Need to Hire a Business Broker?
18 Reasons Why You Absolutely Need To
Hire A Business Broker
The most effective way to buy or sell a business is to hire a business broker. Without a doubt you’ll only want to hire the best surgeon to perform your surgery, a trusted CPA to file your taxes, and a reputable attorney to handle your legal matters. A business broker is an expert in brokering and managing all aspects of a business transaction. Here’s why you should hire one for your next business transaction:
1. Getting The Best Price For Your Business
Unfortunately, Most Business Owners Who Decide To Sell A Business Themselves End Up Selling For Less Than The Fair Market Value Because They Don’t Know How To Properly Price Their Business. In Other Cases, Some Business Owners Will Value Their Business Too High And They Will Not Be Able To Sell Their Business. A Professional Business Broker, On The Other Hand, Can Give You An Objective Perspective Based On Comprehensive Business Analysis And Evaluation.
2. Confidentiality!! Privacy!! Discretion!!
Confidentiality Matters More Than Anything When You Are Looking To Sell. A Business Broker Has Access To Confidential Marketing Tools That Will Disclose The Fact That You Are Selling Your Business Only To Very Specific, Vetted Potential Buyers That Completed A Strict Confidentiality Agreement. If The General Public Were To Know That You Are Selling Your Business, It Could Negatively Influence Your Vendors, Employees Or Customers To Leave You And Pull Them Towards Your Competitors. This Can Result In Declining Sales And Thereby A Declining Business Value.
3. You Can Focus On Taking Care Of Business
In Order To Get Top Dollar For Your Business, You Need To Be Focused On Running It At Its Peak Performance. Therefore, It Is Best To Hire A Business Broker To Deal With The Time-Consuming And Complicated Paperwork Of The Transaction, Who Can Meet Everyone’s Demands In A Timely Manner (Managing The Business At Its Peak Not Only Assures You Get The Best Price, But Also Does Not Affect Profit, Or The Employees And Vendors).
4. Business Brokers Know How To Market Successfully
Confidentiality Matters More Than Anything When You Are Looking To Sell. A Business Broker Has Access To Confidential Marketing Tools That Will Disclose The Fact That You Are Selling Your Business Only To Very Specific, Vetted Potential Buyers That Completed A Strict Confidentiality Agreement. If The General Public Were To Know That You Are Selling Your Business, It Could Negatively Influence Your Vendors, Employees Or Customers To Leave You And Pull Them Towards Your Competitors. This Can Result In Declining Sales And Thereby A Declining Business Value.
5. Brokers Have An Extensive Database Of Interested Buyers
The Way Buyers Search For Businesses Is Through Contacting Business Brokers. The Business Brokers In Turn Collect Their Information Into A Database So They Can Make Sure To Connect Them With The Right Businesses. A Business Buyer Is Usually Not Rushed By Time And Will Wait For The Right Opportunity To Come Along. The Business Broker Can Market Directly To Their Investment Needs.
6. The Paperwork Is Tremendous
In Order To Sell A Business Many Documents Need To Be Gathered And Coordinated. Evaluating The Business, Closing The Deal, And Communicating Between Buyers And Sellers All Entail A Great Amount Of Time And Paperwork. A Professional Business Broker Will Take Care Of That For You.
7. Hiring A Broker Increases Your Chances To Sell
As Many As 60% Of Sales Are Never Actually Completed. Anyone Could Get A Sales Contract But Getting To The Closing Table Is A Whole Other Beast. Regular Complications Can Cause Business Buyers Not To Pull Through. Some Of These Problem Areas Can Be Financing Or Appraisals, But Whatever The Issue May Be A Professional Business Broker Will Be Able To Uncomplicate Them And Help You Become One Of The Lucky Sellers.
8. A Bidding Environment
The Price Of An Asset Goes Up Immediately When There Is Competition Over It. Since Business Brokers Are Experts In Evaluating Businesses, They Can Inform You When It Is Worth Waiting It Out And When To Settle. Their Connections Can Encourage A Bidding Environment Between Buyers That Can Increase The Price Of Your Business.
9. Broker Buffer
Dealing With A Buyer Directly Can Be Devastating To The Business Transaction. A Business Broker Can Function As A Great Intermediary Who Will Teach You Negotiation Tactics That Can Get You The Best Deal Possible. The Broker Can Work With Both Sides In An Objective Way And Make Sure To Stay On Top Of The Seller And Buyer Needs.
10. Finalizing Finance Agreements
With Sale Transactions Being In The Thousands If Not Millions, Some Buyers Need To Obtain Financial Assistance In Order To Complete The Sale. But Getting Financing Is Not A Simple Task. On Top Of Dealing With The Bank And Evaluating What The Buyer Can Handle, There Are Loads Of Paperwork That Need To Be Filled Out. Financing Of Course Can Make Or Break A Deal, So It Is Important To Take Care Of It Properly.
