IS A BROKER WORTH THE EXPENSE?
Hiring a business broker may seem complicated and an unnecessary expense to someone who is trying to save money and simplify the sale of their business. Why add more to your long list of to-dos when you have enough going on? Well, the thing is, a business broker is so much more than just an extra set of hands. Studies have shown that working with a broker increases your chances of selling your business more quickly, at a higher asking price, and to better-qualified buyers. There are plenty of reasons to hire a broker – let’s consider the top five reasons business brokers improve closing rates.
WHY BUSINESS BROKERS ADD VALUE
- Focus and Expertise
The expertise of a business broker is invaluable – but more than that, their focus. This is what they do for a living and nothing will throw them off their game; they’ve seen it all. Selling your business is their full-time job. This means they can give it the time and dedication needed to get the best deal from the best buyer. This is all done while you get to focus on YOUR full-time job – keeping your business running successfully.
- Professional Negotiation Skills
A broker has years and years of experience which makes them your greatest ally during negotiations. They know when a buyer is asking for too much or offering too little, removing the potential for confusion or wasted time. They will negotiate on your behalf, so you can stay focused on running your business.
- Business Presentation
Once again, experience means a business broker knows HOW to present your business to make it most attractive to potential buyers. The ability to highlight your strengths and minimize your weaknesses is a crucial part of the selling process. This is invaluable advice if you want to get the best deal possible.
- Network of Buyers
Experienced business brokers, such as the team at Transworld Business Advisors, has a full network of potential buyers organized by industry and level of a potential investment. This simplifies your selling process, as you will need to do less to find interested parties for your business. On top of that, this encourages a higher closing rate, as you will receive multiple offers you can counter as needed.
- Invested in YOUR Success
Their job is to help sell your business, so they are fully invested in your success. Your business broker is both your biggest cheerleader and advocate. Without a doubt, they want to ensure your sale goes through and you get the most you can from it.
Convinced yet? Contact the team at Transworld Business Advisors today to chat about your business and what we can do to help you sell it. We’re ready to help you with the preparation of the sale of your company to the actual closing of the sale of your business, including all the vetting and preparation needed along the journey.