How Close Is Close Enough? Thoughts For Business Sellers

Posted in Sellers Articles

Published January 21, 2021

When you first list your business one of the major points of discussion will be the delicate balance of where to set your listing price. Set the number too high and good buyers will pass your business by in favor of those more reasonably priced. Price it too low and you won’t be getting the best return on your investment.

 

You probably have a dream number in your head – an amount you’d love to get. Here’s the thing. That dream number may or may not be realistic – and isn’t something you should stick to come hell or high water. Instead, consider a threshold where you would still be comfortable making a deal – then add a bit to reach your full listing price. Businesses rarely sell for this full listing price, so the buffer between your threshold and the listing price is the sweet spot where negotiation can happen.

 

 

Ok, I’ve got a buyer and we’ve been negotiating for weeks. So far their offer is still below my threshold. Do I take the offer or walk away?

 

You can always walk away, but ask yourself these questions first:

 

One, is what they are offering unfair – or is it just not ideal? If you haven’t been able to reach a middle ground with your buyer, ask yourself “why aren’t they coming up?”  Is there something about your business that will be expensive to fix or overhaul the day they walk in the door? Are they worried about a customer who makes up a large percent of your bottom line leaving once the business changes hands? Are you asking for your inventory or equipment to be valued as new even though it’s a few years old? If you were the buyer – would what they’re offering make sense? If so, maybe you need to come down a bit instead of trying to force them to come up.

 

Second, is there a way to meet in the middle by making a creative deal? Could you offer seller financing? Is there a way to structure a deal that will hold back money in escrow based on certain markers over a period of time? Every small business deal is different, and it’s this individual nature that allows for creative purchase contracts to come together. If you and your buyer are really deadlocked on price, maybe there’s a creative way to reach a deal anyway.

 

Finally, are you willing to walk away and start over with a new buyer? Selling a business takes time. A lot of time. It also takes a huge amount of effort. If you’ve been negotiating with a buyer for weeks or months and there’s a gap between what you would want in an ideal world and what they are willing to offer – is it going to be worth it to you to start over? Unless the gap is huge – probably not. It can be difficult to end a negotiation by letting the other side “win”, but how many weeks or months will it take you to find another buyer? Will that new buyer be willing to offer you substantially more, or are they likely to come to a similar conclusion and offer something like your current buyer is? You should also think about your deal in terms of the difference in price. For example – is the difference $5,000 or $10,000 in a deal worth hundreds of thousands of dollars? Does it make sense to kill a deal for a relatively small difference in price? In most cases, the answer will probably be no.

 

Here’s where we’re going with this. How close is close enough? You might not be getting that ideal number in your head, or the offer might be under a threshold where you would love to be – but does it make sense to walk away for the difference? In a lot of cases you can bridge the gap with your buyer by using  a creative deal, or by looking at the offer objectively from a buyer’s point of view. 

 

Are you considering selling your business and have questions about what a fair listing price might be? Would you like to know more about creative deals we’ve put together in the past? Ask us! Leave any questions or comments and we would be happy to help.

 

 

 

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
5111 Ocean Boulevard, Suite E
Siesta Key, FL 34242

www.InfinityBusinessBrokers.com

 

 

 

 

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Advice About Your Business Deal – The Good, The Bad And The Unhelpful

Posted in Buyers Articles, Sellers Articles

Published November 23, 2020

In the business transaction world, it happens all the time. A deal between a buyer and seller seems to be headed to a happy closing table and then suddenly the deal is dead. What happened to kill the deal? More often than not, someone got some bad advice.

 

 

What kind of advice is bad advice?

 

When you are trying to buy or trying to sell a business, advice from anyone who has little to no experience with the process of buying and selling businesses is probably not going to be very productive. Here are a few examples:

 

A listing agreement (which gets your business listed on the market) includes protections for both the seller of the business and the business broker who makes the transaction happen. These agreements are fairly standard, and if you as a seller refuse to sign one, you are going to have a hard time trying to find a decent business broker to help you with your sale. These agreements are a legal document, so some sellers give the agreement to their lawyer (who has no business transaction experience) to look over before they sign it.

