In the last segment we discussed the selling process that you can expect once you are ready to go to market. The importance of having a marketing strategy, clearly defined parameters for how to position your business, and negotiate with a prospective buyer. Having entered the market, it’s good to know what sort of a team to have and what to expect from them.
The Benefits of Professional Guidance
Engaging a Business Broker or Intermediary in the process of selling your business can be incredibly helpful. Professionals with experience in the sale and purchase of businesses bring a host of advantages to the table that can significantly ease the burden of selling, ensuring a smoother, more efficient process.
One of the primary benefits of using a Business Intermediary is their network and experience working with the other professionals you’ll rely on for advice and services. Think of your Intermediary as a connector and team lead to ensure you have a good team and it’s pulling in the right direction. The right advisors in banking, accounting, and legal are essential. These professions have specialties just like any other. You want a team that excels at closing business deals and guiding sellers through the process and into the next stage.
Your Intermediary will also help you to properly evaluate your business. There can be drastic differences between a formal accounting valuation, how a lender values your business, and what the market value is to prospective buyers. It is thus very important to not sell yourself short in undervaluing the business, or to miss a good deal by over valuing. A good business Broker will know how to put different opinions and advice from other professionals into context and accurately assess the worth of a business. Their experience allows them to provide a fair market valuation that reflects current trends and your business’s unique aspects.
Additionally, business brokers have access to a network of pre-qualified buyers. This means directly pitching your business to pre-qualified individuals or entities that have expressed interest in and have the means to purchase a business like yours. This increases the exposure your business will receive to supplement the marketing plan. This targeted approach increases the likelihood of a quicker sale at a desirable price.
Navigating the legal intricacies of selling a business can be daunting. Business brokers are familiar with the legal processes. With the aid of the rest of the team, they can guide you through the paperwork, due diligence, and final steps of the sale, working to ease communication and ensure the plan is followed, making the experience as hassle-free as possible.
To ensure your business sale reaches its optimal potential, consider the expertise of a Business broker. An ally who can focus on the realities of the market, the experience to guide you with, and the connections to bring the right advisors into the team. Discuss selling your business with High Point Business Brokers to see how we help handle the complexities and navigate the sale experience.
Co-Founder, Business Intermediary – Specializing in Business sales and Organizational Development Consulting.
As the founder of High Point Business Brokers, I am thrilled to combine my wealth of experience with a network of experts to benefit our clients. Early in my career I learned the value of a consultative approach, and that the greatest rewards are not financial, but in having a positive impact in people’s lives, careers, and businesses.
High Point Business Brokers exists to bring a long term consultative approach to business brokerage. We’re here to maximize your investment and to add far more value than a single transaction.
