If you’re looking for information on Vested Business Brokers, you will discover everything you need to know in this in-depth Vested Business Brokers review.
We have done extensive research into this business broker which includes contacting them to learn everything we could about this firm.
Better Alternatives to Vested Business Brokers
As buyers and sellers of business ourselves, we’ve had the best sale valuation and customer service from the following broker.
Overview Of Vested Business Brokers
Vested Business Brokers is a business brokerage that was founded in the year 2000 by Nathan Goldstein.
Nathan started this business brokerage after being a successful Wall Street investment banker. While working as an investment banker he ran into deals that fell apart because of the great differences in the claimed financials by principals and the actual information found when doing due diligence. There was no way to compare reported financials by a company against the data of similar companies. There was no database that contained this comparable information. This led Nathan to start this business.
As noted above, this business brokerage has been in business since the year 2000. This means they have a very long track record and extensive experience in the field.
Not only do they sell businesses, if you’re looking to buy, Vested Business Brokers has over 3,600 active businesses for sale.
Nathan does not work by himself now. The Vested Business Brokers team consists of 93 business brokers each handling a different geographical area.
Types Of Businesses Vested Business Brokers Sells
As stated above, Vested Business Brokers allows people to buy businesses as well as list a business for sale. At any one time they have over 3,000 active businesses for sale and their team of business brokers has closed close to 1,800 transactions in their 20 + years of doing business.
Their database consists of more than 280,000 buyers all pre-qualified and ready to buy a business.
This business brokerage company sells businesses in a wide variety of industries including:
- Automotive repair shops
- Bakeries
- Bread routes
- Car washes
- Cleaning businesses
- Computer repair
- Convenience stores
- Dry cleaners
- Gas stations
- Laundromats
- Law firms
- Florists
- Franchises
- Pizzerias
- Pubs
- Restaurants
- Security businesses
- Tanning salons
- Transport businesses
and many other industries not listed here.
It seems that Vested Business Brokers sells businesses in almost every industry but it seems most are brick and mortar businesses.
If you’re looking to sell an ecommerce business or website, you may want to try a website broker.
Vested Business Brokers Valuation Process
Selling a business is never an easy decision. It’s critical to get a proper business valuation to make sure you get the most for your business. The business broker assigned to your geographical area will work with you to get the correct valuation for your business.
When you begin to work with this business brokerage, they gather information to tailor a custom business valuation. You will provide the information and they will put together a complete business valuation.
The valuation provided by this business brokerage firm is free and does not obligate you to sell with them. They will work with you to make sure you feel right about selling your company.
Sales Process
To gain even further insight into the processes used by this broker, we looked at each aspect of their sale process for this Vested Business Brokers review.
If you choose to list your business for sale with Vested, they promise to protect you throughout the process. Their goal is to provide an efficient and confidential process with your best interest their main concern.
Once you decide to list your business with Vested Business Brokers, their technology begins checking their database of over 280,000 buyers to see if there are any matches. This happens within 24 hours of listing your business on their platform. If there is a match to a buyer that is already in their system, your business may sell fast.
They also use multiple marketing channels to begin to market your business so it can be seen by potential buyers. Part of these marketing channels is having your business listed in Vested Magazine which is the weekly resource sent out to buyers and potential buyers.
When a buyer is interested in your business, you will receive the buyer’s information and name in real time. This includes their number and email so it’s totally transparent.
The brokers that work with this company guide you through the whole process and help to resolve any issues that may pop up during the process. They only move forward on each step when they have your approval first. They are with you through the entire process including due diligence and negotiation all the way to closing.
Vested Business Brokers Success Rates
Looking at the closure rates and success rates of any business broker is a good way to gauge how good they are at their work. This is not the only factor in determining if a business broker is good, but it’s one factor that we take into consideration when ranking a firm.
When it comes to the success rates of Vested Business Brokers, they have helped over 1,800 business owners sell their businesses successfully. This is about 90 businesses a year. This is a decent track record and it shows they do sell businesses.
However, the fact that they have over 3,600 businesses for sale at this moment, this means that the majority don’t sell. We don’t know their exact closure rates but based on the numbers they have for sale, it’s not as high as other business brokers.
Fees Charged By Vested Business Brokers To Sell A Business
An important part of analyzing any business broker is to look at the fees they charge to sell a business. We have contacted Vested Business Brokers for this review and asked about their fees since they are not listed on their website.
After we heard back, we found that Vested Business Brokers is a “pay for performance” based business broker. This means they only earn a commission if and when they sell your business.
Once they do sell your business their success fee ranges between 10% to 12% of the sale price.
This is pretty much industry average with some brokers being a bit higher and some business brokers that are quite a bit lower. Website Properties for example charge a much lower success fee.
Pros And Cons Of Using This Business Broker
After careful research for this Vested Business Brokers review, we are listing these pros and cons of working with this business broker.
Pros
- Long track record
- Experienced business brokers on staff
- Wide variety of industries served
- Great response times by email
- Free valuation
Cons
- Higher success fees than some
- Response times by phone not as good
- Not as personal as some smaller firms
- Low reviews by others across the web
Conclusion And Verdict
After looking closely at this business brokerage, we want to summarize our findings for this Vested Business Brokers review.
The thing we really like about this brokerage is that they have a long track record. Since 2000 they have been helping people buy and sell businesses. This means you can be assured that when you work with them, they have the experience to back them up.
We also like the fact that they respond to messages very quickly. When we contacted this brokerage they responded back within 1 hour 56 minutes. That’s very fast and we like that.
The other thing we like about this business broker is that they service a wide variety of industries which means no matter what your business, most likely you could sell through them.
Now that we have the positives out of the way, one of the things we don’t like about this firm is that they charge a bit higher success fee than some other business brokers. Some business brokerage firms offer a sliding scale based on the size of your business and it’s possible to get success fees as low as 3% if your business is large enough. Of course you should not only look at the commission they earn for the sale because there are other factors to consider a well.
Since they are a larger business broker with close to 93 business brokers on staff, you may not get the personal one on one service you may get with other smaller business brokers.
The thing that makes us a bit hesitant about fully recommending Vested Business Brokers is the comments and reviews we see across the web or not all that good.
For example on Yelp, there are several reviewers who state that several of the brokers on staff do not return phone calls while others complain about customer service.
On the Better Business Bureau website the firm has an A+ rating but very low customer reviews. That being said they have resolved every complaint as of this writing.
Overall, this business broker seems to have a good platform and a good process to sell a business. We like what we see overall but do not like the complaints we see from others who have had interaction with this firm.
We suggest contacting them by phone to see what your experience is. You may have a better experience than others.
Please let us know what you find out by leaving your review below.