What are the benefits of using a business broker to sell your business?
Selling a business can be a time-consuming and often frustrating process. What’s worse, business owners are often selling their business for far less than they should have. Hiring an experienced business broker has huge benefits, as they can help guide you through the complicated process of selling your business. Here are 6 reasons why you might consider using a Business Broker to help sell your business:
Reaching potential buyers. Business brokers have the tools and resources to reach the largest possible base of buyers. Business Brokers have many buyers on their database just waiting for the right business to come on the market.
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 guideline on current market value which will help you determine what the value of your business really is.
Marketing. A business broker can help present your business in its best possible light to maximise the sale price. Business brokers have a strong understanding of what buyers want to see and the key values that buyers place on a business and its value in the marketplace.
Maintaining Business Value. As mentioned earlier, selling a business can be very time-consuming to vendors with or without prior experience. A business broker can level the playing field for a vendor by taking the stress of negotiating away, so the vender can focus on running the business while the broker is working on the sale.
Closing. Since the business broker’s sole function is to sell the business, there’s a much better chance that a deal will be closed in less time. The faster the sale, the lower the risk for the vendors.
Confidentiality. A business broker will protect the identity of your business and only discuss your business details with buyers who have been qualified.
When selling your business, you don’t want just any buyer, you want the best buyer. A reputable business broker will help you organise your thoughts, review your priorities and understand what the market is saying. In the end, you’ll find yourself in a better position to negotiate and close the deal—without sacrificing your business goals!