Selling your business with a Business Broker gets your business sold in less time, with less stress and for more money.
Understanding the sales process helps both the Seller and the Buyer. Each party will have responsibilities. With a Business Broker, these are clearly mapped out.
In Step 1, the Business Broker will identify, qualify and educate the Seller.
They will identify if the Seller is ready to sell, if their business is sellable and if the sellers expectations are realistic. The Business Broker will identify the goals and motivations for a sale. “Why are you selling?” is one of the most important questions and must have a reasonable and realistic answer.
The Business Broker will qualify the seller. Are the seller’s goals and motivations strong enough to make a sale happen?
And the Business Broker will educate the Seller. Not only on the process and what they will be required to do and at what step of the process but also on what the Buyer will be facing when seeking financing. Usually, a specific type of Buyer will be identified as the most likely to make the purchase. Understanding that type of Buyer and what they are seeking will help sell the business in less time.
These are the initial steps a Business Broker takes before accepting a listing.
We will discuss Preparing and signing the Engagement Agreement next week.
For more information on how Larkspur Business Brokers can get you to the close, call now to book your free consultation.