Selling your business is a long and tedious process. It consumes a lot of your time and distracts you from the day to day operation of your business. As a business owner, your focus should be on maintaining or increasing the value of your business. An experienced business broker can help you get the maximum value of your business while you focus on the operations of your business.
Don’t Do It Alone
One issue that arises if an owner tries to sell their own business is they lose the confidentiality aspect of the sale. Employees, customers, suppliers and bankers all get nervous if they know the business they work for is for sale. Competitors also look to make a kill when they see a fellow competitor is for sale. Using a business broker will protect the identity of the company and contact buyers using a blind profile – a document describing the company without revealing its identity.
Business brokers also develop a specific marketing package suited for your company. They have an understanding of the key values that buyers look for and can assist in identifying changes that lead to a better selling price. Business brokers the use this marketing package and can reach the largest possible base of buyers. These buyers are usually screened to make sure they have the skills and financial capabilities to take over your business.
Reduce Your Risk
A business brokers sole function is to close the deal. Using a business broker will lead to a much quicker sales process. A quick transaction leads to less risks such as; employee problems, customer defection, and predatory competition. Using the services of an experienced, business broker allows you to focus on running your business. This will reduce the risk of business erosion during the sale process.
A sale facilitated by a business broker helps maximize sales proceeds by involving a large universe of buyers in a confidential, competitive bidding process.