Why Not Sell A Business Yourself?
The owner of a business is usually an intelligent negotiator
, so why not just sell their business without a broker? After all, the fee can be saved. How difficult can it really be? Isn't selling a business just photocopying financial statements and waiting for an offer? Can't the company lawyer or CPA just take care of it?The answer is yes - the business owner can and often does complete the sale of the business without a broker. But you've spent years building and growing your business and you shouldn't trust just anyone to help you sell it. Just like running a successful business, it takes practice and experience to sell a business. That's why it is best left to the people who know the in's and out's of the process.
Business brokers act as intermediaries between the buyer and seller. Their job is to bring the two parties together to assist them in developing and negotiating mutually beneficial agreements. Experienced brokers have access to potential buyers and easily know how to find them, so the seller won't have to spend their time and effort looking for a buyer. With their expertise and professional advice, a business broker is on your side to ensure you will get the most out of selling
your business.
The goal of selling a business is not just to complete the sale; the real goal is to complete the sale with the best possible overall transaction. This means not only maximizing the after tax cash, but also maximizing the "extras" such as deferred compensation, non-compete agreement, carried interest in the company going forward, and post-sale employment agreements. As a company's balance sheet changes daily, these fluctuations during the time of negotiations need to be included. In addition, a broker will know what information is normal to provide and in what format. A good business broker is aware of all the enhancements and "add-backs", and will have a positive effect on your overall transaction.
As the owner will only be selling his or her business once, it is simply practical to have someone driving the transaction that has many years of experience. Instead of learning as you go, and possibly making mistakes, let a professional help you sell your business to get the most out of the transaction.
Business brokers deal with the issues and negotiations of selling a business on a daily basis, and have spent years understanding the process. Selling a business can be a time-consuming and very intimidating process, but with a business broker, it doesn't have to be.
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