Contrary to widespread belief, Business Brokers are actually not just sales men or women who are simply flogging businesses. Because I am passionate about the industry I have decided to share over the coming weeks some insights as to what is a Business Broker and why it is a good idea to hire one to sell your business, what the good ones really do, what qualities they must possess and as your representative how important it is to find the right one.
Business Brokers are experts in their field who specialise in helping people to buy and sell their businesses successfully. They must use their knowledge, experience and negotiating skills when initiating the process, conducting negotiations throughout and at the completion of the sale. Business Brokers also come equipped with invaluable local market knowledge and can protect you from making very common and very costly mistakes.
Most business owners have never sold a business before, are unprepared, and underestimate what is involved. On the other hand most buyers also never have bought a business before and are also unprepared and underestimate what is involved in the buying process. Therefore this means that the role of the Business Broker becomes one of educator, educating both sellers and buyers in how to sell the right way, for the best possible price with the best terms for the best outcomes.
A Business Broker educates you in:
- how to best prepare your business for sale
- what you need to do to optimise the value of your business
- what to do to ensure the business is financeable so that potential buyers are in a better position when sourcing finance
- what you need to do to present your business in such a light that it attracts the greatest number of qualified buyers.
A good Business Broker works with the business owner to prepare a complete set of documents that accurately and transparently represents the business that is for sale.
If you would like to find out more or have an obligation free consultation please contact me on 0419 513 979 or email me on doug@buyorsell.business
