What are the benefits of a good Business Broker?
Many buyers and sellers of businesses will use a business broker or intermediary 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, of the details to see a successful transaction.
Business intermediaries assist in the buying process by offering insight into valuing a business. Business brokers have extensive knowledge of what businesses are worth and ask various questions to derive an accurate value. Without a broker, it is tough for sellers to place a realistic valuation on their business precisely. Part of their business valuation process will help if the Buyer needs to obtain an SBA loan.
Presenting the business for sale
Intermediaries also help present the business. They are adept at packaging and marketing a company to show it in its best light. Without a broker, a Seller may not be able to present their business to the market in an attractive way to buyers.
Business intermediaries 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 confidentially, 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 contact me for a quick consultation. We’ll discuss your particular business and what’s important to you, and make a plan for the first few steps.
Reproduced with permission from the website of the International Business Brokers Association.
