The Texas Association of Business Brokers and the International Business Brokers Association offer essentially the same courses. The Board Certified Broker (BCB) designation, offered by TABB, and the Certified Business Intermediary (CBI) designation, offered by IBBA, are very similar and have nearly identical requirements. When a person takes a course sponsored by either TABB or IBBA, that person receives credit for the same course from both TABB and IBBA.
The list of courses offered is summarized below. Both the BCB and CBI designations require 68 hours of education from the listed courses. The required courses are: Courses 101, 104, 120, 210 A & B, 220, and 221. This represents 68 hours, plus you can choose from another course as an elective to achieve the necessary education requirement.
TABB offers the required courses at the annual convention each year and certain courses at local chapter levels as demand can justify the expense versus the number of participants registering. TABB also offers non-required courses for the benefit of members who have been in TABB for longer periods and have had the basic courses
The TABB annual convention will offer all the required courses to obtain the BCB. Of course, it will be impossible to take all of the requirements during that single week since there are 60 hours required and usually only 32 hours available for courses during the week (4 days). You can take the other courses at a later TABB meeting or at an IBBA conference. TABB and IBBA have reciprocal credit for the courses.
TABB & IBBA Courses
Course #101 Introduction to Business Brokerage (8 credit hours)
This course is geared toward individuals interested in learning about the field of business brokerage. Learn about the role, value and ethics of the Business Broker in the process of finding sellers, preparing listings, finding qualified buyers, negotiations and closing sales. Become knowledgeable in the skill levels associated with the various Business Broker Associations, certifications and specialties. This course is required for CBI designation. No prerequisites.
Course #104 Legal Aspect of Business Brokerage (8 credit hours)
This course identifies ways to protect yourself and your commissions. It explains how to practice more profitably and with more informed regard for the law by covering some of the most important legal issues related to contracts, listing agreements, letters of intent and offers to purchase and closing documentation. Classroom licensing issues and explains discussion review through examples the proper procedures for listing, marketing and closing. Review sample forms that can be used in most business sales transactions. No prerequisites.
Course #107 Understanding Financials (4 credit hours)
Do you find recasting financial statements and tax returns a challenge? Before we can begin to recast, we should know what all those numbers on the tax returns and P&Ls mean and how they interact. This new Boot Camp Series Course will assist participants in that process by helping them to understand what all the “bean counters” seem to know and a lot of us find challenging. No prerequisites.
Course #108 Overcoming Objections in Listing and Sales Contracts (4 credit hours)
When attendees complete this Boot Camp course, they should have the knowledge and materials to help get more listings, satisfy most seller concerns and get more sales contracts signed. Discuss the four parts to overcoming objections: understanding the objection, anticipating the objection, selling yourself and practicing. This course is geared for new brokers and those who want to improve their ability to overcome objections. Recommended that you have taken Course #101 or equivalent.
Course #110 Selling Franchises (8 credit hours)
How can your firm identify franchise resale and new candidates? This course addresses the specific technical knowledge required to understand franchise law and practice. A comprehensive discussion of SBA financing is presented through a number of case histories explaining valuation, franchiser involvement in transaction and financing sources and techniques. No prerequisites.
Course #111 Business Brokerage Marketing & Sales (8 credit hours)
Learn marketing principles and sales and advertising techniques used by successful business brokerages. Leave this course knowing how to apply basic marketing concepts to create a firm’s approaches for “going to market.” Explore techniques such as direct mail, telemarketing, Internet marketing, building referral networks and other general advertising tactics such as media selection, promotional pieces, paid advertising and publicity. Improve the presentation skills that effect basic sales, psychological pacing and consultative selling. Students turn common objections into advantages and help develop their own marketing philosophy through practical exercises. This is a core skills program designed for brokers with less than two years in the business brokerage industry and amplifies material covered in courses #150 and #155. No prerequisites.
