Why Use a Business Broker?
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Published by TOP4 Team
Selling a business can be a complicated and lengthy process, so it's a good idea to get professional help. Business brokers are experts in helping their clients to sell businesses and act as intermediaries between buyers and sellers in the sale process.
There are many benefits to hiring an experienced business broker, as oppose to, say, a real estate agent or going it alone. Here are some of the perks:
• Brokers will protect the identity of the business and provide information to only pre-qualified buyers who have completed a confidentiality agreement. Business brokers feel confident and comfortable with requesting the disclosure of a buyer's financials and are well placed to make decisions about them. They can also save you time by screening buyers and decide who is and isn't serious.
• The business owner can maintain a focus on running the business while a broker is working on the sale, thereby avoiding the risk of deteriorating the prospects of the enterprise during the sale process.
• An experienced business broker will have expert skills in marketing and advertising businesses for sale. They will present your business in the best light to maximise the asking price. He or she will have an understanding of the key values that buyers are looking for and can assist in identifying changes that can lead to a better financial outcome.
• Business brokers have the tools and resources to reach the largest possible base of buyers. They will usually have a list of contacts who are looking to buy.
• A broker will remain dispassionate throughout the process and work efficiently towards selling your business without the emotional attachment that you may have, which could lead to bad decisions.
When selling your business, you don’t want just any buyer, you want the best buyer. Even if you know what you want from a business sale, you may not get everything you want when making a deal. A reputable business broker or intermediary will be sure that the right questions are asked to 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 goals.
Consult Finn Business Sales today, if you need some help in buying and selling businesses.