 

Another standard document (geared toward buyers) is the non-disclosure agreement (NDA). NDAs exist to protect the business itself during the transaction process as buyers are privy to the for-sale status of a business, confidential financial documentation and potentially proprietary information. The NDA is something you are going to have to sign if you want access to information about businesses on the market, and you’re going to have to sign one for each business you inquire about. Like the listing agreement, the NDA is fairly standard across the industry and is a legal document that some buyers will hand off to their lawyer before they sign it.

 

There is something essential about lawyers to point out here. Your attorney’s job is to make sure you are legally covered and completely free of any risk. As a business owner (or future business owner) you should already know that any business deal is going to come with a bit of risk – it’s the nature of the beast. So how do you reconcile the opinion of someone you have hired to protect you from any and all risk with a business transaction that may carry some risk on your part? The short answer is you don’t. If you give your attorney who helped you with your divorce or the one who helped you sue a contractor for negligence a business listing agreement, a NDA or for that matter any agreement you may become a party to during a business sale, they will likely tell you not to sign it, or only to sign it if they are allowed to make a lot of changes (which is likely out of the question).

 

What should you do then? Hire a business transaction attorney instead. A business-specific attorney will be able to advise you during your business sale because they have done it before and know what they are doing. They are already familiar with typical agreements, they know the ins and outs of the process, and will be a far better legal guide.

 

Another example of advice that can be counter-productive is advice from the CPA who usually does your taxes. Unless they have been a part of business transactions in the past, they are going to be a problem for the same reason that your regular attorney is – it is their job to cover you and you alone. The issue that arises with a CPA who is unfamiliar with business transactions is they may not understand the way businesses are evaluated and how they are priced. With many types of businesses, the value comes from more than just what shows up as black and white on a profit and loss statement. When you ask your regular CPA to take a look at the business you may end up with inaccurate advice. Instead, hire an accountant familiar with business transactions because their advice will be far more valuable.

 

What about advice from your friend’s brother-in-law who used to be a commercial real estate agent, from your neighbor who owned and sold a business 25 years ago, or from your good friend who’s a dentist? Listen to all of the advice you get, but remember to filter what you hear because professionals who do business transaction work for a living are probably best qualified to answer your questions. If unsolicited advice leaves you second guessing your choices in the transaction, by all means talk to your business broker, transaction attorney, and transaction CPA before you decide to back out of a deal. You don’t want to miss a great opportunity because you got terrible advice!

 

Have you been in a deal that fell apart because of bad advice? Share your experience here! Do you have more questions about the roles of business brokers, transaction attorneys or transaction CPAs? Please feel free to leave us any questions or comments – we would be happy to help.

 

 

 

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
5111 Ocean Boulevard, Suite E
Siesta Key, FL 34242

www.InfinityBusinessBrokers.com

 

 

 

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Business Sale? When To Tell The Staff

Posted in Buyers Articles, Sellers Articles

Published October 19, 2020

 

When a business is larger than a one-man shop, what the employees know about the sale of the business and when they know it are of major consideration and concern.

 

Keeping the employees in the dark is extremely important.

 

Breaches of confidentiality about a business and it’s for-sale status can cause massive issues.

 

There is a reasonable concern that once an entire staff knows the business is for sale, it will be impossible to keep that for-sale status confidential for any future time the business is on the market.

 

Employees may also jump ship. This usually occurs within the lower-level employees – think servers in a restaurant or clerks in a retail shop. The typical fear is a new owner will come in and clean house or that the business is for sale because it is closing the doors for good (rarely true).

 

What many sellers and their employees fail to realize is the jobs of critical staff (and maybe even the staff as a whole) are probably never safer than during the time frame when new ownership takes over. New owners need trained staff in place to keep the business up and running while they learn their new responsibilities.