Course #120 Tax Issues of General Business Brokerage (8 credit hours)
This course provides tips on finding hidden information in tax returns and takes a look at the differences in stock versus assets sale and which one is most beneficial. Learn how the allocation of sales prices can benefit the client and how to avoid tax issues that could be a “land mine” to your transaction. Find out tips on how to increase the number of referrals from accountants. No prerequisites.
Course #130 Accounting Basics for Business Brokers (8 credit hours)
This course provides brokers/intermediaries with an understanding of basic accounting terms and fundamentals. As a “boot camp” for those without formal accounting training, you will learn how to read financial statements and tax returns, determine ratios and apply the information to a business sale. This course is highly recommended before taking #210 Recasting and #220 Introduction to Valuation. No prerequisites.
Course #150 Securing Sellers (8 credit hours)
Learn how to prospect for sellers, create an effective listing process and list and package a business for sale. This course focuses on how to build a sellable inventory. It is highly recommended that you have taken IBBA Course 101.
Course #155 Buyer Management (8 credit hours)
This course teaches attendees how to find and manage the buyer and helps you achieve success in main street business brokerage. Become skilled in creating and giving a buyer presentation, as well as helping the buyer through the multi-step buying process. It is highly recommended that you have taken IBBA Courses #101 and #150.
Course #158 Managing the Transaction (8 credit hours)
This course helps you achieve success in Main Street business brokerage by focusing on the last four phases of the business brokerage process: navigating the sale, removing contingencies, closing and following up on the sale. A significant portion of the course focuses on dealing with offers and landlords. It is highly recommended that you have taken Courses #101, #150 and #155.
Course #205 Power Networking (4 credit hours)
Did you know that many successful business intermediaries find more than half of their listings are obtained from networking and referrals by developing centers of influence? Learn where and how to network, along with tips on introductions and building relationships, how to connect with other professionals and how to become the go-to individual in the industry. This course is recommended for both Main Street and M&A practitioners. There are no prerequisites.
Course #206 Managing the Due Diligence Process (4 credit hours)
Learn how to take a defined and methodical approach at the due diligence process for transactions, whether large or small, simple or complex. Find out how to decide whether or not to take a listing and how to increase your chances of successfully closing each transaction. Discuss how to determine if a business is likely to have trouble during due diligence, identify possible impediments to closing, educate the seller and buyer about the process, control and manage the due diligence process and set up appropriate document review and control processes and systems. This course is applicable to both Main Street and Middle Market. Course #101 is a prerequisite. It is recommended that you have experience with recasting, financial statements and dealing with legal documents.
Course #208 FORMS: Their Use and Abuse (how they can make you money, improve your efficiency, add to your image, boost your reputation, or cost you a fortune.) (8 credit hours) (TABB credit only)
Any form used by an intermediary has legal ramifications as a result of its use. It is of utmost importance to know the legal and practical ramifications of each form used, along with their benefits and limitations. This course will examine the purpose of the forms discussed, their legal intricacies and the practical use and application of each under various circumstances.
Every intermediary, new and experienced, should take this course. It is a MUST!!!
The course looks specifically at a listing agreement (anyone’s listing agreement – bring your form and we will discuss one or more from the participants) and will dissect what is or is not there and what should be. The course also takes a look at various other forms in use, or which should be used by the business intermediary industry from a legal and a practical perspective (bring any form you use and we will discuss one or more from the participants). Examples of forms will be either taken from the participants or will be contained within the course materials. Additional forms and suggestions for developing a “Forms Practice” are discussed during this course.
After taking this course you will be able to (i) more effectively use forms, (ii) look more critically at all of the forms you use, (iii) begin the process of developing new forms for your practice, (iv) more systematically use forms throughout your practice, and in the process (iv) help protect yourself, your fees and the party you represent.
Course #210 Analyzing and Recasting Financial Statements* (16 credit hours)
Have you ever faced an income statement that shows little or no profits, yet the company is profitable? This two-day course focuses on recasting financial statements to maximize company earnings while minimizing your liability. Learn how to find and support increased earnings in a client’s business. In order to register for this course, you must have passed Course #130 or the #210 pre-test (if you would like to take the pre-test online, please go to www.ibba.org/pretest).
