Unlock the need to hire a business broker when selling your business in California.
You are now ready to sell your business in California. But who knows your business better than you do? Who can give a Buyer the most compelling argument for why they should buy your company over another one in your niche?
Besides, you can read a contract and even draw one up. It’s a part of being an entrepreneur, right? So, why do you need to hire an intermediary like a good business broker to sell your business in California? There are several reasons, all of which relate to you and the value of your time.
A Business Broker Lets You Focus
Whether you started with a couple of partners or have grown your business through your efforts, you are now at a point when you have capital in the bank, employees, regular customers, and substantial cash flow. Once you have reached this point, your business is ready to sell, and you may even have a grand exit plan.
However, selling your business is an enormous task. It involves an entirely different type of marketing with a unique focus. There will be hours of meetings and many offers, each with contracts to read and understand. Then, there is the complex process of readying your business for sale and managing the due diligence you and your Buyer must engage in.
Do you have the time to take away from your company to do all those things? The answer with most entrepreneurs is no, not at all. You must continue to run your company and keep it profitable even while you are trying to sell. Choosing the right business broker in California can handle those tasks in the background, allowing you to focus on what you do best: running your company. The latest statistics show that only 20% of businesses listed for sale sell successfully. Don’t be one of the 80% who fail.
A Business Broker is an Expert at Marketing Your Business
Let’s say that you are a fantastic marketer. You know your target audience, and your business has a high conversion rate on leads. Fabulous.
Selling your business in California requires you to shift gears entirely. You will have a different target audience, and establishing that will take hours of market research. When you hire a business broker, they do that research for you. They have probably sold similar businesses to yours and have experience reaching the right audience, those who are ready to purchase a company like yours, and can do so.
You don’t have the time to engage an entirely different market when trying to sell your business, and a business broker has expertise you likely don’t. Just as your clients hire you for your knowledge or use your product to meet their needs and wants, you should hire an expert when it comes time to sell your business.
A Business Broker Knows What Your Business is Worth
Many business owners make one of two errors when selling a business. Either they undervalue their business because they don’t know the market for companies like theirs, or they vastly overvalue their business and want to set a price that no reasonable Buyer would pay.
There are formulas and ways to value your business, and a business broker can help you understand them and set the right price for your business. A well-priced, successful business will sell quickly to the right Buyer at the right time. A business broker has the expertise to make that happen by establishing the actual value of your company.
Focus on What You Do Best
Ready to sell your business in California? Don’t slow the progress you have already made or take precious time away from your company to work on selling it. Instead, hire a professional business broker to do the work for you. They will help you value your business, market it to the right potential buyers, and enable you to focus on what you do best: running your business.
Do you have questions? Want more answers about what it means to sell your business and the steps involved in getting it ready for potential buyers to look at? Contact us at Rogerson Business Services today to learn how we can help you.
