Before you decide to sell your company, you owe it to yourself to call Transworld Business Advisors. There is no obligation, just a confidential conversation about how to sell your company and how much it is worth, now, and in the future!
A professional broker can make selling a business totally painless, but you’ll need to choose wisely to get the best possible deal.
Selling a business might be the biggest deal an entrepreneur will ever make, so getting a good valuation is vital.
Understandably, many entrepreneurs choose to use third parties to help them market and sell their business. But not all brokers are the same, so if you do choose to use one to help sell your business, you should do so with great care.
Are they really representing my interests?
Brokers will be the go-between for buyer and seller, helping to bring the two parties together. For entrepreneurs inexperienced in selling a business, this may be advantageous, with the broker's fees more than paying for themselves with a successful negotiation and a great sales price.
What else?
A broker can save you time.
Additionally, a good Business Broker will allow you to allocate more time to running your business and enjoying your private life. Forbes magazine ran an article in 2016 stating that 90% of the time, people failed to sell their businesses. It helps to have a professional working for you. Besides running your business, you probably have plenty of other things to do. So why not let a Business Broker do all the heavy lifting while you enjoy your time away from your business?
Valuing your Business.
Putting a value on a business is far more difficult and complex than valuing a house. Every business is different, with hundreds of variables that have an impact on the value. Business brokers have access to business transaction databases that can be used as guidelines or reference points. But the best way for a business owner to truly feel comfortable that he got the best deal is to have several financially viable parties bidding for his business, which is much more likely using the resources of a professional business broker.
Confidentiality.
A business broker will protect the identity of the company and contact only owner-approved buyers through a blind profile – a document describing the company without revealing its identity.
Marketing.
A business broker can help present your company in the best light to maximize the sale price. He or she has an understanding of the key values that buyers are looking for and can assist in identifying changes that can lead to a better selling price.
Negotiation experience
Why waste time haggling back-and-forth when you can have a business intermediary support you and represent the price you are looking for? Using a Business Broker can take the stress and the personal element out of the equation.
Many states require that a Business Broker maintain a real estate license in order to sell your business. Make sure your broker is properly licensed in your state. You can usually verify an agent by searching your state’s database. Make sure you choose a professional with experience and with your needs in mind.
Closing a Deal.
Since the business broker’s sole function is to sell the business, there’s a much better chance that a deal will close in less time. The faster the sale, the lower the risk of employee problems, customer defection, and predatory competition.
Transworld guarantees that our highly professional brokers will be able to offer you sound advice and insight into selling your business in your first meeting.
