Selling your business may seem like a daunting task as there are many crucial factors to consider. The biggest factor would be getting the maximized price for your business and as little problems as possible. Business brokers have extensive experience in these types of sales and would be a good first step.
Business brokers who only represent you, the business owner, is important. The broker will have your best interests in mind. Check what kind of fees are involved and if it’s up-front as opposed to fees based on the sale price upon closing. These brokers have the contacts to market your business to many prospects, so paying the fees may be well worth it, than going it alone. There are pitfalls in finding the right place to advertise your business for a quick and fair priced sale. Much money can be wasted advertising in the wrong places. Brokers have done all this legwork already.
One of the biggest areas for caution when selling a business is qualifying the buyer. If you decide to sell your business on your own and a buyer approaches you, you have to determine if they have the means to actually buy your business. Wasting time with buyers who cannot close the sale means missed opportunities with qualified buyers. Part of business brokers responsibilities are to fully qualify all buyers before you are even involved with them. This saves valuable time and money.
An exit strategy when you are selling your business is an important component of the process. It is advisable to plan this well in advance. There are various exit strategies based on who you are selling to and what you would like to preserve. There are business transfers, selling to family members, preserving wealth within your company for when you sell, just to name a few. Business brokers can best advise you on what exit strategies you should use to maximize your sale price while minimizing costs.
Mergers and acquisitions teams at business brokers firms are trained to match buyers and sellers. Buyers need the skill set to make a business purchase successful. These teams are experts at the matching process for a quick sale. When you are selling your business on your own, you would have a tougher time doing so. Business brokers make this type of matching their expertise and they have databases of fully qualified and researched buyers now at the ready.
For additional information or to contact us click on South Florida Business Broker
Cooper City Office
10620 Griffin Rd B-105,
Cooper City, Fl 33328
4720 NW Boca Raton Blvd,
(NW 2nd Ave) D-103
Boca Raton, Fl 33431