Selling your business through a broker can be a wise choice. A business broker can streamline the process and ensure you get the best deal possible for the company that you’ve helped build.
A great broker takes a professional approach and listens to understand what’s important to the seller at the end of the process. It won’t always be just the final price but the terms around that price.
Here are a few of the most essential things a business broker can do for you.
Builds a Strategy Around Your Needs
A business broker will listen to your needs and craft a strategy that fits you and your company. Having extensive experience in marketing and negotiations is key to seeing the whole picture during the sale. Starting with realistic goals and the ability to see potential roadblocks when selling your business means your broker isn’t just your advocate, your broker will help craft compromise when needed. When the broker understands the seller’s personal and professional goals with the sale of their business, the final sale and terms will be favorable to the seller.
Provides Advice and Guidance
Selling your business is a big step. Your business broker can help you understand the pros and cons that come with the process and can advise you accordingly.
A great broker will have access to both legal and accounting services to navigate the sales process. Potential legal requirements or tax consequences are addressed and clear before closing the sale and transfer of your business.
Gives You Confidence About the Sale Price
Unless you have prior business sales experience, you might not know quite what to expect in terms of the valuation of your business.
A broker can explain the valuation process so you can be comfortable and confident with the probable sale price. There are often unique selling points to your business that a seller may not consider and a great broker will be able to craft a final price that reflects these features.
Connects with Banks to Streamline the Transaction
The best business brokers will connect with banks and other financial institutions to ensure that there are no roadblocks when it comes to financing the transfer, thoroughly reviewing disclosure documents and other pertinent details.
Your broker will often have relationships with banks that specialize in funding specific industries. That understanding can often lead to a successful sale that might have not occurred with a standard lender.
Brokers will also have relationships with local banks which can make the process even easier. Having a business broker on your side may even be a selling point in itself.
Identifies and Vets Prospective Buyers
One of the hardest parts of selling your business is finding potential buyers. You’ll need to not only locate interested buyers but also ensure that they have the credentials and the capital to complete the sale. A business broker can do that for you, allowing you to connect with viable buyers and weed out all others.
The Sunbelt Selling Process is a system from start to finish that helps ensure the deal moves forward with the right buyer.
Thinking About Selling Your Business?
If you’re thinking about selling your business, you might start by determining its value. Sunbelt Business Brokers of Naples offers a free valuation calculator. Get the value of your business in as little as five minutes.
When you’re ready to make your sale, contact our experienced team, who can guide you through the process every step of the way.