If you’re thinking of selling your business, you’ve probably already heard that the fastest way to get top dollar is through a Business Broker.
Before you dismiss this as more of the same old business advice, consider this:
1: Finding the right buyer
Selling Privately
When you’re looking to sell your business, finding a buyer can be one of the most stressful parts of the process. You have to hope that someone is willing to take on your business and its risks and that they’ll be able to afford it. On top of all that you’ll only have access to the buyers that your advert can reach. More often than not, companies and professionals looking to acquire businesses aren’t browsing through classifieds to find their next business. They’re working with professionals that bring good businesses to them. This is where Business Brokers come in.
Working with a Business Broker
Business Brokers have access to a wide range of potential buyers, including big corporations with plenty of cash on hand, and small businesses that may be looking to expand. They can also market your company to investors who are looking for a solid return on their investment by buying into an existing company that has been making money for years. Because they’re able to pinpoint the exact audience for your company, and because they work with multiple buyers at once, brokers can often reach more buyers get you a much higher price for your business.
2: Negotiations
Selling Privately
Negotiations can be tricky at the best of times! Selling privately means that you will need to be prepared to engage in fierce negotiations with multiple parties. Not only is this time consuming, it’s also an incredibly draining exercise that requires patience, tact and specific skills. This is where experience equals dollars!
Working with a Business Broker
Business Brokers are experienced professionals who know how to negotiate the best deal for both parties involved, even if it means turning down money on the table from one buyer in order to make sure you get the best possible offer from another one. They have experience in what to ask for and what sort of price points you should be aiming for. They have seen countless businesses in your industry go through this process, so they will know what’s reasonable for a well-established business. But more importantly, they have experience in dealing with buyers who are trying to get the best deal from you—and because they see this all day every day, they know how to protect you from feeling pressured into a bad deal.
So, if you’re ready to sell your business quickly, painlessly and for top dollar, don’t ever try to do it yourself—let a skilled Business Broker do it for you! We’ll guide you through the process, protect you from any unpleasant surprises, and make sure you end up with the best possible deal.
