In the initial meeting, the business broker will ask you a series of questions aimed at matching you with the right business. You'll be asked about: Preferred business types and sizes, preferred locations, time frame to purchase, how long you've been looking, how much income you need, and your ability to purchase a business.

The business broker will describe businesses that match your needs as closely as possible. If you find one that looks good, the broker will ask you to sign a Buyer Registration and Confidentiality Agreement before providing detailed financial and other information about the business.

ost owners want to maintain confidentiality that their business is for sale because of the negative effect it could have on employees, customers and vendors. The Registration Agreement explains that the business broker formally represents the seller buy has a legal responsibility to be truthful and accurate to the buyer. The seller, not the buyer, pays the business broker's commission.

If you've decided this is the right business for you, the business broker will help you determine a fair purchase offer. The broker will provide the communications link between you and the seller, and present your offer. If the seller decides to make a counteroffer, the broker will present it to you.

Once you and the seller agree on an offer, the business broker will work with your attorney and accountant and schedule a closing. The broker will assist you every step of the way.