Selling a business is a very complex process. You should rely on an expert trained in the sale of a business. An experienced business broker will prove to be an invaluable asset. A professional business broker can provide you with a selection of different and, in many cases, unique businesses, including many that you would not be able to find on your own. Approximately 90 percent of those who buy businesses end up with something completely different from the business that they first inquired about. Business brokers can offer you a wide variety of businesses to look at and consider.
Business brokers are also an excellent source of information about small business and the business buying process. They are familiar with the market and can advise you about trends, pricing and what is happening locally. Your business broker will handle all of the details of the business sale and will do everything possible to guide you in the right direction, including, if necessary, consulting other professionals who may be able to assist you.
A Business Broker provide the following benefits:
We require prospective buyers to sign a non-disclosure statement which outlines their responsibility to having access to a seller’s confidential information. An owner could experience disastrous results by “leaking” the business is for sale. Employees, customers, suppliers and competitors’ relationships could be damaged causing an adverse condition hurting the potential sale. A business broker will preserve the confidentiality of the selling company during the process of marketing the business and working with buyers and only share information on a “need to know” basis.
The business owner is an expert at running the business buy may not be as knowledgeable about the selling process. A business broker will provide the business owner with strategic information regarding market timing, market conditions, market price, financing options, structuring the transaction and other information that is advantageous to the owner.
Procrastination and delay are critical factors when structuring a deal. Therefore, and business broker will continually move the process forward with qualified buyers, financing resources and associations to the deal such as CPAs and attorneys. A business broker is in a better position to perform this function than the owner as he/she is focused on the life cycle of the deal. The owner will be allowed to focus on operating a profitable business.
Selling a business is often emotional for the business owner. A business broker will act on behalf of the owner and will establish a string negotiating position without compromising the goodwill and relationship between the principal parties. An intermediary will increase the opportunity to receive the best price for the business.
A business broker is a skilled professional in the mergers and acquisitions world and has established relationships with many professional organizations which are required to complete the transfer of ownership. These relationships will prove to be extremely beneficial to the business owner and the buyers.