Benefits Of Engaging A Business Broker

AUTHOR

Bruce Coudrey

There is no doubt that a good business will sell if it is:

1. Properly priced

2. Full financials are provided

3. Business information and data is properly documented

4. Properly advertised and effectively marketed.

A qualified, experienced, business broker will provide the following services:

1.Appraisal of business value.

2.Assistance with planning for the sale of the business.

3.Production of advertising & marketing plan.

4.Identification of business attributes & selling points.

5.Identify and eliminate potential problems and obstacles.

6.Production of comprehensive Business Information Package.

7.Communicate activity levels and seek Sellers instructions regularly.

8.Confidential qualification of buyers.

9.Use of buyer database, of local, interstate, and overseas buyers.

10.Create demand for the business.

11.Find a buyer willing to pay the most for the business.

12.Assistance for buyers with finance, legal assistance, & more.

13.Negotiate a satisfactory price.

14.Preparation & assistance with Contract of Sale.

15.Assistance with transition process.

16.Satisfactory completion of transaction.

It is common that business owners trying to sell their business will get buyers to look at the business, but find it difficult to progress past that point. This is where the skill and expertise of a professional broker will come to the fore. A broker will be able to identify the right way forward for both buyer and seller, and create a win-win outcome for all. Many times business owners have had buyers come to them looking to buy their business, and the buyer has lost interest and drifted away. This is often caused because the business owner has “dumped” a load of information onto the potential buyer, and the buyer has gone away and found a reason not to buy the business using that information.  Professional business brokers know how to consider the psychology of the situation, and how much – or how little – information to provide to a buyer. Remember a business broker does not get paid until the transaction is completed. In any profession there are good and bad practitioners, but it’s like anything – You get what you pay for. Do some homework, don’t try to save a few dollars by paying a slightly lower commission, find a qualified broker who understands your business, ask them about their experience and allow them to use their expertise to create the best possible outcome for you.