Note: Your conference registration will not be processed until you have passed the #210 pre-test or have registered for Course #130. Please contact the IBBA headquarters for eligibility. Textbook is highly recommended. * NASBA approved course
Course #215 Restaurants-Selling/Valuation (8 credit hours)
Restaurants are specialized businesses comprising a large segment of many business brokers inventory. This course highlights ways to effectively list, market and sell restaurants, as well as how to value a restaurant using traditional appraisal approaches. Learn to recast financial statements using industry averages, write effective ads and understand average unit sales. No prerequisites.
Course #220 Introduction to Pricing Small Businesses* (8 credit hours)
Learn to apply market data to determine the most probable selling price of a small or midsize business (sale prices less than $1 million) and how to report this as a “Broker’s Opinion of Value.” Study case problems, use information from different databases and apply this knowledge in class. This course helps you prepare a better listing and communicate more effectively about pricing and value. Review the three approaches to value with a primary focus on that used most often by brokers, the Market Approach. Course #210 is a prerequisite and this course #220 is required for the CBI designation. Textbook is highly recommended. * NASBA approved course
Course #221 Pricing Small Business – Level 2 (8 credit hours)
This course continues the development of important business pricing skills started in Course #220, focusing on those businesses typically sold for under $1 million. Discuss the Income and Asset Approaches in detail and learn how to reconcile differences between the various methods including the Direct Market Data Method. Find out how and when to use the Capitalized Income Method, Excess Earnings Method, the Multiple of Discretionary Earnings Method and others. Pricing Small Business prepares you to argue for or against the substance of a third party valuation report. Course #220 is a prerequisite, and this course #221 is required for the CBI designation.
Course #229 Professional Practice Management (8 credit hours) *Revised
All-new concept course on how to build and run a professional practice. A creative mix of advice from world-class advisors Michael Gerber (E-Myth.com) and David Maister (DavidMaister.com) expertly blended with valuable insights from our CBI course creators into solid blueprints for strategic success. Discover what’s right and wrong about how you do it today! Learn steps and skills that will transform your professional practice. Gain new insights on how to balance career demands and still have a personal life. Start your new practice right, or fix the firm you have, with the complete system for moving forward that you’ll get by attending this cutting-edge course. Suitable for new or experienced brokers or intermediaries. No prerequisite courses or required reading, but if you’ve owned a business before, or own your own firm now, or are just starting your firm, this course will have unique relevance to you. Prospective attendees are encouraged to review the web sites of both Gerber and Maister cited above. Textbooks referenced for the course are Gerber’s “E-Myth Revisited,” and Maister’s “Managing Professional Service Firms,” as well as newer materials from both authors.
Course #250 SBA Financing (8 credit hours)
Learn how SBA can be used as a tool to correctly position the Buyer and Seller. Review SBA financing and lender requirements and see firsthand how lenders and loan brokers use creative approaches to help close transactions. Learn how to truly pre-qualify transactions as part of your marketing activities and how to arrange loans from $25,000 to $4 million in the shortest possible time, using all the resources available to you. After completion of this course, you will be able to use SBA financing as a tool to list more businesses and close more deals. It is recommended that participants have taken Course #101 or #301 and have some understanding of business brokerage and the loan process. This course is recommended for both main street brokers and M&A intermediaries.
Course #280 Effective Negotiations for Business Brokers (8 credit hours – Colorado Real Estate Continuing Education Credit)
As a business broker, do you find working with unsophisticated and emotional parties in a transaction both challenging and frustrating? The course provides the tools to help you become an effective third party negotiator throughout the process of listing, marketing and closing a small business transaction. Learn how to apply negotiation principles, techniques and tactics that apply specifically to this environment to achieve the best results possible. Participate in exercises and role-playing that improve your negotiation skills when working with sellers, buyers and their advisors. This course is recommended for both new and experienced business brokers. No prerequisites.
