Most business brokers hate self-funded searchers.
(and rightly so!)
But when approached correctly, you can create a powerful symbiotic relationship
First, why do most business brokers hate self-funded searchers?
Long story short, most are tire kickers who'll never close on a deal.
Specifically, most self-funded searchers:
Lack the funds to close
Present SBA financing risks
Consume more of biz brokers' time
Have historically lower closing success rates
Add unnecessary deal complexity via DD and negotiations
You'd probably hate working with this person too (especially when your pay depends on closing a deal!)
So how can a self-funded searcher buck this reputation?
Refine your deal criteria, elevator pitch, and deal financing
Know how you'll fund a deal
Clearly define your deal "strike zone"
Know why you're a valuable potential buyer
Begin with a specific deal
Introduce yourself in context
Have a short initial question list
Keep your pitch concise & focused
Focus on providing value, not being likeable
Provide candid feedback
Review deal material + respond quickly
Ask additional questions minimally & unobtrusively
And if the deal isn't for you, clearly tell them why, and try to refer them to other potential buyers
Best case scenario: it's your perfect deal, and you quickly close.
Worst case scenario: you pass, but the broker now knows what you're looking for, and if your potential reference closes on the deal you scored major brownie points for future deals.