Benefits of a good Business Broker
What are the benefits of a good Business Broker?
Many buyers and sellers of businesses will use a business broker to assist with the business-for-sale transaction. In simple terms, business brokers act as middlemen between business buyers and sellers and handle most if not all the details to see a successful transaction.
One means by which business brokers assist in the buying process is by offering insight into valuing a business. Business brokers have extensive knowledge of what businesses are worth and ask a broad range of questions to derive a value that is accurate. Without a broker, it is tough for sellers to precisely place a realistic valuation on their business. Part of their business valuation process will help if the buyer needs to obtain an SBA loan.
Presenting the business for sale
Business brokers also provide help in presenting the business. They are adept at packaging and marketing a business to show it in its best light. Without a broker, a seller may not be able to market their business in a way that is attractive to buyers.
Business brokers also know how to attract buyers. In many cases, they have a database of buyers and send out business-for-sale alerts to their database whenever they have a new business listing.
Confidentiality and selling a business.
At the same time, they work in a confidential manner, keeping the sale of the business quiet so that competitors, employees, suppliers and others are not informed that the business is for sale.
If you’d like more information please feel free to get in touch with me for a quick consultation. We’ll discuss your particular business, what’s important to you and make a plan for those first few steps.
Reproduced with permission from the website of the International Business Brokers Association.