FCBB franchise development initiative targets new business brokers
First Choice Business Brokers has launched a recruiting campaign as it cites a looming wave of small-business sales and limited broker supply.
By Maya Lindqvist · Senior Technology Correspondent
2 min read
First Choice Business Brokers launched its FCBB franchise development initiative on Sept. 1, aiming to recruit franchise owners as the company expects more small-business owners to consider selling. The campaign is intended to accelerate growth of the company’s business-broker franchise network.
FCBB said the initiative brings its search, social-media and public-relations work into one recruiting strategy. It is aimed at experienced professionals with financial literacy, relationship-building experience and leadership backgrounds.
What does FCBB’s franchise development initiative do?
The effort is a recruitment campaign for prospective business-broker franchisees. FCBB is seeking people who can enter its brokerage franchise system, rather than announcing a new service for owners seeking to sell their companies.
Linda Nyman, FCBB’s co-founder, tied the expansion plan to what the company described as a shortage of experienced brokers relative to the number of owners preparing for an eventual exit. Jeff Nyman, also a co-founder, said the company views business experience, judgment and relationship-building as common traits among successful brokers.
Company cites small-business succession demand
FCBB said the United States has more than 30 million small businesses and that roughly 20% of their owners are considering a sale, which it estimated would amount to about 6 million businesses. It also put the nationwide number of full-time business brokers at about 4,500.
Those figures form the company’s case for expanding the network, but FCBB did not identify the underlying research in its announcement. The campaign’s effect on broker supply or on access to brokerage services in individual markets remains uncertain.
Who is FCBB seeking as franchise candidates?
The company says it looks for candidates with business-ownership or management backgrounds, including midlevel or senior management experience. Prior business-transfer experience is not required, according to FCBB’s franchise-candidate materials, though it says candidates should have access to liquid capital.
FCBB describes its business broker franchise opportunity as having more than 30 years of operating history, a capital-light structure and training and support through First Choice University. Those are company descriptions of its offering, not projections of franchisee performance.
The announcement says individual results vary and that no earnings or investment outcome is guaranteed. Prospective franchisees are advised by FCBB to review the Franchise Disclosure Document and consult independent professional advisers before making an investment decision.