Raleigh Business Brokers – Sell a Business Yourself?
Raleigh Business Brokers – Sell a Business Yourself?
Many business owners are hesitant to hire a professional business broker to sell their business because the owner does not want to pay a commission. The problem with this thought process is that the owner will often unknowingly leave a substantial amount of money at the closing table by accepting a Sale Price that is substantially less than the price a professional business broker would have obtained, net of the business broker’s commission.
When a business owner makes the decision to sell a business, he or she is taking a giant step that involves the emotions as well as the marketplace, each with its own set of complexities. Those sellers who are tempted to undertake the transaction on their own should understand both the process and the emotional environment that this process is set against. The steps outlined below are just some of the items for a successful sale.
While these might seem daunting to the do-it-yourself owner, by engaging the help of a professional business broker, the seller can feel confident about what is often one of the major decisions of a lifetime.
1. Set the stage
What kind of impression will the business make on prospective buyers? The seller may be happy with a weathered sign (the rustic look) or weeds poking up through the pavement (the natural look), but the buyer might only think, “What a mess!” Equally problematic can be improvements planned by the seller that appeal to his or her sense of aesthetics but that will, in fact, do nothing to benefit the sale of a business. Instead of guessing what might make a difference and what might not, sellers would be wise to seek the advice of a business broker–a professional with experience in dealing regularly with buyers and with an eye experienced in properly setting the business scene.
2. Get the record(s) straight
Although outward appearance does count, what’s inside the books is even more important. Ultimately, a business will sell according to the numbers. The business broker can offer the seller invaluable assistance in the presentation of the financials.
3. Weigh price against value
All sellers naturally want to get the best possible price for their business. However, they also need to be realistic. To determine the best price, a business broker will use industry-tested pricing techniques that include ratios based on sales of similar businesses, as well as historical data on the type of business for sale.
4. Market professionally
Engaging the services of a professional business broker is the key to the successful marketing of a business. The business broker will prepare a marketing strategy and offer advice about essential marketing tools–everything from a business description to media advertising. Through their professional networks and access to data on prospective buyers, business brokers can get the word out about the business far more effectively than any owner could manage on an individual basis.
We have a strong backlog of buyers seeking all types of companies. Contact your Raleigh Business Brokers, TM Business Brokers to learn whether or not you have a sellable business. Do not make the mistake of relying on an adviser who does not sell companies for a living. You may be delaying the sale of your business for the wrong reasons.
Now may be your time. Contact the experienced professionals at TM Business Brokers Raleigh to confidentially discuss “your” situation today!