In this review, we will cover the best business brokers in Illinois and their individual features. This can help you make a decision on the right broker for your company. By getting your business in front of the right buyers, you can make sure you get the highest value.
When the time comes to sell your business in Illinois, you want to be taken care of. There are a lot of things to consider and a lot of boxes to check in that transaction. On top of that, you may also want to make sure that your business is going to the right buyer.
Business brokers in Illinois can act as a matchmaker for your company and the right, targeted buyer. Often, they have deep benches of people who are always on the lookout for business opportunities. These are known as buyer pools and are one of the main selling points of using a business broker.
Sunbelt Business Broker Illinois (Best Business Brokers In Illinois)
Sunbelt Business Broker has offices all over the state of Illinois. They cover every major metropolitan area and have agents in each area that know the market. This makes them a great choice if your company is very attached to your specific area.
Sunbelt deals in middle-market businesses. Although, it should be noted that they don’t make any clear boundaries about what that means. Most of the businesses on their roster sell anywhere from $50,000 to $15,000,000.
Sunbelt has a massive roster of businesses for sale. Their online marketplace is full of companies of all sizes. Because of this, you may have a difficult time standing out from the crowd and getting offers quickly.
Murphy Business & Financial Corporation (Best Business Brokers In Illinois)
Murphy Business & Financial Corporation has offices all over the United States. However, their Chicagoland office is run by Terry Flanagan and has affiliations all over Illinois. Terry is a Certified Value Analyst through the NACVA.
With access to so many resources, you have great odds of getting your company in front of buyers. They even deal in franchise opportunities if you are looking to expand instead of sell. This makes them one of the better business brokers in Illinois if you are not quite sure which route to go.
Because this particular area is covered by just one agent, you may not be able to get as much attention. If you were to go with a broker with a bigger team, you might have a more personalized experience. This could be a deal breaker if this is your first company sale.
The Grasemann Group
A Mergers & Acquisitions firm specializing in the Greater Chicagoland area, The Grasemann Group knows the area. Since 1999, they have been helping business owners find quality buyers. This makes them a great choice if you are interested in tradition.
The Grasemann Group specializes in small to mid-size companies. They take a personal approach to selling your company which could be a major plus. They like to think of themselves as guides on the Mergers & Acquisitions journey.
If you have a larger company or are looking to expand, they are not going to be your best choice. They are a boutique brokerage that only takes on companies they can take an interest in. This is good if you fall into that bracket, but if not, look for other business brokers in Illinois.
American Business Acquisitions, Inc
If you need a business broker that focuses specifically on Chicago, American Business Acquisitions is for you. They have expertise when it comes to the city and a love for the American Dream of owning a business. This makes them a great choice if you are retiring and want a smooth transition.
American Business Acquisitions has a lending program that will open you up to even more buyers. By offering financing, they are able to open your company up to a wider variety of buyers. Also, you get to keep everything under the roof of business brokers in Illinois.
One thing they require is a stellar review record on Google. This is an important factor that helps them decide to take on a sale. If you haven’t done much work on your Google reviews, they may not be the best choice for you.
Business Broker Experts
The CEO of Business Broker Experts, Jim Beno, has owned, managed and sold his own businesses his entire life. He knows all about the challenges and roadblocks that come up during a big sale like this. He has been working with owners to sell their companies since 2003.
With Business Broker Experts, there is no fee to list your business. This kind of low risk makes them a good choice for those who aren’t quite sure they are ready. It could be a good opportunity to dip your toe in and see if you are able to generate offers.
Business Broker Experts deals in business with annual sales of $1,000,000 or more. This means that if you are a smaller business, you are going to have to look elsewhere. Luckily, there are many options for you on that front.
Jackim Woods & Co.
For over 25 years, Jackim Woods & Co. have been taking an active interest in their clients’ sales. They will work with you to help you set your goals and manage your expectations. They like to be involved in every single step which could be a plus for first-timers.
They are consultants for all kinds of buyers and sellers. They will even consult you on raising capital for your next business venture. Because of this, they are a good one-stop-shop for entrepreneurs of all types.
Jackim Woods & Co. has a very specific set of niches that they deal in. This means that if your company does not fit in on this list, they will not take the sale. Because of this, obviously they are not going to work for everyone.
Chicagoland Business Brokers
If your company deals at all in the healthcare field, Chicagoland Business Brokers could be a good choice. The company’s CEO, Robert Uhland, owned a private dentistry practice for 25 years. Now, he helps other healthcare professionals sell their practices.
Selling a medical practice can be one of the most complex transactions to make. Having someone on your side who knows the ins and outs could be incredibly valuable. He also claims to bring the same bedside manner that made him a successful dentist to his brokerage.
If your business is not involved in the medical arena, Chicagoland Business Brokers may not be for you. Although they have branched out to other industries, they are primarily focused on private practices. This is an important thing to consider before requesting a valuation.
