Among business owners worldwide there seems to be a common theme when it comes to retiring or selling a business or company: I’ll just do it myself. Although you might feel that you are the most qualified person to sell your business since you do know your operation the best, be diligent and wise in your realization that selling a business is a very complicated transaction that is a lot more complicated that it appears.
Here are some reasons to use an experienced and proven business brokerage services when selling your business.
First, anonymity and confidentiality. Imagine trying to yield all the buyer calls while running your company. Running the business is what you do best. Let your hired expert to sort through and assess the multitudes of potential buyer calls that you will get.
Second, the law, accounting and taxes. Selling often requires several professionals and sadly some are good and some are not. Get the wrong accountant on your team and you will be paying far more in taxes that you should. An experienced business broker already has vetted out the right professionals and makes building your team easy by reducing the risk.
Third, the effective marketing material. Since you probably have never sold a business, you are likely not aware of how to prepare an effective marketing package and/or where to market your business. Experts in selling businesses do this on a daily basis and know exactly how to build a solid marketing package to secure the highest price.
Fourth, determining the right selling price. Determining the price of a business is based on many factors. Using a rule of thumb might seem like the right thing to do to value your business, but depending on your business it may cause the seller to severely overvalue or undervalue their business. Professional business brokerage services use proprietary databases and software that provide valuable information to determine the appropriate selling price in the current market.
Fifth, limited marketing. Although you might be savvy about marketing what your business does, marketing your business to a large enough buyers pool takes time and expertise. You may not have the ability or time to contact, screen and qualify a large group of prospects to find a qualified buyer.
Finally, limited time. Since you know how to best run your business, your time is truly best spent in running your business to show the best numbers possible to potential buyers. Taking time away from your business can, and does, reduce the selling price. Leveraging the time of professional business brokerage services allows you to get the most for your business.
In conclusion, using trained and experienced business brokerage professionals that are knowledgeable and skilled in business sales will make the sale of your business a pleasant experience and remove all of the commonly experienced business selling hurdles. For more information on how to sell your business go to Bottom Line Management, LLC at https://www.botline.com.
The experts at Bottom Line Management, LLC are skilled in business marketing, and can not only sell your business, but sell it fast with experienced targeted marketing.