Selling a business can take a lot of time and effort, so it is 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.

 

Hiring an experienced business broker has huge benefits, as they can help guide you through the complicated process of selling your business. The benefits of using a broker to sell your business include:

 

  • They 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. Business brokers can save you time by screening buyers and deciding 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. Further, the business owner can focus on running the business thereby reducing the risk of business erosion during the sale process.
  • They will have experience in marketing and advertising businesses for sale. A business broker can help present your business in the best light to maximize the sale price. He or she has an understanding of the key values that buyers are looking for and can assist in identifying changes that can lead to a better selling price.
  • They have the tools and resources to reach the largest possible base of buyers. Sometimes, but not always, they will already have a list of contacts who are looking to buy.
  • They can remain independent through the process and work efficiently towards selling your business without the emotional attachment that you may have.
  • Putting a value on a business is far more difficult and complex than valuing, for example, a house. Every business is different, with hundreds of variables that have an impact on the value. Business brokers have access to business transaction databases that can be used as guidelines or reference points.
  • Typically, business brokers have strong negotiation skills. Since the business broker’s sole function is to sell the business, there is a much better chance that a deal will be closed in less time. The faster the sale, the lower the risk of employee problems, customer defection and predatory competition.

 

When selling your business, you don’t want just any buyer, you want the best buyer. Even if you know your preferences or wants 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.

 

This article was written by Cameron Ryan of Boyd Ryan Business Sales & Consultants. Cameron’s full profile can be found at: http://www.boydryan.com.au/team-2/?u=18289

 

 

 

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