Why should I hire a Business Broker?
MARKETING AND ADVERTISING – Designing a marketing plan specifically targeted to the types of buyer that would be interested in the business is a key factor. Business brokers use data bases of buyer prospects, professional associations, and investment groups. Target marketing through trade publications, direct mail, and Internet sites specifically for business transactions may be used to reach buyers. Advertising in newspapers both local and national are typically used.
Consider a business valuation EARLY in your process; it answers the question “What is my business worth?”
QUALIFYING BUYERS – The business broker will focus on those prospects (individuals, equity groups, companies,…) who provide financial statements, buyer profiles and resumes that indicate that they are financially qualified and who are genuinely interested in the type of business.
PRESENTING THE BUSINESS – The professional business broker is experienced in handling negotiations. The broker also offers the seller convenience of continuing to manage the business while the selling process is underway.
MAINTAINING PRIVACY AND CONFIDENTIALITY – Business owners are extremely concerned about confidentiality. A professional broker is skilled at protecting the confidentiality from the employees, suppliers, creditors, and customers of the business.
NEGOTIATING THE BUSINESS SALE TRANSACTION – The business broker will be a vital advisor during the sale transaction. Knowledgeable about negotiating price, terms, and other key aspects of the sale, the broker will guide the seller each step of the way. Proper deal structure will greatly affect the net amount that the seller will end up keeping after selling the business.