Good question and not easily answered. A license is merely authorization to do a particular thing in
accordance with the issuing authority's policy, regulation or law. In this case we think of issuing
authority as being a State. To find
out if the State requires a license, you can now do some research? Of course you can access the web, and
try to find your answer; but is it correct? You do believe everything you read on the web, right?
Let's think about this. State
licensing is ordinarily regulated by state law. Then this becomes a legal question. Remember that only a lawyer may give
actual legal advice because their counsel will affect rights and
responsibilities of the person who listens. Easy enough, just go ask an attorney. He or She can tell you the language of the law and how it
applies to that particular thing you do; business brokerage. But wait a minute, now that you know
about the license, does that make you a business broker; maybe. Practically every teenager who
just received their driver's license is ready for HIGH SPEED ACTION DRIVING on
our super highways; . . . maybe not.
Being a business broker is understanding the art and craft of the deals
that close. You remember
"Do-Re-Mi" by Richard Rodgers and Oscar Hammerstein II in The Sound
of Music. If you don't, stop
reading and go watch a wonderful movie.
I'll wait for you. Maria wants
the children to start at the beginning and build upon the art. She sings seven notes associating each
note with something the children can remember; like "me, a name a call
myself." Aha, business
broker is a name you call yourself.
But, this doesn't mean you understand or can sing out that you are a
business broker, you have more to learn.
You are not a business
broker yet; license or not.
Navigating business
transfers is complicated at best. You
should not take it lightly, especially through rough seas, i.e. financial
recasting, due diligence, contingencies, lease assignment, marketing, work with
buyers, to name a few.
Being a business broker conveys, "I know what I am doing; I can
sell your business." Remember,
both seller and buyer is placing their trust in a broker's ability to
successfully broker the business transfer. After all it's
not the name that’s important; but your ability to actually deliver a close
deal. Don't do this unless you
know what you are doing, learn the craft.
Do I need a license to be a business broker? Yes you may, but having a license and calling yourself a
business broker is only the beginning.
Join a firm that will coach and train you in the craft and art. I did and it has been the best
experience yet. I have learned so
much and continue to grow professionally just being part of the team. VR Business Brokers team membership is
a great beginning. One that in a
very short period of time you too can truly call yourself a business broker
come to know and understand the craft and art of business brokerage by joining
VR Business Brokers. Like
Maria says, "once you know all the notes you can" . . . make a
million different deals. Contact
VR Business Brokers in Boca Raton today!