Have you been considering retirement? Are you unsure about the benefits a business broker has to offer? If you’re aiming to get top dollar for your business with less effort and less hassle, you owe it to yourself to learn how a broker can help.
So, then, what are the benefits of working with business brokers? What tangible, measurable things do you stand to gain by working with one? In today’s post, we’re going to look at four reasons you’ll be happy you chose to partner with us.
In general, the involvement level of different business brokers varies. But, if you’re aiming to get the most for your business, a business broker can help, because above all else, a broker works for you. During the transaction, we’ll be looking out for your best interests, trying to maximize your business’ value, and attempting to secure the best deal possible.
Throughout the sale, we’ll negotiate countless things on your behalf, including valuation, financing, real estate, and post-sale commitments. But, no matter what, you can be confident that we’re on your side and working to secure the best possible outcome for you.
When listing their businesses for sale, most owners want to maintain their confidentiality. If your customers, employees, or competitors discover your business is for sale, it can have a negative impact on your operations and, by extension, your sale price. Employees, fearful they could lose their jobs, may leave. Customers, concerned they may lose access to your services, may look elsewhere.
Ultimately, this arrangement benefits both the buyer and the seller. With nondisclosure and confidentiality agreements in place, you can move forward with your sale without fear of alerting the public too soon.
One of the most important things you can do during the sale of your business is continue its operations. By avoiding disruptions, you’re able to assure employees that their jobs are safe, show purchasers that the business is stable, and steadily grow the business’ value.
When you work with a business broker, they handle all the minutiae of the sale. They locate potential buyers, qualify them, and – if necessary – provide financing options. And, while all of this is happening, you’re free to focus on what you’re good at: running your business.
Over the years, you’ve built a network of trusted suppliers, contractors, and industry experts. And, just like you, business brokers have done the same. Whether it’s a database of interested parties, a network of established leads, or a collection of advertising channels, brokers have more ways to put your business in front of potential purchasers.
But, when owners list their businesses for sale, they may not know what kind of buyers they’re looking for. Experienced business brokers pride themselves on their ability to put the right businesses in front of the right buyers.
Yes, listing your business for sale requires you to know your company. But, it also requires you to know how to market your business. Since most business owners aren’t marketing experts, it pays to have one on your side.
Business brokers can identify your company’s unique selling points and use them to attract interest. More importantly, correctly marketing your business often means that you can realize a higher price when it comes time to sell.
When selling your business, your focus should be on maximizing its value. You can accomplish this by managing its day-to-day needs, retaining its employees, and assuring customers that it will continue to serve them. You don’t have time to pre-qualify prospective buyers. In a lot of cases, when a buyer begins their business search, they may not know their financial capabilities.
A business broker can help ensure that you’re working with serious, legitimate purchasers who have the financial ability to follow through. They should monitor, manage, and guide the selling process to ensure smooth transactions and no surprises.
A business broker’s business is the business of selling businesses, which is a really difficult thing to say quickly. But, when you’re building an exit plan and looking to retire, sell, or shift industries, it’s a great thing to have working in your favor.
Armed with information about recent sales, business values, and negotiation experience, brokers can better position your business to sell quickly. And, better yet, because they have this expertise, brokers can often realize higher prices for the businesses that they sell.
Being so close to your business, it can be challenging to assign a value to it. Business brokers use their expertise to correctly value your small business, which allows them to better market it to potential buyers. A reasonable asking price ensures that you’re in a good position when it comes to negotiating. In many cases, owners who drastically overvalue their businesses end up waiting years to entice buyers.
Selling a business takes time. It takes time to inventory its assets, determine its value, and identify potential buyers. It takes time to vet those buyers and explore financing options. It takes time to fill out paperwork and make phone calls. All of this time adds up and, eventually, can seem like a full-time job in and of itself.
Selling your business on your own can lead to all sorts of trouble. Without a broker, you’re on the hook for all of the risks. In a worst case scenario, you could fall prey to a scam and be left with zero profit.
And, whether it’s about the terms of the sale or the business’ claimed value, there are a number of potential legal pitfalls involved in selling your business. Business brokers can create clear documentation, purchase agreements, and terms and conditions to eliminate these risks.
It’s shocking how many deals fall apart just as the sale is about to close. According to recent studies, only about 30% to 40% of businesses actually sell. Negotiating your final selling price and keeping everything on track, business brokers move buyers towards your final goal: closing the sale.
By ensuring that contracts, permits, and licenses are in order, a broker can help to eliminate objections and more easily transition your business into a new owner’s hands. Best of all, a business brokerage can help with crucial transactions, paperwork, and other post-sale tasks.
When listing businesses for sale, it’s not just about making a quick sale. After your business is sold, you want to ensure that the new buyer is able to efficiently transition into running it. A business broker can help by managing all the necessary paperwork, contracts, and legal filings.
But, more importantly, business brokers can help buyers get off to a good start by providing critical post-sale services to ensure they have everything they need. And, even better, sellers are able to plan a quicker, more rewarding exit from their company.
Working with Advanced Business Brokers, you’ll leverage the advantages of our efficient, time-saving process. From planning to closing, our services handle the minutiae so that you’re able to focus on what matters: selling your company and starting your next chapter.
And, don’t worry, whether you’re a seller that wants to be actively involved or hands off, our advisors can help. So, if you’re on the fence about partnering with a business broker to sell your company, reach out to us today to learn how we can help. Of course, if you’re interested in businesses for sale, we encourage you to check out our online listings.
If you’re thinking about selling your business and don’t know where to start, consider speaking with our team here at Advanced Business Brokers. We specialize in brokering and advising exit plan strategies for various sizes/sectors of businesses.
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