Leading Edge Business Brokers
Leading Edge Business Brokers has a buyer pool made up of over 6,000 individual buyers and groups. Because of this, they have a wide variety of leads that they can generate to get offers rolling in. A big buyer pool is always an attractive feature in a business broker.
Leading Edge prides themselves on their confidentiality. Corporate espionage is a real danger if you are working with high-levels of income. This means that they might be a good choice for you if discretion is of the utmost importance.
Although they are based in Ottowa, Illinois, they do business with online companies and companies from all over. If you are a brick and mortar company that values a local presence, they might not be for you. A broker that is more local can offer you a more local buyer pool.
If you have a business in the $50,000 to $5,000,000 range, Satterlee Associates, Inc. can sell it. Their CEO, Bill Satterlee, has been a business broker since 1985. With that kind of experience in the area, he knows the market incredibly well.
Satterlee Associates, Inc. operates on a philosophy of confidentiality and due diligence. Their main concern in a transaction is to make sure that everything is out in the open. Because of this, they will do a thorough valuation and background check on both you and the buyer.
Elite Business Brokerage
Elite Business Brokerage has all the tools that you need to make your company look as attractive as possible. They specialize in the marketing aspect of the sale. Because of this, beginners are very welcome here and will get a good look at the marketing side.
They offer everything from digital branding to graphic design. They understand that an attractive listing will do wonders to get your company sold. This kind of marketing help is absolutely indispensable in a big sale like this.
If your company does not need much marketing, Elite Business Brokerage may not have what you need. They have a lot to offer digitally but, depending on your company, that may not be of help. Only you can know whether or not your business will benefit from the marketing boost.
TurnKEY Business Brokers, Inc
TurnKEY Business Brokers operate out of West Dundee, Illinois and offer a free business valuation. If you want to work with a small, boutique business broker in Illinois, they could be a great choice.
For a broker like TurnKEY, their number one priority is to keep the process simple. If you are looking for business brokers in Illinois that will simplify the transaction, they’re a good choice. Not all Illinois business brokers will be able to streamline everything like them.
TurnKEY Business Brokers does not take just any business. They are very small and like to offer personal attention to their clients. Because of this, you may want to find business brokers in Illinois that take on a wider variety of transactions.
Lighthouse Business Brokers
Lighthouse are experts on the Chicago business market. They have experience in every single Chicago neighborhood. Their combined 40+ years of living in the city makes them one of the best business brokers in Illinois.
Lighthouse Business Brokers is able to boast a 95% sales success rate since they began. This means that should you meet all their criteria and they take you on, your odds are good. This makes them a great choice for those who are nervous about selling.
Lighthouse sells all kinds of companies including brick and mortar businesses. They also have offices all over the country that focus on their individual geographical areas. This could be a big help if you are looking to move or expand.
EatZ & Associates
For over 32 years, EatZ & Associates has been selling franchises and independent restaurants all over Illinois. Selling a restaurant is very different than selling pretty much any other type of business. If you are a restaurant owner, this is the place for you to look when it’s time to sell.
Many business brokers in Illinois don’t focus on restaurants at all. Any restaurant owner knows that it takes a special kind of person to do the job. Because of this, EatZ & Associates understands that and can manage the sale accordingly.
Although they do many sales in Illinois, EatZ & Associates is not just an Illinois business broker. They sell restaurants all over the country. If you are dead-set on dealing with business brokers in Illinois, they may not be your best option.
Chicago Practice Sales
Although they are few and far between, there are a few business brokers in Illinois that specialize in medical practices. Chicago Practice Sales is one of them. Much like restaurants, medical practices are an entirely different animal when it comes to selling them.
Chicago Practice Sales will appraise your practice and take care of things like insurance and patient records. This is where it can be complicated and where having a good broker comes in handy. They have the benefit of years of experience behind them doing this exact thing.
Syed Brokerage & Capital Co
Syed Brokerage & Capital Co have overseen the sale of many businesses and franchises since their inception. With a combined 100+ years of experience, they are able to invest the time in their clients. This makes them a great choice if you need a little more attention.
They deal exclusively in franchises of things like fast food restaurants and gas stations. If your company is more independent, you may want to look at other business brokers in Illinois. Syed Brokerage & Capital Co may not know your market as well as some others do.
SourceWorks Incorporated prides themselves on being respectful and discrete when it comes to Mergers & Acquisitions. They are big on helping buyers and sellers transition smoothly. This makes them a good choice if you are concerned about who is taking over your company.
They are licensed with the International Business Brokers Association. Not all business brokers in Illinois have that distinction. If that sort of licensing is important to you, they could be a good option.
ABA Advisors, LLC
One of the business brokers in Illinois dealing in accounting and tax practices is ABA Advisors, LLC. Much like a medical practice, these can be extra complicated and require a specific area of expertise. ABA Advisors is able to offer that and can help make sure everything is buttoned up.
Obviously, if your company does not deal in taxes or accounting, they will not be the best choice. If you fall into these categories though, they are one of the best business brokers in Illinois for you.