For Sale by Owner vs For Sale by Broker
You’re a business owner, and you’ve made the decision that you are ready to sell. You’ve successfully managed and marketed your business for years. You know your customers, products, suppliers and employees. You feel confident in your abilities, but does that qualify you to sell your business yourself? Should you consider hiring someone to sell it for you? And if you do, who? These questions, along with many others, can be answered when you consult with a professional business broker.
A professional business broker can be a vital asset to you and your business during a sale. Listed are the key areas that a broker can assist you in when selling your business.
As a business owner, you want the best possible price for your business. You have invested so much of your time, money and efforts into your business, and in return you would like to make a profit. However, priced too high and serious buyers won’t even consider making an offer. A business broker understands the market, and has access to recent sales statistics. With their valuation expertise, a brokers can assist you in pricing your business properly, and advise you on how to make it more attractive to potential buyers.
Marketing
You think your business is great, but will potential buyers agree? A business broker can advise you on preparing your business for sale, and bring more prospects to your business than you could ever do on your own. Unlike selling a car or a home, a business needs to undertake a multi-faceted marketing program to give it maximum exposure to potential buyers. By utilizing internet, social media, print ads, mailings, emails, and database marketing, a business broker is efficiently and effectively able to produce the amount of exposure of your business will need to sell.
Confidentiality
Just because you are ready to sell does not always mean you want to disclose your decision to your staff, customers, or suppliers. A broker can assist you in maintaining confidentiality of the possible sale from start to finish. Marketing, screening of prospects (separating the buyers from the lookers), and phasing the release of information can all be secured in confidentiality by a broker.
Negotiating
You have a qualified buyer. They have made an offer, but it is not the offer you were hoping for. Are you prepared to negotiate price, terms, or other key aspects of the sale? A business broker has both the knowledge and experience in negotiating these areas for you. From the early stages of offers and follow-ups, through the process of negotiating the contract to ensure a smooth transition, a broker takes on the role a business owner cannot efficiently do alone.
A business broker is simply a resource throughout the sale that is working for you. A broker can save you valuable time, as well as get you a better price for your business that you could on your own. For more information, contact one of the professional business brokers by calling 1-800-BIZ-BROKER or by visiting www.1800bizbroker.com