Tabb.org
Title
Texas Association of Business Brokers - TABB
Description
The business of brokering businesses has its roots in England where for the past 250 years Business Transfer Agents have been handling the sale of existing businesses. Newspaper ads and phone directories date business brokers in the U.S. back to the early 1920's. It wasn't until the mid 1940's that major Texas newspapers established a "Business Opportunities" section in the classifieds. In the 1960's this section was separated into "Business Opportunities" and Businesses for Sale." By 1970 there were less than 600 business brokerage firms in the U.S. and less than 10 such firms in Texas. Up and through the 1970's business brokerage in Texas, as well as the United States, was for the most part unorganized with no sources of education, no common standards of operation and minimal communication between brokerage firms. Most business brokers came into the business from the real estate field or accounting field and functioned as lone wolves operating in a vacuum from the rest of those in the business. There were no standards for adjusting and presenting business financial information and few if any, common methods for valuing businesses. As a result, the industry suffered a low success rate and a high turnover of agents.
As the number of business grew in the U.S. and Texas, so did the need for people to sell businesses as their owners reached retirement, suffered from ill health or became tired of their business and desired alternative investments. Some of our older brethren tell us that there were attempts to establish business brokerage associations in several states; however, none survived more than a few months. Many of the business brokers felt that they had all the answers and did not want to share their knowledge, or lack thereof, with others they deemed to be incompetent.
In 1981,with the initiative of a few brokers in Houston, Texas changed the profession forever by first agreeing to meet and discuss common problems. From these meetings evolved the Texas Association of Business Brokers, which in turn has helped spawn the International Business Brokers Association as well as many regional and State business brokerage associations.
Contact
- TexasAssociationof Business Brokers
-
- Arlington TX
- United States 76006
-
- +1.9999999999
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