Course #301 Intro to M&A Process (8 credit hours)
Introduction to Mergers and Acquisitions is geared toward individuals who are considering developing a professional practice as an M&A advisor. Such individuals may be general business brokers who want to understand the differences in activity and skills required in the middle-market; professionals and executives who have been involved in transactions but who have not acted specifically as a deal-maker and other professionals who have some related experience in middle-market transactions, but have not functioned as business brokers themselves, such as lawyers, accountants, etc. Learn what is involved in the mergers and acquisitions process, the intermediary’s role and value within the M&A process and the ethical decision making that must be applied throughout the M&A process. No prerequisites.
Course #304 Legal Aspects of Mergers and Acquisitions (8 credit hours)
This course teaches fundamentals and techniques in dealing with key transaction documents. It offers appropriate commentary regarding tax structuring concepts and teaches how to effectively work and negotiate with attorneys. Attendees will leave with an understanding of key components and strategies relating to confidentiality agreements, engagement letters, letters of intent and comprehensive agreements. No prerequisites.
Course #307 Financing the M&A Acquisition (8 credit hours)
This course explains how buyers structure deals from a financing standpoint. It is intended to survey the various types of financing (employed debt, equity and subordinated debt) and get you thinking about the relationship between buyer types, financing options, value and price. You will understand how M&A business acquisitions are financed and be able to educate sellers about financing structures, thus managing their price expectation and successfully close more deals. Please bring a financial calculator to class. No prerequisites.
Course #310 Marketing M&A* (8 credit hours)
Learn how to successfully contact and retain sellers of mid-market companies, how to motivate owners to sell and how to guide them through the selling decision. Highlights include educating business owners about the middle market and selling their company, targeting middle market owners and using that education as a selling tool to obtain clients on retainer. No prerequisites. * NASBA approved course
Course #311 How to Develop a Buy-Side Practice (8 credit hours)
Learn how to develop an effective buy-side practice by using a proven business model. Get tips on how to explain the value and need for buy-side advisory services to your clients and discuss marketing strategies that have been successful for others. This course is recommended for those who have taken Course #301 and have at least one year of intermediary experience. No prerequisites.
Course #325 Succession Planning* (8 credit hours – Can only be taught by Darrell Arne, CBI)
It is estimated that only five percent of business transfers are handled through business brokers. Why not capitalize on 100 percent of this burgeoning “succession planning” market opportunity? This course describes how to earn fees as a succession planning facilitator through the succession planning process and strategies. This interactive/multimedia course includes topics such as business valuation, minority discounts, transfer tax saving strategies, buy/sell agreements, giving to family members, ESOP’s, CRTs and positioning strategies to maximize the price. Courses #210, #220 and #221 are prerequisites, or equivalent business valuation experience. * NASBA approved course
Course #335 Maximizing the Value of the Privately Held Company* (8 credit hours – Can only be taught by Darrell Arne, CBI)
This course discusses how value is measured and created by understanding why “cash is king”; how the cost of capital is computed; benchmarking methods that pinpoint opportunities to maximize business value; identifying the value drivers of the business and the 100 strategies to maximize business value. Additionally, you will evaluate specific value-added services that financial consultants and business intermediaries can provide to maximize business value at the “deal stage” when a business is sold. IBBA Courses #210, #220 and #221 are prerequisites, or equivalent business valuation experience. * NASBA approved course
Course #341 M&A Research (8 credit hours)
This course is designed to provide overall strategies to enhance the methods and incorporate key sources to assist in investigating, researching and analyzing any transaction, industry, company or client. It is not intended to provide specific sources but to create the structure (i.e. lists) to guide you in the right direction to find the most likely source (best category) for the answers to questions most often seen/required throughout the deal process.
