Beginnings
The Northern Ohio Business Brokers Association (NOBBA) is a member-based association informally founded in the 1990’s as a number of Business Broker colleagues from the Cleveland Ohio area began having lunch together to talk shop and discuss their “deals” or so the story goes… at some point along the way, it made sense to invite a few attorneys, accountants, and bankers to the table as these were the business professionals who could come together to get these businesses financed and sold! The newly formed association leaned heavily (and still does) on the practices and ethics standards of the International Business Brokers Association (IBBA). They also made fast friends with a Columbus Ohio based group of Business Brokers deciding to have several joint ventures with them. In the years to come the association decided to join in with the Columbus organization to create a joint website together calling themselves the Ohio Business Brokers Association (OBBA).
Early Years
For well over a decade the two associations under one name continued to grow and change within their regions. Wealth managers, environmental specialists, commercial real estate agents and others were invited into the association as well. Co-sponsored events taking place in between the two cities became collaboratively enjoyed by members of both associations. With a larger audience, these events were able to feature some fantastic guest speakers to educate the attendees on emerging trends, SBA Small Business Administration regulations, as well as the tools and resources that Business Brokers needed to properly serve their clientele.
Today
Under the leadership of our five-member board of directors, NOBBA has set out to establish itself as an association on Ohio’s North Coast devoted to networking, education, and comradery within the small business community. It is our belief that through these relationships being developed that we will all serve our clientele better and become more successful at what we do. This absolutely includes our associate members who are NOT business brokers! We strive to provide educational and networking opportunities appropriate for bank and non-bank lenders, attorneys, accountants, wealth managers, commercial real estate agents and many others that support small business. NOBBA meets on the last Wednesday of most months from 11:45am to 1:15pm. Guests are welcome to drop by.
Business Brokers
The Business Brokerage industry has seen many changes over the years. Many “brokers” now use titles such as Business Intermediary or simply Business Advisor adding business valuation & exit strategy consulting services. Some brokers gravitate towards larger transaction sizes approaching the world of lower mid cap M&A (Mergers & Acquisitions) and others work with more “main street” style businesses. Many business brokers have considerable experience and specialization in commercial real estate or work closely with a commercial real estate partner, but selling a business is not the same as selling commercial real estate. Some brokers stand alone as independent practitioners and others are affiliated with large franchise organizations with vast networks of professionals behind them. The vast majority of Business Brokers in Ohio represent those seeking to sell their business, but some brokers will also represent potential buyers as they search for the perfect business acquisition for their needs.
NOBBA
NOBBA is devoted to the professional development and advancement of the business brokerage profession in Ohio. NOBBA is considered a regional affiliate of the IBBA (International Business Brokers Association) and leans heavily on the practices and ethics standards taught by the national association. NOBBA’s membership consists of business brokers, merger & acquisition specialists, financing experts, attorneys, accountants, wealth managers, commercial real estate agents, and many others whose expertise is frequently called upon in the purchase and confidential sale of privately-held businesses.