What is the type of business called where you buy and sell businesses?
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A Business Brokerage firm specializes in buying and selling businesses, acting as intermediaries to facilitate transactions between buyers and sellers. These brokers work closely with both parties to ensure a seamless sale process and provide additional services like business valuations, marketing, negotiation expertise, and due diligence. With an extensive network of contacts and resources, business brokers can effectively market the business for sale to interested buyers. Their clients typically include small business owners and entrepreneurs looking to buy or sell an existing business. For their services rendered, business brokers usually earn a commission, calculated as a percentage of the total sale price.