Tyler G. Hicks, the president of International Wealth
Success Inc., is the author of many wealth construction
publications, along with the Financial Broker/ Finder/
Business Broker/ enterprise advisor Kit. Here are some
of his insights about finder fees.
1. What does a finder do?
Loan Finder
A finder brings together a need and a source for an
individual or company. For example, an oil enterprise might
require real estate (with a obvious motor vehicle traffic
volume) for the purpose of operating a service station.
The finder locates this real estate for the oil enterprise
and earns a finder's fee for this service.
Another example is seeing a convenient lender for a loan;
this is the most common finder fee situation.
2. How are finder fees calculated?
The starting point is five percent of the whole of the
find, either it is for loans, property, et cetera. Of
course, finder's fees are negotiable and can sometimes
be only two or three percent of some finds.
3. Is seeing best fine as a full-time or part-time
business?
Finder fees are more often a secondary, supplementary,
on-the-side source of wage earned in conjunction with
some other main business.
4. What businesses or situations are especially conducive
to earning finder's fees?
The raising of money as well as the seeing of real
estate, rare minerals and unusual materials are good
areas to earn finder fees.
5. What are the best areas for earning finder's fees for
someone just starting out?
Finder fees for the raising of money is the best area
for starting wealth builders. The need for money is
universal.
6. Where do you find finder fee opportunities?
Read and advertise in such publications as International
Wealth Success Newsletter, The New York Times, The Wall
Street Journal, and other big city newspapers and
business publications.
7. What guidance would you give someone who wants to start
earning finder fees?
Don't take expand fees. Pick an area in which you want
to work, by type of goods or situation --not by
geographic location. Start advertising your services.
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