 

My employees found out, now what? I don’t want to lose my whole staff.

 

If you are a seller whose employees somehow know the business is on the market (either intentionally or by confidentiality breach), make sure your employees know that you are expressing the importance of those employees to a new owner – this can greatly help to calm fears.

 

For the buyer of a business, meeting the staff before deciding whether or not to buy the business may seem necessary, but there are usually very few instances where this will be able to happen. Lower-level staff will likely have to be met after the deal is closed.

 

The employees a buyer will most likely be able to meet pre-closing will be key employees like managers and other staff members who are crucial to the operation and would be very difficult to replace. In most situations, the buyer will meet these employees only after all other aspects of due diligence have been satisfied and the deal is still moving forward. This protects the seller’s business from any damage that could be done by revealing the sale to the staff too soon.

 

The message here is that maintaining the confidentiality of the business sale will be paramount to the successful sale of the business, so both buyers and sellers will have to work together when it comes to the staff in order to keep everyone in place.

 

Are you a business seller who is concerned about your staff knowing the business is for sale? Are you a business buyer who feels they need to meet the staff before you get to the closing table? Please feel free to leave us a question or comment, and we will be happy to address any concerns you may have.

 

 

 

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
5111 Ocean Boulevard, Suite E
Siesta Key, FL 34242

www.InfinityBusinessBrokers.com

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Why You Need A Transaction Broker: Protect The Deal Itself

Posted in Business Broker Why & How, Buyers Articles, Sellers Articles

Published October 5, 2020

Business sales are inherently complex. There are many aspects of the process of buying or selling a business that can be very different from the buying and selling of anything else.

 

If you have bought or sold a home, for instance, the business sale process will seem very foreign. There is usually more money changing hands, more complex financial issues, commercial leases needing to be negotiated, licensing and permitting concerns – the list goes on. How does one navigate this complex process? You employ the services of a professional business broker.

 

 

What is a business broker?

 

They are sometimes also known as transaction brokers, meaning they represent the transaction itself. 

 

Typically each side of the deal will have their own broker, and both essentially represent their party’s part of the transaction instead of representing the people themselves. This is why it is possible to have one broker for both the buyer and seller side of a deal. If both parties can trust the broker involved, having only one person as a go-between can make negotiations less difficult. 

 

Why is the business broker representing the transaction itself a good thing?

 

When a lot of money is changing hands things can get out of control very quickly. Business deals are messy. If the deal starts to go south, as most do at some point in the process, the broker is there to protect the deal. This is different from what an attorney might do in the same situation – an attorney’s job is to protect their client from any and all risk. If business brokers were employed to do the same thing, prevent any and all risk, it would be impossible to get a deal to closing because all business dealings – business sales included – come with a fair amount of risk.

 

The broker or brokers representing the transaction is what gets deals done.

 

Having someone to keep the deal moving is truly helpful, but you should also be able to trust the broker or brokers involved. Your broker is there to help you navigate this incredibly complex process and to help you either successfully sell or successfully purchase the right business for you. A good broker will go the extra mile for their clients because your eventual success as a business owner or seller leads to your broker’s success within a healthy small business market. 

 

Are you thinking of buying or selling a business and want to know more about the role of a business broker in the process? Please leave us a question or comment here, and we will be happy to help.

 

 

 

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
5111 Ocean Boulevard, Suite E
Siesta Key, FL 34242

www.InfinityBusinessBrokers.com

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Business Sellers: Why It Pays To Be Nice To The Buyer

Posted in Sellers Articles

Published September 24, 2020

It can be very difficult to sell your business. It’s a place that’s been your home away from home. You’ve put in your time, your energy and your money and now the time has come to pass on the reins to someone else. If you are selling your business and that person will be a stranger, it can sometimes be very difficult to let go and walk away.

