![]() Availability of seller finance and the terms hereof.There are several important aspects that must be agreed upon including, but not limited to the: A well-structured deal isn’t based on the asking price alone. ![]() This data will enable targeted marketing to reach specific buyers.ĭeal structuring is a science that combines excellent communication and negotiation skills as well as industry expertise. A good broker should have a buyer profile that includes key aspects such as average income, education and demographics. This is an important question to ask before appointing a broker to avoid entering discussions with buyers who are simply "browsing." Generally qualified buyers make inquiries for specific businesses and your broker will be able to match you to these buyers.īrokers must have confidentiality agreements in place and often credit checks are also conducted with prospective buyers, ensuring the highest level of discretion and confidentiality to protect your interests. As such, a good broker is meticulous about the way the business is marketed as well as the channels used to identify interested buyers.Īn active business broker will have a database of serious, qualified buyers. The most important reason for this is that if certain specifics about the business become common knowledge, the viability of the business sale could be severely impacted. The broker should aggressively market the business but with the strictest confidentiality. Your broker will undertake the marketing and advertising on your behalf, communicating salient information about the business to prospective buyers including lease, assets, stock levels, financial and sales data and staff details. This means investing in a good marketing strategy that will help you reach a qualified pool of potential buyers. ![]() However, to get the best asking price, you need to attract the best buyers. Selling your business is arguably one of the most stressful things you'll do as an entrepreneur, and if you've made the decision to sell, you want a seamless, expedited sale that gets you a fair asking price. When selling a business, the value of professional marketing cannot be overstated. Present Your Business Professionally And Confidentially Expert brokers understand the economic climate, buyer behaviors and trends and are equipped to offer transparent and honest valuations that are aligned with your sale objectives.ģ. Your broker will provide a fair, market-related valuation that will prevent prospective buyers from trying to whittle down your asking price with low-ball offers that won’t result in you deriving maximum value. This strategic knowledge helps to set KPIs that can assist you to continue to assess performance and make informed decisions even while the business is on the market. Experienced brokers have the ability to identify current or potential issues in your business that you can address prior to placing it on the market.Īddressing these issues ensures that you don’t price the business too low and risk losing out on the years of hard work you’ve put in. Your broker can assist you to determine a fair market-related value for your business and offer advice on how to increase its value. Understanding what your business is really worth will help put a number to your endless hours of hard work and the investments you’ve made. Determine The True Value Of Your Business You've put in long hours, sweat and sometimes tears to grow your business, so don't settle for an inexperienced broker to sell it.Ģ. Understanding your business will ensure the broker can offer credible advice on what to expect during the sales process and ways to devise the marketing strategy. When you choose the right broker to sell your business, you’re not only getting advertising, you’re accessing expert assistance with a market-related valuation, a marketing plan and assistance with agreements and legal documentation.Īn experienced broker goes the extra mile to learn about their client's business and doesn’t immediately go for a sales offensive.
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