible to list the business for an arbitrary price?
  • How many business listings do they have at this moment?
  • Do they help with the preparation of sales contracts? Or do you need an attorney?

An exclusive agreement means that you only work with a certain business brokerage for a short amount of time, while a nonexclusive agreement means that there is room for competition which could be seen as a motivating tool for the business brokerage. The agreement you choose simply depends on how quickly you are looking to sell your business.

A business broker can be defined as a trained professional enlisted by people looking to buy or sell businesses. A business broker might have a licence to broker; however, this depends on the jurisdiction they practice and operate in. Business brokers are in the business of estimating the value of a business, advertising it, and also conducting interviews with prospective buyers.

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Insurance Agency Appraisal

Service Focus
14% Tax Planning
32% Company Liquidation
26% Company Capital
27% Counseling
Service Focus
14% Tax Planning
32% Company Liquidation
26% Company Capital
27% Counseling
The insurance agency appraisals we provide are in full compliance with the Uniform Standards of Professional Appraisal Practice (USPAP) promulgated by the Appraisal Standards Board, as well as business appraisal guidelines and standards established by entities like SBA or ERISA. That's why so many businesses have chosen our services!
Morgan & Westfield is the foremost business advisors in Chicago. We have an office located here that sells and appraises businesses throughout Cook County, Illinois; if you're a small firm with less than $5 million in annual revenue then call us today at (872) 221-6000!

Sterling Business Brokerage Group

Service Focus
5% Tax Planning
24% Company Liquidation
53% Company Capital
19% Counseling
Service Focus
5% Tax Planning
24% Company Liquidation
53% Company Capital
19% Counseling
The Sterling Business Brokerage Group, LLC is the premier destination for any business owner looking to sell their company. With over a decade of experience and hundreds of happy customers, you can be confident that we will provide you with an exceptional service which provides full brokerage services through our team's expert knowledge and expertise in the industry.
Playbook Advisory is a Chicago-based business brokerage firm that's committed to achieving positive results for smaller companies. The company specializes in assisting firms with $300,000-$20 million annual revenues and has experience working with all different sizes of businesses. Our clients range from startups to established companies that are looking for guidance on how best to take their company's strategy into the future.

American Business Acquisitions

Service Focus
22% Tax Planning
26% Company Liquidation
17% Company Capital
35% Counseling
Service Focus
22% Tax Planning
26% Company Liquidation
17% Company Capital
35% Counseling
American Business Acquisitions is a company that focuses on the sale of viable business opportunities. They also represent property or real estate when it's part of selling a business entity, which many companies they sell to have in common: operating for years and even decades; 2nd, 3rd generation owners who are usually very active with their businesses.

Morgan & Westfield Business Brokers Chicago Il

Service Focus
26% Tax Planning
19% Company Liquidation
43% Company Capital
12% Counseling
Service Focus
26% Tax Planning
19% Company Liquidation
43% Company Capital
12% Counseling
Morgan & Westfield is the foremost business advisors in Chicago. We have an office located here that sells and appraises businesses throughout Cook County, Illinois; if you're a small firm with less than $5 million in annual revenue then call us today at (872) 221-6000!

Aptus Exchange

Service Focus
19% Tax Planning
60% Company Liquidation
20% Company Capital
1% Counseling
Service Focus
19% Tax Planning
60% Company Liquidation
20% Company Capital
1% Counseling
Aptus Exchange provides a comprehensive suite of services to help you succeed in business. Whether it's hosting events for your patients, guiding them through entrepreneurship or providing exit strategies from their practices once they are ready - Aaptus can do it all! We'll guide you through starting your own practice, and provide full support services so that success is inevitable!

Lighthouse Business Brokers

Service Focus
20% Business Valuation
17% M&A Advisory
1% Financial Analysis
28% Buy-Side Advisory
6% Sell-Side Advisory
28% Other
Service Focus
20% Business Valuation
17% M&A Advisory
1% Financial Analysis
28% Buy-Side Advisory
6% Sell-Side Advisory
28% Other
Through their years of specialization, Lighthouse Business Brokers has founded a powerful buyer network with thousands of qualified buyers clients that are specifically looking for high-quality businesses in the Chicago and Miami markets. The active buyers in their database include professional investors, private equity firms, and venture capitalists that are always looking for high-quality acquisition opportunities.

SUN ACQUISITIONS

Service Focus
24% Financial Analysis
17% Business Valuation
24% Consulting
13% Buy-Side Advisory
6% Private Placements
16% Other
Service Focus
24% Financial Analysis
17% Business Valuation
24% Consulting
13% Buy-Side Advisory
6% Private Placements
16% Other
Sun Acquisitions has created a fully integrated procedure that assists their clients to evaluate all of their merger and acquisition options. Their approach starts with an in-depth analysis and strategy session so that you can make a great decision regarding the contemplated revenue or acquisition. They assist with companies across all industry sectors with annual revenue between $2 to $30 million dollars.

Morgan & Westfield

Service Focus
21% Business Valuation
39% M&A Advisory
4% Financial Analysis
8% Buy-Side Advisory
0% Sell-Side Advisory
28% Other
Service Focus
21% Business Valuation
39% M&A Advisory
4% Financial Analysis
8% Buy-Side Advisory
0% Sell-Side Advisory
28% Other
Morgan & Westfield expertise in selling small and mid-sized companies with sales up to $50 million. They have successfully sold businesses in hundreds of industries in the United States and Canada. They assist entrepreneurs in successfully strategieze and execute the sale of their businesses.

Transworld Business Advisors

Service Focus
8% Business Valuation
29% M&A Advisory
6% Financial Analysis
13% Buy-Side Advisory
23% Sell-Side Advisory
22% Other
Service Focus
8% Business Valuation
29% M&A Advisory
6% Financial Analysis
13% Buy-Side Advisory
23% Sell-Side Advisory
22% Other
Transworld Business Advisors has purely established in 1979 based in South Florida by Don and his wife Bonnie Parrish. It quickly grew to the highest business brokerage in the United States. For more than 40 years, Transworld has expertise in the sale of businesses, mergers and acquisitions, and franchises.