If the time has come to sell your company, a business you have run successfully for a number of years, why can you not sell it successfully as well?

Each To Their Own

The old saying – each to their own – is very true in this scenario.  You must be good at what you do to have made your business successful, and business brokers are good at what they do, selling businesses.  After all, you would not expect your hairdresser to have the expertise to rewire your house, so why would you expect to have the expertise to be able to sell your own business.

Sound Professional Advice

Sound professional advice is the first thing you can expect from the broker you choose, hands on experience that will guide you through every step of the process, making sure that both sides are happy with the deal.

Finding The Right Buyer

The broker will have all the necessary tools to market your business to a much wider audience than you could reach yourself, they may even have lists of people waiting to buy businesses.  They will know which market sector will find your business the most attractive, and have connections they have built up over time, which puts them at a big advantage when it comes to selling your business.  Business News discusses how good brokers are at finding a buyer, and how they will be able to achieve this much quicker than you could yourself.

Create Interest

The best position for you to be in when selling your business is to have more than one buyer interested in purchasing it.  Competition to buy will create a better price and possibly a quicker sale.  The broker is far more likely to be able to do this than you are.  Hornblower have useful tips for preparing to sell your business, and also talk about the importance of using a broker.

Confidentiality

Nothing can undermine the security of your business quicker than your customers finding out you are selling, they may start to look elsewhere for your products or services.  It can also be very unsettling for your staff, worried about their job security under a new owner.  Your business will start to suffer at a time when you want it to be showing its best, but advertising yourself will let everyone know your plans.   Brokers will advertise it in confidence, letting people know all about it before telling them which business it is, only passing on that information when they are certain they are not dealing with a time waster.  At Acuity they appreciate the importance of discretion and confidentiality at all times, as well as giving lots of other good sound advice.

Valuations

Valuing a business is a fine art, not something everyone can do, and certainly something you need an expert for.  Many people are unrealistic about how much their business is worth and that just deters buyers from even considering it.

Every business is unique; there are hundreds of variables, and it’s much harder to value a business than a house, or an antique.  The broker will have access to business transaction databases and industry databases, and the experience of selling similar businesses and knowing what sort of price they fetched. At 4BN they point out the importance of a correct valuation, and how a broker is the right person to do this for you.

Vetting Prospective Purchasers

No matter what you are selling, there will always be people who want to look but cannot afford it.  Before a broker lets you waste any time with someone, they will look into their credibility and make sure they are genuine buyers.

Negotiations

Any buyer will always try to pay less than the asking price, and in this instance the services of a broker are invaluable.  Negotiations can be long and tedious, but you need someone not only to get the best sale price for you, but also to get the best terms for your exit from the business.

Closing The Deal

This can be the hardest part of any business sale.  The broker will act as a buffer between the seller and buyer, making sure there are no last minute hitches, and if they do occur, they are dealt with and do not cost you the sale.

Common Sense

Taking all the information into account, it is common sense to use a business broker for the sale of your business.  A fair price from a genuine buyer with as little hassle as possible, what more could you ask.