Hiring a broker may seem like a luxury only big business can afford, but having a good broker is the key to maximising your business’ sale price, or obtaining a business at the best value. Brokers have years of experience buying and selling businesses, are experts at managing due diligence, and have the skills and connections for identifying and connecting sellers with buyers.
Finding the best broker for your requirements is not that easy, however. To simplify the candidate search, here are some attributes you should look for:
Find a broker who is willing to tell you the bad news, even if a business is worth less than hoped. Many brokers want to impress and keep a client.
Be wary of the broker who says he can sell any business. Find a broker who specialises in selling businesses in your geographic market and price range. The broker who handles $500K deals might not be able to sell a $10M business, and vice versa.
The best brokers have good relationships with other brokers, lawyers, accountants and other professionals. They use their contacts to gain access to a larger group of buyers and to expedite the purchasing process.
Finding the right business broker streamlines the buying or selling process. Buyers are ensured of a good deal, closed in a structured manner. Sellers sell their business to a larger pool of buyers for the best value possible.
At Transworld Business Advisors, we have a proven track record from our pool of highly talented business brokers. We help sellers find and vet a buyer. We understand the sensitivities of selling a business and conduct the process confidentially. We enable buyers to easily transition into ownership, and sellers to find a client without having to put up a ‘for sale’ sign, worrying about their investors and employees.