Course #345 Tax Boot Camp for the Merger & Acquisition Professional* (8 credit hours – Can only be taught by Darrell Arne, CBI)
If you’re a business intermediary who is, plans or wants to be involved in larger transactions, tax issues are paramount. Topics discussed: an overview of the Internal Revenue Code; taxes commonly paid by the privately-held business owner; tax rates; types of business entities: the four strategies for saving taxes and tax elections, depreciation and amortization methods, installment sales, allocation of purchase price, the pros and cons of asset sales and stock sales. The course manual includes checklists, reference materials, sample IRS forms and a glossary of business tax terms. A calculator is required for this course. Course #120 is a prerequisite or equivalent tax experience. No prerequisites. * NASBA approved course
Course #355 Managing the M&A Buyer Process (8 credit hours)
This course introduces new tools and processes to efficiently find a buyer who can close a deal. Learn how to establish a “demographic footprint” of the buyer, create a prioritized list of buyers, qualify the target list and create a targeted plan to sell the business. Find out how to talk to buyers and work with them during the initial tour of the business. It is recommended that participants are a CBI or M&AMI or have equivalent background, and have taken Course #301. Other recommended courses include: #304, #307, #335, #341 and #380.
Course #380 Negotiating the M&A Process (8 credit hours)
Would you like to increase the number of transactions you close (and make each one more profitable)? It’s all about negotiation through and within the M&A process! This course challenges your personal business goals as you assess your strengths and weaknesses as an M&A intermediary and learn new tactics and techniques for working through the M&A process. It examines the critical role negotiation plays in each step of the process through discussions about key issues and common concerns in transactions. Prior to this course you will be sent a brief case study to complete so that you may learn from the results presented during the course. The completion of CBI core courses and 1 year of M&A experience is required.
Course #385 Key M&A Negotiations (8 credit hours)
Learn about the two key negotiation milestones in a mid-market deal: securing the M&A engagement and managing negotiations with prospect(s) to the LOI. Gain the understanding necessary to create effective engagement agreements that are right for the client and fair for the intermediary. Once the engagement agreement has been executed, intermediaries use the full complement of skills and resources to negotiate the best outcome for their client. At these two points, intermediaries have the most influence on the outcome of a professional M&A process for all parties. No prerequisites.
Course #429 M&A Best Practices For Practice Development (8 credit hours)
Review examples of best practices from some of the most successful intermediaries in our business. Break down M&A businesses into several competency areas, such as business planning, leadership, infrastructure and branding. Learn why there is no single best practice, no single competency area that enables an M&A practice to be successful. Bring examples of your own best practices, as well as best practices taken from other professional service firms. Prerequisites for this course are CBI/M&AMI and/or M&A Source membership, along with at least two years of M&A intermediary-level deal making.
Course #421 Balance Sheet – A Uniquely Powerful Closing Tool (4 credit hours)
If the income statement sets the expectations of price, the balance sheet sets the terms of the deal. Understand the impact that the balance sheet has on the probability of a deal closing, the financing options or lack thereof, transaction structure, the closing balance sheet and ultimately the after-tax proceeds to the seller. Take away an understanding of the balance sheet and how to navigate the deal points that that will lead to more successful closings. No prerequisites.
Course #430 Advanced M&A Tax Strategies and Deal Structures (8 credit hours – Can only be taught by Darrell Arne, CBI)
This course reviews the four strategies for saving taxes, with a quick overview of taxable business transactions. This course focuses on how to acquaint business brokers/ intermediaries with specific advanced M&A tax strategies and deal structures to include pre-transaction intra family transfers using family limited partnerships, private annuities and self-canceling installment notes; pre-transaction company split-ups, spin-offs and spilt-offs that receive non-taxable divisive reorganization treatment; partial liquidation distributions when a portion of a company is sold; stock sales treated as asset sales under Section 338(h)(10). Discuss non-taxable acquisitive reorganizations which include statutory mergers and forward or reverse triangular mergers. Cover charitable remainder trusts in detail, plus the tax benefits of an ESOP, using an acquired company’s net operating loss carryover, the qualified small business company gain rollover and various other advanced M&A tax saving strategies. Course #345 and at least five years business broker/ intermediary experience are the prerequisites.
