Many may struggle to describe the Business Broker role, so it is only natural when looking to buy or sell a business that you question whether you need a business broker at all!
The sale/purchase of a business can be very complex and tricky to navigate as it is not always a visible or physical asset that can be understood without the important support of key documents and information.
Unlike the sale of the property, there currently is no pooled database of recent comparable sales to accessibly refer to as a seller. Our experienced business brokers can provide you with internal data to discuss similarities, market trends and buyers’ expectation to form a current market appraisal as well as assist with a targeted and effective marketing campaign. We commonly get vendors asking us to sell their business after they have tried themselves.
They have failed because of a variety of reasons:
– Nothing was marketed well; a full proposal was not presented well, or at all.
– If they did manage to get some interest – Buyers were not given the right information, or ALL the information; they were not helped to get finance; nothing gets to the buyer because the seller is too busy; or the process for the buyer all seemed too hard. Then it all falls through wasting everyone’s time and you have lost, potentially the one real buyer!
– The problem then is that the business has then been on the market for some time and not sold. So, people think there is something wrong with it.
In this example, if presented well, marketed well, and followed up well you will always get a price that is well above any extra brokering costs. Best of all it actually gets done, and done properly, and with the least amount of stress for the seller.