is a broker worth the expense?
Hiring a business broker may seem like an unnecessary expense to a business owner who wants to see the highest return when selling their business. But according to research from industry associations the IBBA and The Exit Planning Institute, only a small fraction (10%) of businesses for sale actually sell. Because the business broker's sole responsibility is to sell businesses, and they are doing it every day, they can help increase your chances of a more timely and successful sale for the highest price to qualified buyers.
Why Business brokers add value
Focus and Expertise
The expertise of a business broker is invaluable because they understand the buyer and seller motivations and use best practices. As important, is their focus. Selling businesses 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 for their sellers. 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 of experience which makes them your greatest ally during negotiations. They know when a buyer is demanding too much or offering too little, or when a buyer is having trouble securing financing, for example, reducing unnecessary wasted time. They will negotiate on your behalf, so you can stay focused on running your business.
Business brokers have the experience to know what buyers are looking for and how the market is performing to best present your business in the most attractive light. The ability to highlight strengths and help you minimize weaknesses is a crucial part of preparing your business for sale This invaluable advice is what will help business sellers successfully close a sale.
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 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, and are more likely to receive multiple offers you can counter as needed.
Invested in YOUR Success
A business broker is paid for performance. 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. With locations around the country and around the world, 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.