Course #455 Structuring Mergers and Fold-in Transaction Opportunities (4 credit hours)
This course is designed to provide the intermediary with an overview of the market opportunities available in sourcing “merger” and “fold-in” type of engagements. For purposes of this course, the definition of a “merger” shall only apply to the business issues involved in combining two companies. The “fold-in” type transactions to be discussed shall cover the practical deal points involved when a company makes an acquisition and relocates that operation into its own facility. Some of the topics covered in the course will include: why and how to seek out these type of engagements, right-fit assessment of the parties, advisor’s role in managing the process, approaches to determining deal value, transaction structuring options and how to get paid at closing. Case study examples will also be used in the course. It is required that participants are a CBI or have equivalent background of at least two-three years of M&A intermediary experience and have taken several 300-level courses.
Course #501 Standards of Care For Business Brokers (4 credit hours)
This course provides important business advice that helps you and your company avoid costly and time consuming lawsuits with clients, customers and/or other brokerage firms. Participants discuss first-hand experiences involving lawsuits, governing regulatory punishment and trade association sanctions involving business brokerage standards of care. Topics include:
Regulatory bodies that control and/or regulate the activities of business brokers
Canons of Professional Ethics and Conduct
IBBA Code of Ethics and Standard
Trade Associations that provide guidance
Rules and regulations of business brokers
The 10 commandments for safe brokerage
By investing in preventive legal work to update your forms, policies and procedures and obtaining a better understanding of the requirements for standards of care, you will ultimately improve the services provided to your clientele and minimize lawsuits, regulatory punishment and sanctions. This course is recommended for anyone in business brokerage. No prerequisites.
Course #550 Marketing with Seminars (4 credit hours)
This course outlines the steps to hosting a successful marketing seminar to attract potential clients and increase your book of business. Learn how to keep seminar costs reasonable and gain alliances with sponsors. A CD-ROM with documents, forms, checklists and templates that you will need to put on a seminar is included with course registration. This course is recommended for both main street brokers and M&A intermediaries. It is recommended that participants have taken Courses #101 or #301 and have a good understanding of the business brokerage process. It is suggested that participants take one of the companion courses, #551 (Main Street Seller Seminar), #552 (M&A Seller Seminar) and/or #553 (Putting on a Buyer Seminar) and a Speaker Training course.
Course #551 Seller Seminar for the Business Broker (4 credit hours)
This course covers the key topics and ideas that need to be communicated in a seminar to attract Main Street business sellers. At the completion of this course, you should have the beginnings of a customized PowerPoint presentation that you can use to put on a seminar that attracts potential main street clients and results in a listing. A CD with a sample seminar presentation is included with course registration. This course is recommended for main street brokers. It is recommended that participants have taken Courses #101 and #550 and have a good understanding of the business brokerage process so they can confidently put on a marketing seminar. It is suggested that participants also have taken or will take Train the Trainer or a presentation skills course. It is recommended that participants have taken Courses #101 and #550 and have a good understanding of the business brokerage process so they can confidently put on a marketing seminar. It is suggested that participants also have taken or will take Speaker Training or a presentation skills course.
Course #552 M&A Seller Seminar (4 credit hours)
This course covers key topics that should be presented in a seminar in order to successfully attract M&A business sellers and result in a listing. A CD-ROM with a sample seminar presentation is included with course registration. It is recommended that participants have taken Courses #101 or #301 and #550 and have a good understanding of the business brokerage process. It is suggested that participants have taken or will take a Speaker Training or presentation skills course. This course is recommended for M&A intermediaries.
Course #553 Putting on a Buyer Seminar (4 credit hours)
This course covers key topics that should be communicated in a seminar in order to successfully attract business buyers. Learn how to tailor the process covered in course #550 and discover how to host your own seminar to attract potential clients interested in buying a main street business. A CD-ROM with a sample seminar presentation is included with course registration.
It is recommended that participants have taken Courses #101 or 301 and #550 and have a good understanding of the business brokerage process. It is suggested that participants have taken or will take a Speaker Training or presentation skills course. This course is recommended for main street brokers and M&A intermediaries.
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