10 Essential Things a Business Broker Does
- September 1, 2016
- Posted by: admin
- Category: Business plans, Finance & accounting
If you’re looking to sell your business, there are a lot of factors you need to consider to make sure that the sale goes smoothly and beneficially for all parties involved. While some people try to sell their business themselves, a better idea is to partner with a Business Broker.
Business Brokers have a wide range of expertise in the tasks most important to selling a business and helping make the process much easier for you. Read on to learn 10 things a Business Broker does, and why you need to partner with one for your business sale.
- Sharpen Your Goals
The first, most important step in selling your business is constructing a list of your goals and expectations about the process. By consulting with a Business Broker, you will be able to sharpen and clarify your goals to make sure you get exactly what you need out of the selling process.
- Offer Guidance on Any Purchase
Before you can sell your business, you need to set a realistic selling price that is likely to attract buyers. Business Brokers can perform a high-level business evaluation to help make sure that you put the right price on your business that will lead to a sale.
- Re-position the Company
An important aspect of making sure your business is attractive to buyers is presenting it in a positive light, which is another area of expertise of a Business Broker. Your Business Broker will examine your company’s history and re-frame it in a way that is likely to entice qualified buyers.
- Attract Buyers with Marketing Materials
Reaching out to buyers is a matter of having the right marketing materials, particularly those that target the most competitive selling markets. A Business Broker is knowledgeable in the best methods for sharing your business with potential buyers.
- Generate Interest in Competitive Markets
In addition to utilizing traditional marketing methods, good Business Brokers have a network of buyers and investors that will be notified of the opportunity to purchase your business.
- Manage Informational Flow
The main task of a Business Broker should be to facilitate a business purchase by managing the flow of information. A Business Broker will serve as the primary point of contact for everyone involved in the business sale transaction, including the buyer, seller, and their respective advisors such as CPAs, attorneys, and bankers.
- Serve as an Intermediary
Business sales are often fraught with emotion. A good Business Broker will serve as an intermediary between a buyer and seller in order to minimize emotional disputes that can often sink a sale.
- Coordination Services
A Business Broker will be able to direct everyone involved in the sale of your company, managing all of the tasks and team members necessary to complete the transaction.
- Maintain the Momentum of Your Sale
Primary in navigating the purchase of a business is maintaining the momentum of the sale. Experienced Business Brokers can help you avoid common road blocks that prevent the sale from happening.
- Offer Useful Advice
More than anything else, your Business Broker will serve as a guide through the process of selling your business, both offering you needed advice and listening to any questions or concerns you might have about the process.
Contact a Business Broker Who Can Help You
If you’ve decided to sell your business, then you need to work with an experienced Business Broker like Jamie Schwartz. Jamie has a wide range of experience in areas such as exit planning and commercial property leasing. She can also help you with business valuation, acquisitions and sales. Contact her today to learn more.