Listing and selling a business with the best team is crucial. We understand that building your own business isn’t a walk in the park. It’s the fruit of all your efforts, time and money. So now that you’re planning to sell your business, you wouldn’t want to have just anybody to help you with it.
Who should you trust? It’s tricky but here’s what you should know.
Business buyers, accountants and their advisors can often be extremely negative and critical about the business. This can lead to:
- tactics implemented to offer a lower price
- criticisms that can be hurtful to the owner, and cause emotional stress
How do you effectively deal with this situation without reducing the value of your business? Listing and selling with the best team and the right team is the key. You need to have someone who understands the process very well, and who cares about what will happen during the negotiation process until the purchase is made, and even after the deal is closed.
Selling your business with a broker is crucial, but if you are listing and selling with the best team, they could help maximise your earning potential for the business you have worked hard for, rather than letting everything go down the drain.
You have to know the major benefits of using a broker.
10 Major Benefits of Selling Your Business With the Right Team
A broker can help you, the business owner, in so many ways. Here’s how our business brokers at DDDC can help you.
- Business brokers know qualified business buyers like individuals, other businesses, or private equity groups who are actively searching for a business to buy. Brokers can introduce you to the right people who are possibly interested in buying your business. More than that, business brokers do preliminary assessments and make sure that the buyer is ready and has the financial capacity to purchase your business.
- Business brokers are trained at assessing the market value of your business. With proper training and experience, brokers can help sellers ask for the right price for their business, and help buyers understand its overall value.
- Business brokers know how to sell a business. Buyers and sellers often do not understand the nitty-gritty of the buying/selling process, but brokers can help both parties to ensure a fair, profitable, and successful sale of a business.
- Business brokers protect confidentiality. Brokers will keep all details of a sale confidential. They will not allow your competitors, employers or customers to know that you are selling your business. Potential buyers must sign a Confidentiality Agreement and must be assessed first. Once it’s determined that they are qualified and are a serious buyer, only then shall important details of the business for sale be disclosed.
- Business brokers are skilled negotiators so they can help you get the best deal for your business. With their negotiation power, they could help sell your business as quickly as possible and at a fair market price.
- Business brokers have a list of businesses for sale. You can attract more potential buyers when you use a business broker. In some cases, buyers buy a different business than the one they initially enquired about. By offering them several businesses to choose from, brokers can expose your business to even more potential buyers.
- Business brokers can help reduce the risk of buyers failing to fulfil their financial obligations to you. They may request for potential buyers to disclose their financial situation, and screen those who are only qualified to reduce the risk of your business deal from falling short.
- Business brokers can provide financial assistance to buyers in order to buy your business. Although not all, some buyers will require some level of financial assistance to secure bank loans. If your business broker is willing to give this service, this further increases the possibility of buyers closing the deal with you.
- Business brokers make paperwork easy for you. They have a better understanding of the legalities in selling a business, so a business broker will provide and guide you with all the paperwork needed in selling your business.
- Business brokers are business owners themselves (or used to be one), so they know exactly that it can be hard letting go of your business. They are great to work with because their professional advice built through years of experience is ultimately priceless.
Listing and selling with the best team guarantees you with all the benefits of using a broker. Be keen on choosing the right one!
Most business owners underestimate the preoccupation and the time involved in selling a business. But the process is tedious. It involves several areas of expertise, and can be complex. They can be learned, but it takes so much of your time.
Through years of sales experience, The Brokerage Connection has discovered that:
- Buyers trust sales conducted through a broker more than those sold directly from the business owner. Why?
✔ The facts presented through Information Memorandums, Business Profiles and Due Diligence investigations give more confidence than those provided by an owner with a vested interest in the business.
✔ Buyers can be put off if the marketing focuses too much on the benefits and the day-to-day operations of their business.
Selling Your Business with DDDC’s Business Advisory Team
As business brokers who also run their own businesses, we truly understand the pain of selling your business. It’s just so complicated, and with just one wrong move, you could magnify your losses.
That is why selling a business requires experience and a deep understanding of the complex process involved in it.
DDDC’s Business Advisory Team is committed to helping business owners like you in selling your business. Our main goal is to represent you properly and professionally, and ensure that your business is being sold at a fair price — fair to you as the seller, and fair to your business buyer.
By using our Business Advisory Team, you have the time to do what you do best — focus on running your business well so you can maintain its value while the sales process is ongoing.
DDDC’s Business Advisory Team assures you of all benefits discussed above.
Related Topics:
Sources:
[1] Procision. Challenges to Selling a Business.
[2] BayState Business Brokers. The Benefits of Using Business Brokers.
[3] Neo Business Advisors. 8 Key Benefits a Business Broker brings to Selling a Small Business.