28 Dec Why use a Business Broker to find the right buyer?
Building a business take time, focus, and dedication. Selling a business often demands the same requirements. So when the time comes to say good-bye, using a business broker can make the process smooth and painless. Before we look at the reasons for hiring a broker, let’s clarify what they do: a business broker is like a real estate agent who works with different platforms on a more complicated product. They are there to assist in the complexities of buying or selling a business. In this article, we are going to investigate reasons to hire a broker when a client is preparing or ready to sell their business.
Qualified Buyers Are Key
One of the most important things a business broker does is qualify potential buyers. A broker screens the pool of possible contenders, which is often overwhelming. The first step is to evaluate if the potential buyer has the means to carry through with the purchase, and still have enough left over for working capital. But it is not just a question of money. A broker may choose to find out how long the buyer has been in the market. If a potential buyer has been looking for a long time, it could be a red flag. They may not be ready or be clinging onto unrealistic expectations. In the end, the broker will narrow down the list and figure out who the serious buyers are.
But There’s More…
For a small or medium sized business, sometimes the factors that lead to a qualified buyer become more personal and specialized. In other words, the seller may want more than just money. A common request by the seller is that the buyer has the training and knowledge required to take over the business competently. For example, a small bakery may want to make sure that the owner is a trained baker. This could be for peace of mind or to protect those left behind. But a broker takes into account all the clients specific and individual requirements before preparing to facilitate the sale ahead.
Cover your Assets
Like any legal transaction, selling a business comes with a lot of paperwork. Brokers have the experience to guide you through the complicated and often lengthy process. They also have a network of professionals who may be needed along the way, such as specialized lawyers and accountants. In the end, it will leave the client confident that they received the best terms possible in the negotiation while completing all the necessary documents to make the sale a painless transition. Clients will be left with the peace of mind. What could be better than that?
Now is the Time
Before you put your company up for sale, talk to a business broker. Selling a business in today’s market is tricky—every advantage helps. A business broker can give you a leg up and minimize the stress of the exchange. They specialize in getting the best deal for their clients. You can relax knowing that your needs are being handled by a professional who is working for you. Now is the time to get your focus back on work to ensure what you are selling is ripe for the picking.
At A R Business Brokers, we have experts who can help you prepare your business for sale in the GTA. Our team will conduct a proper evaluation to show you the value of your current business. If you are interested in buying or selling a business contact A R Business Brokers today to get started. Visit the business new listings today at www.aldrin.ca