How Can A Business Broker Benefit Your Business Sale?

It’s best to consult a business broker when the time comes that you decide to sell your business. A business sale is complicated and tiring. It may also involve processes that you’re not familiar with and you might unknowingly overlook.

Having your own stable and running business is not only an accomplishment but also a great investment. Money and time are not the only things you give, but also a lot of effort and determination. So naturally, you would always want the best for your business even during the time that you decide to exit from it. 

It’s best to consult a business broker when the time comes that you decide to sell your business. A business sale is complicated and tiring. It may also involve processes that you’re not familiar with and you might unknowingly overlook. 

Many business owners are familiar with business brokers; however, not many understand their work and how they can benefit you. 

So, let’s go deeper first on what a business broker is.

What is a business broker?

As a contributor in MidStreet, Pollone (2021)[1] stated that a business broker is a mediator who can assist you when selling your business, and also when you have a target business you want to buy. Most of them are individuals or companies that help small and medium enterprises with the process. The selling process of your business is long and tedious. The usual length is from six months to one year and sometimes even longer. Business brokers are there to work with you to make sure the sale is successful and complete. Working with them would let you save time and money, and also let you focus on other matters regarding your business.  The business sale process can finish smoothly and even faster with a business broker on your side.  Our team in DDDC Business Advisory offers expertise and vast knowledge in handling your business sale. Let us guide you through the process.

Why hiring a business broker can benefit you?

We’ve listed some of the reasons why you should hire a business broker when it comes to selling your business. 

  1. Experience
    Selling and buying businesses is the main work of a business broker. Most of them have a wide range of experiences that they use to find the perfect buyer and negotiate the best deal for your business. With their experiences, they have been exposed to different businesses and situations. Therefore, they can give you insights and guide you better on the valuation and selling process.
     
  2. Expertise
    You can’t just rely on your own when it comes to knowing the value of your business. What you believe is the worth of your business is not always what buyers are willing to pay for. 
    You should always remember thi, given that information comes from the expertise of business brokers. They understand the core of this industry. Brokers can give you a complete and certified valuation that buyers want to see.
    You can be sure that the information is verifiable as business brokers use data and reports of your financial status. The process is unbiased and will reflect the actual value of your business.

     

  3. Exposure
    The process of selling your business will be more straightforward if you already have a buyer. But most of the time, business owners will still need to look for potential buyers for their business. And, of course, finding a qualified and trusted buyer is not simple.
    With an experienced business broker, it would be easy to expose your business in the business market. They know the platforms and type of campaign to use for your business to find the ideal buyer.
  1. Time
    As the business sale process is complicated, it’s likely to consume a large amount of your time. Even before the transition process, you will need to invest time in advertising your business and listing qualified buyers. This will likely affect the time you use for other matters in your business.
    Business brokers take care of all the details involved in the selling process. This includes marketing your business, finding buyers, and managing documents. So, it will be less work and hassle on your side.

  2. Confidentiality
    A confidentiality agreement is signed when you work with a business broker. They understand the need to keep the process as discreet as possible. Most business owners want the deal to be completed first before going into public.
    Releasing information about the selling process can damage the value and reputation of your business. This can also cause panic with your employees and clients. Thus, business brokers may opt not to release your business information until the qualified buyer has signed a confidentiality agreement.

  3. Networks
    Experienced business brokers have built their networks over the years. They have acquired trusted and valuable connections that can help in selling your business. Business brokers have networks in finance, accountancy, and law whom they trust and can also assist in your selling process.
    Combine their experience, expertise, and networks, and indeed this will all work to your advantage.

  4. Negotiation
    It’s very important that negotiation is managed properly. Business brokers handle the communication between you and your potential buyer. Most buyers would prefer to work with brokers for clear communication and faster transactions.
    Brokers are skilled in terms of negotiation. They’re equipped with knowledge and strategy that can bring out the best deal and profit for you.


Hiring a business broker can make a huge difference in selling your business. Buyers and sellers may not be familiar with how the market works during the business sale. But an experienced business broker will provide you with the necessary knowledge to undergo the process.

So, take your time and do extensive research. Choose the broker that you’re most comfortable with and you know will bring the best for your business. Finding the right one isn’t easy, but it will help you in achieving your goals before you exit your business.

DDDC Business Advisory is here to support you in your business goals. Let’s work together in developing your business strategy and devising a successful exit plan.

Sources:

[1] Pollone, J. (2021, February 8). What is a Business Broker? And What Do They Charge?. MidStreet Mergers and Acquisitions.

[2] Liberto, D. (2021, July 6). Business Broker. Investopedia.

[3] Exit Advisory Group. (n.d). Selling Your Business? Here’s What a Broker Can Do To Help You.

[4] Acquiry. (2021, May 17). Pros and Cons of Hiring a Business Broker.

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