11. Making The Complicated Simple
A Seller Can Rely On The Business Broker’s Experience To Help Him/Her Understand All The Details Of The Business Sale.
Aside From Clarifying And Answering Any Questions You May Have, The Business Broker Can Give You Valuable And Actionable Tips To Increase The Value Of Your Business And How Fast It Can Be Sold.
Whether It Is Contractual Obligations Or Payout Details Your Business Broker Is There To Help You Understand Them.
Aside From Clarifying And Answering Any Questions You May Have, The Business Broker Can Give You Valuable And Actionable Tips To Increase The Value Of Your Business And How Fast It Can Be Sold.
Whether It Is Contractual Obligations Or Payout Details Your Business Broker Is There To Help You Understand Them.
12. Save Money On Advertisements
Advertising Is Expensive And Upon The Initial Investment You Cannot Be Sure If It Will Pay Off.
Business Brokers Know How To Successfully Market The Sale Of Your Business. When Your Business Broker Handles The Marketing,
There Is NO UPFRONT FEE And The Broker Will Advance The Cost Of It Completely.
The Compensation Of This Investment Is Included In The Commission Contingent Upon The Sale Or However The Agreement Has Been Set UpA.
Business Brokers Know How To Successfully Market The Sale Of Your Business. When Your Business Broker Handles The Marketing,
There Is NO UPFRONT FEE And The Broker Will Advance The Cost Of It Completely.
The Compensation Of This Investment Is Included In The Commission Contingent Upon The Sale Or However The Agreement Has Been Set UpA.
13. Coaching For Buyers And Sellers
As Part Of The Role Of The Business Intermediary, The Business Broker Will Coach The Buyer And The Seller And Help Each Understand Any Questions And Concerns They May Have.
Questions Always Come Up; A Good Broker Will Make Sure They Will All Be Asked And Answered Right Away.
Questions Always Come Up; A Good Broker Will Make Sure They Will All Be Asked And Answered Right Away.
14. Resurrecting A Deal
Deals Can Die Multiple Times Before The Closing. Among The Complicated Details There Can Be Unforeseen Issues That Can Threaten The Deal.
A Professional Business Broker Can Make Sure To Save The Sale By Solving The Problems, Whatever They May Be.
That Is One Of The Reasons Why The Closing Rate Is Higher With A Business Broker.
A Professional Business Broker Can Make Sure To Save The Sale By Solving The Problems, Whatever They May Be.
That Is One Of The Reasons Why The Closing Rate Is Higher With A Business Broker.
15. A Network Of Professional Advisors
Business Brokers Deal With CPAs, Lawyers, Bankers And Other Professionals On A Regular Basis.
As A Seller You Can Benefit From A Business Broker’s Expertise And His Already Established Relationships.
So Even If You Need Expert Advice And Don’t Know Where To Turn To, Your Business Broker Will Be Able To Assist You.
As A Seller You Can Benefit From A Business Broker’s Expertise And His Already Established Relationships.
So Even If You Need Expert Advice And Don’t Know Where To Turn To, Your Business Broker Will Be Able To Assist You.
16. Brokers Understand The Local Marketplace
Knowing The Trends Of The Industry And The Local Marketplace Can Be Vital To Selling The Business Quickly.
The Business Broker Can Use Specific Tools To Assess The Value Of The Business And See How Well Similar Companies Have Sold In The Area.
The Business Broker Can Use Specific Tools To Assess The Value Of The Business And See How Well Similar Companies Have Sold In The Area.
17. Showcasing The Seller’s Business
A Business Sells Best If The Seller Can Fully Focus On Running The Business While The Business Broker Works Hard To Market And Showcase The Company To Potential Buyers.
The Business Broker Can Use His Expert Knowledge To Prepare Your Office So That It Can Look Its Best When A Buyer Comes To Visit.
The Business Broker Can Use His Expert Knowledge To Prepare Your Office So That It Can Look Its Best When A Buyer Comes To Visit.
18. Selling Faster
Hiring A Broker Makes Your Sale Go Imminently Faster.
Not Only Will You Have Delegated A Professional With Years Of Experience In The Field To Take Care Of All The Time-Consuming Paperwork So You Can Focus On Running Your Business, But You Will Also Have Him Assist You To Work Through The Entire Transaction At A Much Faster Pace Than You Could Yourself.
Not Only Will You Have Delegated A Professional With Years Of Experience In The Field To Take Care Of All The Time-Consuming Paperwork So You Can Focus On Running Your Business, But You Will Also Have Him Assist You To Work Through The Entire Transaction At A Much Faster Pace Than You Could Yourself.
Do not hesitate. Make your sale easy by hiring a business broker today!
Hire a Business Broker to Reduce Stress and Avoid Costly Mistakes!
Selling or buying a business is no small transaction, but never too big for a business broker to manage.
A business broker’s reputation and experience can take the stress off your shoulders and ease you through this process with peace of mind, confidence, and satisfaction.