When it comes to selling a business, there can be a lot of uncertainties. Are you making the right choice? Are you selling the business to the right person or entity? Are you placing the right value on your company?
According to the International Business Brokers Association (IBBA), hiring a business broker to help you navigate through these uncertainties is a good idea. From having the proper experience to knowing how to reach potential buyers, a business broker can be a big help. Here’s why.
Continuity. Selling a company can be time consuming. With a business broker, owners can focus on running their business while their broker focuses on selling it.
Confidentiality. Business brokers can protect the identity of your business and will only contact owner-approved buyers through a blind profile.
Marketing. Business brokers have a pulse on the values that buyers are looking for, which means they’re able to help present your company in the best light possible in order to maximize the sale price.
Value. Business brokers can utilize a variety of business transaction databases to accurately put a value on your company. These databases use guidelines to help align the hundreds of variables that can have an impact on the value.
Experience. Experienced business brokers have a wealth of knowledge from acquiring multiple sales, while most company owners may not have any experience. Having that experience can help the process go much more smoothly.
Making the Sale. It all comes down to selling your business. Because a business broker’s main goal is to do just that, chances are a deal will be closed in less time than if you did it on your own. The faster the sale, the less risks there will be with employee or customer concerns.
Questions? Let 323 Lifeworks know. We are here for you.