Why hire a BB

Why should I hire a Business Broker?

INCREASE BUSINESS VALUE BEFORE SALE – A competent, knowledgeable, experience business broker will review your business and provide specific, constructive recommendations to increase your business value.  The ownership team can evaluate and, if appropriate, invest the time, energy and resources to implement the recommendations.  Consider a business valuation EARLY in your process;  it answers the question “What is my business worth?”

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, as well as their extensive networks. Target marketing through trade publications, direct mail, and Internet sites specifically for business transactions may be used to reach buyers. 

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.

FACILITATE DUE DILIGENCE – The business broker understands the type and nature of information that will be required by prospective purchasers (and their lenders) during the due diligence process.  Identifying, obtaining and organizing this important collection of data will simplify the due diligence steps.

NEGOTIATING THE BUSINESS SALE TRANSACTION – The business broker will be a vital advisor during the sale transaction.

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