If a seller try’s to sell a business on there own, there are many errors that can cause them to
either fail, or sell the business for less than its true value.
Many unprofessional business brokers tease sellers by suggesting the value of their business
is higher than what it can really be sold for. Those brokers later require the seller to lower the
price to create more buyer interest.A quality business broker will give the seller 3 choices that
they can justify –The highest price they feel the business can sell for over a longer period of
time, the lowest price it should sell for and a recommended price based on the needs of the
seller and the business itself. If your broker does not use your financial statements to create a
formal valuation that can be justified to a buyer, you should be very concerned.
Deciding to sell your business is the easy part. How to go about it is another problem altogether. Setting a price, advertising, negotiating with a prospective buyer, and a sea of legal and financial details must be managed.
Also, most accounting in a privately held company is done to minimize tax obligations and may not portray the businesses true profitability; we deal with this problem on a daily basis.
We can save you time and frustration when it comes to selling your business. As business sales experts, we will guide you through every aspect of the selling process – from arriving at a fair market price to handling financial arrangements and closing the transaction.
When selling a business, it’s critical to get the asking price right. Set it too high and you won’t get any buyer interest. Set it too low and you’ll leave money on the table. So when you set a price for your company make sure that every penny of company value has been accounted for while also remaining realistic.
Prospective business buyers won’t simply take you on your word. You need to have documents ready to support every claim you make during the sales process. During the course of a business sale prospective buyers will expect to see “just the facts” about your business.
Let’s face it — selling a business can be a lot of hard work and a major time commitment, and that is why you want to hire the right broker who will do the most marketing and carefully screens buyers before giving our any confidential information