Becoming a Business Broker or M&A Advisor
Frequently Asked Questions (FAQs)
Q: Do I need a license?
A: Yes. Many states, including the State of Minnesota, require a license. Minnesota specifically requires a real estate salesperson license. More info here:
Q: Why should I choose Sunbelt?
A: Sunbelt Business Advisors Minneapolis office entered the Twin Cities market in 2001. Since then, the company has grown to become Minnesota’s Largest Seller of Companies. We list the most businesses, have the most agents, close the most deals and provide the best support of any firm. Sunbelt was also up 20% during the Covid-19 pandemic while the industry was down.
Our Minneapolis office was voted as one of the top places to work by Mpls. Business Journal.
We advertise through multiple channels like radio, cable, web ads and social media to further expand our substantial client list.
We operate as a team. In addition to your fellow brokers, you also have access to a Sales Manager, Director of Finance, multiple Administrators, Business Development team and General Counsel.
Q: What type of skills and experience do I need to be a business broker?
A: Business Brokers and M&A Advisors tend to be entrepreneurial; many are former business owners. All of them are smart, good with people, and tenacious. More info here:
Q: Do you provide training?
A: Training at Sunbelt is provided many ways. At Sunbelt, there is a team atmosphere that is hard to find anywhere else. Because of this, one way new brokers are trained is through other Sunbelt employees: President Chris Jones, Sales Manager Matt Schroder, experienced veteran brokers, and other support staff. Sunbelt also provides a virtual 10-week Certified Main Street Business Broker (CMSBB) training, technology and prospecting training, live weekly Quattro training, a world renown sales trainer, and other online resources for new brokers.
Q: How’s the marketplace?
A: Baby boomers own 66% of companies and they are retiring in record numbers. This is causing a “silver tsunami” of retiring business owners.
Sunbelt is also experiencing a record amount of buyer activity driven by availability of capital and high interest in business ownership. Strategic buyers and PEGs are also highly active on the M&A side of our business.
Q: How much do Business Brokers and M&A Advisors make?
A: We hire Business Brokers and M&A Advisors as independent contractors. The amount they make varies based on the type of transactions they work on and their experience level. Our top producers make over $500,000. Experienced deal makers (4+ years) should make $250,000 – $500,00 if they are working full time.
Q: Do I have to work full time?
A: Because Business Brokers and M&A Advisors are independent contractors we do not control your hours. However, we do not recommend STARTING in this profession part time as it takes too long to ramp up. By working full time when you start, you ramp up much faster.
However, this is a career that highly favors experience. As you get more experience you will likely be more selective on the type of listings you take on. This will lead to you cooperating with other members of our team on smaller opportunities or industries where you have less experience. Our team approach allows brokers who are approaching retirement to take on less projects, but still develop passive income streams by referring business to other brokers.