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
In the year 2021 under the leadership of our new 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 business brokerage industry. 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 affiliate members! We strive to provide educational and networking opportunities appropriate for bank and non-bank lenders, attorneys, accountants, wealth managers, commercial real estate agents and others! Today NOBBA meets on the last Wednesday of each month from 11:45am to 1:15pm at Melt Bar and Grilled in Independence Ohio. Guests are welcome!
The Business Brokerage industry has seen many changes over the years. Many brokers now title themselves business advisors or intermediaries adding business valuation & exit strategy planning services. Some broker-intermediaries gravitate towards larger deal sizes approaching the world of lower end M&A (Mergers & Acquisitions). Some broker-intermediaries have considerable experience and specialization in commercial real estate. Some of these broker-intermediaries are independent in nature and some are affiliated with large franchise companies with vast networks of professionals behind them. Most broker-intermediaries represent those selling businesses, but some will also represent potential buyers of businesses as well.