Do I Need a Business Broker
Do I Need a Business Broker?
Selling a business can be a stressful and confusing experience. Much like selling your home, this has been a large investment of your money, time and hard work. You’ve decided to sell your business, for whatever reason and understanding how the process works and having a professional who can answer your questions can move the process along more quickly and smoothly, thereby reducing your level of stress.
What is a Business Broker?
Business brokers are the bridge that moves a business from one owner to the next. A business broker works as an intermediary between you, the seller, and potential buyers.
What Do Business Brokers Do?
Business Brokers are typically involved in the selling process from day one until closing, ensuring a smooth and painless process for both parties. Before the selling process begins a business broker’s job is to determine the most reasonable selling price for your business and create an outline of the business for potential buyers in order to gain interest. A business outline helps the business broker identify qualified buyers.
Business brokers screen potential buyers as well as work directly with attorneys and landowners in order to make the transition smooth for both buyer and seller. A business broker will help facilitate a due diligence investigation that includes financial, production and management audits of the business.
Just like a real estate agent, business brokers are paid on commission once the sale of the business has been closed. Typical commission ranges from 10-15 percent and is negotiable.
Should you use a broker when selling your business?
If you are an entrepreneur who has spent the majority of your time on your business, thinking about it, working at it and investing in it, you should consider hiring a business broker to handle the sale. Why? As the owner, your business is your baby and there is at least some degree of emotional connection to your business. That emotional connection can certainly cause you to make bad decisions when it comes to selling your baby. Understandable, right?
Business brokers have an advantage of not being emotionally attached to the business so they can more easily make hard decisions that are best for you and your goals.
Business brokers take a streamlined approach to selling a business so you can continue to focus on your normal business tasks while a broker takes care of the rest.
Additionally, brokers can offer financial services to potential buyers that you would be unable to offer as a small business owner.
Deciding to sell your small business is a big decision. Whether you planned to sell it in the future or the sale is necessary now, business brokers can make sure your business will be sold quickly and to a qualified buyer without much effort on your part.
Should you have more questions about what a business broker can do for you, visit: http://FloridaBizMLS.com. A Florida Business Broker can tell you even more about the process and how they can help!
Do you know what your business is really worth?
Most experienced sales professionals know that understanding the target market is of paramount importance in designing and executing an effective sales campaign.
If you don’t know the details, like personal characteristics, motivation, demographics and purchasing habits of your potential buyers, you won’t be able to connect with them, much less convince them of the value of your business.
We have that experience and we will get your business sold for what it is worth.