A Business Broker Can Make the Difference
Like most business owners, you probably think from time to time about selling your business – to retire, start or join another business, pursue other things on your “bucket list” or out of necessity. However, a recent survey of business owners found that over 80% either do not have an exit plan or have a vague plan that has not been documented or communicated.
Like any other major business decision, to effectively sell your company or professional practice takes thought and planning. What holds back most owners are that they are so busy running their businesses, and they do not know how to do it because they have not sold a business before. Fortunately, there are professionals whose job it is to provide hands-on help, working step by step through the process to a successful sale.
An experienced business broker starts by asking questions in confidence that determine the best timing and price at which your business can be sold. They work through a valuation, which reflects how your company relates to the current local market. Working together, you and the business broker mutually agree to a fair market sale price.
The next step is to plan for marketing your business by determining one or more likely buyer profiles to target. The broker will create both a generic information release to share with prospective buyers that does not contain confidential information or the name of the business. There will also be a proprietary information package to share in confidence with prescreened buyers. The broker will also create a marketing plan for positioning and advertising your business to the most likely buyer prospects.
What distinguishes the most successful business brokers is their ability to get the attention of these best buyer prospects. Achieving Your Goals When You Sell Your Business BY JEFF BACH A broker who has the reach of a substantial list of qualified buyers and a referral network has a great advantage for finding the right buyer to pay the price you want for your business. They will handle the screening process and discreetly introduce prospective buyers to your business in its most favorable light.
The broker will facilitate your negotiations with the buyer, assuring they understand your desired terms and conditions, assist them in preparing their offers and deliver directly to you all bona fide offers to buy your business. Finally, the broker organization will ensure that the closing requirements are addressed – working out contract contingencies, providing a neutral attorney to monitor the closing, produce all forms needed for completion of the sale and collect deposits.
Selling a business is a major financial step and can also be a major lifestyle change for the owner. You want to work with an experienced team as you take these important steps that will shape your future.
Jeff Bach is an established business broker at the Saint Louis Group, which for over 40 years has been by far the most successful business broker organization in this area. With access to their network of over 7,000 qualified buyers, Jeff offers the best opportunity to help you successfully sell your business. He only gets paid when you sell your business. Valuations are free and are the starting point to knowing when it is the right time to sell your business. Jeff can also help qualified buyers find and buy a business that meets their goals. You can contact Jeff for a free, confidential, no-obligation discussion about selling your business or buying a business at 314-941-8530, or by email at firstname.lastname@example.org.