The Role of Business Brokers in a Sale
If you’re considering selling your business, think about bringing business brokers on board early to help you land a successful deal fast and at the price you want.
Selling your business can be more complex than you might think. Business brokers bring invaluable experience and deep knowledge to guide you smoothly through the sale of your business from beginning to end. At Sunbelt Business Brokers, we have decades of experience working with small and medium businesses.
Starting with accurately valuing your business, business brokers can market your company, screen potential buyers, and negotiate the best possible deal for you. You can get a jump on the valuation with a preliminary sense of the worth of your business from our business valuation calculator.
Here’s more information about the role of business brokers in selling your business.
Finding the Right Broker
When selling your business, working with the right business broker can be the difference between your business selling or not selling and you leaving the negotiating table simply satisfied or more than happy. Finding the right business brokers is crucial.
Check for these key attributes:
- Significant experience in your industry
- A proven record of successful transactions
- A strong marketing strategy
- An understanding of your business needs
You also want to check for credentials, ask for references from past clients, evaluate the effectiveness of the broker’s communication, and understand the fee structure.
Here are several questions to ask to find the right broker:
- How much experience do you have as a business broker?
- What’s your rate of success selling businesses like mine?
- What’s your marketing strategy to find potential buyers?
Consider making a list of at least three business brokers, asking these questions, and remembering to check on the fee structure and list of references.
Working With a Broker
Business brokers, such as Sunbelt Business Brokers, can help you get your business ready to be sold. Selling your business brings challenges and opportunities. It might seem like an expense you don’t want to afford, but bringing in business brokers at least a year before you want to sell can help you get the most out of your business at closing.
Business brokers who know your industry and learn about your company can help you increase the value of your business before selling it. Business brokers can also help with the valuation, marketing, screening of buyers, gathering and organizing of documents, maintaining confidentiality, and negotiating the deal to a close.
Maximizing Broker Value
To get the most out of working with a business broker when selling your business:
- Keep meticulous business and financial records
- Provide accurate and complete information
- Present a narrative about what makes your business stand out
- Work up growth projections
- Develop a business plan
Talk to your business brokers often throughout the sales process, directly address any concerns you have, and remain open to suggestions from your business brokers. They are working to get you the best possible deal when selling your business.
Trusting your business brokers to handle the entire process with your input can free you up to continue running your business. That allows you to maintain or add value to your company that can contribute to the outcome of its sale.
Find Business Brokers for Selling Your Business
When you’re ready to talk about selling your business, you now know the role business brokers can play in helping you land a great deal. At Sunbelt Business Brokers, we can do all the footwork for you and get you to close quickly and at the price you want. Give us a call today.
