Know-How Exchange : Strategy

Generally speaking, has anyone any advice about working with a business broker with respect to buying a business? Apart from a retainer fees, what costs may be involved (apart from the purchase of course)?

What alternative strategies are available were we not to utilize a business broker? Does it make sense to execute a search on our own behalf? What are the pros and cons of contacting companies directly to determine if they might entertain a sale of their business?

My opinion is that our company reputation is less at risk if we hire a business broker to carry out the task of locating a suitable marriage as some of the likely suspects are targets for our reseller channel products, for example.

Does anyone have a business broker they have worked with on the buy side and would recommend?

Thanks much.

Fred