Selling a business can be a complex process, particularly if yours is only a small concern. Quite apart from estimating the value of your various assets and sorting out the many and complex legal technicalities, there may be the fear of being bullied by bigger buyers. Fear not. If you are looking at putting your business up for sale, you may do best to approach a business broker to do the hard work for you.
Business brokers offer a full service to those selling a business. They will estimate the full value of your company and its assets, finding a price which will both find a buyer and give you a suitable return on all the hard work you have put in. They will then find you that buyer, either through advertising or researching and approaching parties who may be interested. For example, if you are looking to sell a local flower delivery company, they may look for larger businesses with a history of buying similar concerns but who are not currently operating in your area.
It’s a surprising but true fact that most business owners have no idea how much the company they are running is actually worth. Of course, they will (hopefully) have a keen eye on the incomings and outgoings, and have a fair idea whether the business is turning a profit or not. When it comes to selling the business, on the other hand… well, it’s a completely different kettle of fish. How many of us could accurately evaluate the worth of all the assets held by our company? Business brokers offer this service for you.
Handing over the sale of your business to someone else can be a scary prospect, not least because it means handing across a lot of information. Fear not; business brokers offer complete confidentiality. They deal with businesses like yours every day, so have established systems in place for dealing with privileged and sensitive information.
Advertising is often the most expensive part of selling a business. Business brokers will handle it all for you. This includes drawing up and placing the ads, as well as putting together advertising material such as pamphlets.
A business broker is also singularly dedicated to the sale of your business. You have a thousand other concerns and even if someone is showing an interest, you may not have the time to answer their questions or schedule or meeting. Again, business brokers take that pressure off your hands.
Perhaps most importantly, business brokers know the market. They spend all day, every day buying and selling businesses, so they know what it is businesses are looking for and how to provide it. They know what sort of people will be interested in the potential your business offers.
If you are looking to sell a business, don’t let the work put you off. There are dedicated business brokers available who can take it all off your hands.
