10 advantages to hire a Perfect Business Broker?

Many business owners who are considering the sale of their business wrestle with the idea of hiring a broker to market the business for sale. If you decide to hire an experienced agent, you will need to stay involved – a business broker should be viewed as a member of your team along with your attorney, accountant, mentor and financial advisor.

Here are ten key advantages of hiring a business broker to represent you and the sale of your company:

1 – CONFIDENTIALITY. A good business broker knows that, first, maintaining confidentiality is key. You will need to navigate the transaction process carefully and quietly – only disclosing the sale to others when necessary. A broker can market the business for sale in Florida without divulging the name until a qualified buyer is located. A broker can also advise about the proper time to deal with landlords, employees, suppliers and customers.

2 – NEGOTIATIONS. A good business broker has a long history of successful transactions and access to more information than you do. This allows good brokers to negotiate a higher sell price than you could do on your own – and more than cover their commissions.

3 – PACKAGING. Although you will provide the information, a good business broker knows how to put your business in its best light through a professionally prepared offering memorandum. A good business broker also knows what financial information (and in what format) a buyer will need to see before making an offer.

4 – FOCUS. A good business broker Network will sell your business while you keep busy running your business.

5 – VALUATION. A good business broker can estimate your business’s fair market value using a number of valuation methods. A good broker can also recommend possible deal structures to increase the salability of your firm.

6 – MILESTONES. A good business broker will manage the deal from contract to closing, including all milestones along the way. Without this effort, buyers tend to languish and time kills all deals.

7 – DOCUMENTATION. A good business broker has access to purchase agreement templates and commonly used forms that are necessary during the transaction.

8 – SCREENING. A good business broker will screen all prospective buyers by collecting a non-disclosure agreement, a resume and a financial statement. Buyers who are not capable, either by their finances or their background, should not receive confidential information about your business.

9 – COST. A good business broker will charge no upfront fees and will be paid a commission only at the time of closing.

10 – RELATIONSHIP. A good business broker knows it is important that the buyer and seller maintain a good working relationship since the seller will likely help transition the business after the sale. A good business broker can act as a buffer during stressful moments in the sale.