First Choice Business Brokers – Las Vegas, Nevada

March 4, 2024

First Choice Business Brokers

A Franchise Legacy in the Making

 

Expanding territories as a pioneering ethical business brokerage

In business brokerage franchising, success begins at every level, from the ground up to the peak. Strategic development serves as our guiding compass, while visionary leadership, ethical business conduct, and dedication to excellence lay the foundation. Fostering a culture of open communication fosters collaboration, breathing life into our franchise.

It’s about cultivating a brand identity that resonates not only with franchisees but also with the businesses they serve. First Choice Brokers have access to a well-organized approach, top-notch training, cutting-edge systems, up to date marketing practices and unwavering support backed by over 30 years of experience.

The result is a network of thriving franchise territories united by a shared commitment to greatness, something that can be witnessed firsthand in the day-to-day operations of First Choice Business Brokers. The franchise’s brand has quickly become synonymous with trust, setting the gold standard in the dynamic world of business brokerage.

First Choice embraces transparency and compassion, ensuring every transaction reflects the utmost integrity, and focuses on building relationships to navigate buying and selling businesses with finesse. The formula for growth is crafted with comprehensive training, cutting-edge technology, and a supportive network.

Every franchisee is a vital part of a family that values the old-fashioned art of communication as much as it appreciates the efficiency of innovative tools. From the first day of onboarding to the monthly brainstorming webinars, the commitment is to equip every member of the team with the knowledge and skills needed to succeed. It’s a warm and welcoming community where franchisees are not just part of a brand; they are integral contributors to the legacy of success.

The Ethics and Elements of Success

Linda Nyman, President and COO

In 1994, Jeffrey Nyman and Linda Hentges-Nyman started First Choice as a small business brokerage venture in a modest 8 x 10 room in Las Vegas. Little did they know that their journey would lead to becoming the largest business brokerage in Nevada by 1996.

Following the franchising of First Choice, they’ve continued to attract the right franchisees for expansion, resulting in over 95 territories sold across 34 states, setting the stage for further growth.

Their expansion is grounded in a steadfast commitment to ethics, distinguishing them as business brokers who prioritize confidentiality and empathy. For many owners, selling a business is an emotional journey, as they’ve invested their lives and hard work into their venture.

President and Chief Operations Officer Linda Hentges-Nyman explains further, saying, “We train our offices to have the business ethics that sellers are looking for… we make sure they know that the process is confidential and treat them with respect.”

In addition to highly ethical conduct, First Choice attributes 3 key areas vital to the success of its franchisees: training, systems, and support. When new brokers are brought in, they are provided with comprehensive training to get them fully accustomed and prepared. Currently, onboarding involves live case studies and reviews, as well as 52 on-demand courses, each with an assessment that needs to be completed.

First Choice leverages the use of a proprietary, back-office operational system called the Office Management Suite (OMS) to host its entire onboarding process digitally in a way that’s very similar to the advanced systems you’d find in an official university curriculum. There are also monthly training webinars as well as an annual National Conference that brings in guest speakers to discuss the latest marketing and valuation strategies being executed at the national level. Overall, this approach ensures that each broker is equipped to navigate the intricate landscape of business brokerage and has resulted in an admirable franchisee performance baseline.

Our average broker is doing somewhere between 6 – 12 deals after their first full year, with our superstars doing somewhere between 20 – 30 deals a year,” says Executive Vice President of Franchise Development Melissa Salyer. These numbers indicate one thing: that business brokerage is an industry absolutely filled with profitable opportunities. And with such a favorable playing field, maintaining brand uniformity is paramount.

Jeffrey Nyman, CEO

“We are really involved with our franchisees to make sure that their branding is First Choice, that they are operational, and that they’re using the same methods of operation we use,” says Chief Executive Officer Jeffrey Nyman.

Ideal Franchisee Selection and Branding

Even with such opportunities, First Choice Business Brokers tends to attract and seek out a particular type of individual as its ideal franchisee.

We’re facilitators, not salespeople. We’re introducing buyers to opportunities, the businesses we’re selling. So, it becomes a consultative sales approach… we’re navigators, educators… we’re not salesy,” Hentges-Nyman explains.

PROVEN TECHNIQUES EQUAL ONGOING SUCCESS

First Choice emphasizes the value of traditional communication. Jeff and Linda’s open-door policy encourages franchisees to pick up the phone and call them if they ever need assistance.

In this way, even as the company advances digitally, the older yet tried and true ways of communicating remain a major part of the franchise’s winning formula, and the overall culture is one of support and reliability.

“We do all of their back office, we review their listings, we critique, we give them advice. We have a whole back office staff that acts as their admin, so they’re not hiring a bunch of staff. We have all of that in place for [franchisees],” Hentges-Nyman says, praising the supportive camaraderie between leadership and the company’s franchisees.

First Choice is constantly seeking and developing new ways to be of service to both its franchisees and clients and has currently amassed a huge library of resources to help with ongoing support.

Franchisees are provided with over 200+ fillable smart forms and educational training videos to help optimize the transaction at any and every stage.

By following a pre-established system of operation and leveraging its complementary tools and resources, First Choice Business Brokers has managed to reach a performance standard that sets it apart from other franchises.

Melissa Salyer, EVP of Franchise Development

As a testament to its excellence, First Choice has maintained a position in Entrepreneur Magazine’s Top 500 Franchise List for several years.  In fact, one of the franchise’s top agents, Trent Lee, is consistently recognized by the International Business Brokers Association for closing the highest number of annual transactions.

“We’re genuinely proud to bring aboard individuals who embody the right culture, possess a suitable business background, and are committed to upholding our standards of excellence.”

THE BUSINESS ROAD AHEAD

As First Choice aims to grow to 300-400 territories in the U.S., it remains focused on the success of existing franchisees. Currently, the company has brought on board new agents and offices, and the goal is to continue to cultivate the talent that has contributed to the current First Choice legacy.

First Choice stands as an industry leader with low competition, high commissions, and the potential for aspiring business brokers to thrive. The company continues to set the industry standard and innovate well into 2024 as it looks forward to further expansion.

Learn more about us contact Melissa Salyer – melissa@fcbb.com

AT A GLANCE

First Choice Business Brokers

What: A pioneering franchise in the business brokerage industry with a focus on ethical business practices, transparent transactions, and a commitment to excellence

Where: Established in Las Vegas, then expanded to 32 states in the U.S.

Website: https://fcbb.com/

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DIG DIGITAL?

February 2024 Business View Magazine cover

February 2024

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