 

Mental preparation is an aspect of the business sale process that most sellers don’t consider – but it can be crucial to getting a deal done. 

 

Why do I need to mentally prepare?

 

Most entrepreneurs and business owners have strong personalities. The type of person who can successfully own and operate a business is a person who has the drive and passion to succeed. As a business owner, you know what it takes. Guess what? Business buyers are entrepreneurs too. They will probably have a strong personality as well. It can sometimes be very difficult to work out a complex deal when the personalities on both sides are equally tough.

 

It can be tempting to let personal clashes between you and a potential buyer escalate – but keep reminding yourself that it will make it easier for you in the long run if you do your best to maintain a positive relationship with a business buyer.

 

 

What if I don’t like the buyer? Why do I have to be nice?

 

It can take a long time to get a business from initial offer all the way through to closing. Think weeks and months, not days. You also need to tack on a training period that will happen after closing, so you will probably have to work with this person for an extended period of time. Another thought? Once the transaction is over, the business brokers are no longer going to be there to act as a buffer. The one-on-one time with your buyer can be excruciating if you aren’t getting along – so it is in everyone’s best interest to keep the relationship amicable.

 

What if I don’t want to stay on and train them?

 

There are very few business transactions that don’t include a training period. The good news is most training periods are only a couple of weeks. It would be foolish for someone to walk in on day one and try to take over without knowing how the business is run. If you have employees or clients, you owe it to them to get the new owner up to speed before you walk away. It can be tough if you and the buyer aren’t on the best of terms, but the transition for your staff and clientele will be far less stressful if it appears that the relationship between you and the buyer is good. So for yourself, the future of the business and the sake of your staff be as nice as possible to the business buyer.

 

How can you stay focused on being nice?

 

Keep reminding yourself why you are selling. Whatever life will look like for you after the sale, keep focusing on that goal. Your time with the business buyer is short – and you can weather the storm. 

 

Are you considering selling your business and are worried about having to hand over the reins? Would you like to know more about how a training period works? Ask us! Leave any questions or comments and we would be happy to help.

 

 

 

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
5111 Ocean Boulevard, Suite E
Siesta Key, FL 34242

www.InfinityBusinessBrokers.com

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How To Get Your Deal To Close – Managing Reality and Expectations

Posted in Buyers Articles, Sellers Articles

Published August 17, 2020

No matter what the economic climate looks like, there are always businesses changing hands. Buyers and sellers are always working together – but even in the most favorable of circumstances some deals are destined to die. 

 

Why?

 

The main reason that deals fall apart before they hit a closing table? Unrealistic expectations. 

 

Business buyers and business sellers come into the business transaction process with an idea in their head of how that transaction is going to go and what they will get out of the deal. The problem with this initial vision is they are almost always an impossible reality. Businesses and business transactions are complicated, messy and involve many moving parts and personalities. Considering your business transaction with a focus on reality will help you immensely in having a successful sale or purchase.

 

 

First and foremost, there is no possible way that you are going to get everything you want. If you are buying a good business, you are not going to get it for a rock-bottom price. If you are selling, you are not going to get 10 times what businesses like yours are actually selling for. Business deals are full of negotiation – and not just about price. You will have to negotiate things like the length of due diligence, the length of the training period, the terms for seller financing, the clauses of a new lease – the list goes on. Be realistic in the negotiation phase of your business transaction. Go in knowing that there will need to be a lot of give and take from both sides of the transaction if you are going to get a deal done.

 

Another major issue that requires a reality check? We’ve already mentioned it – personalities.

 

There are a lot of people in a business transaction. There is a seller, a buyer, a couple of business brokers, business transaction attorneys, CPAs, landlords and property managers – and each one of these people will be seeing the transaction unfold from their own unique point of view. You need to be realistic because there are going to be times during the negotiation that one or more of these personalities are going to clash. For the most part, differing opinions can be sorted out, but only if all sides stay in the negotiation. Going into your business transaction with the understanding that problems will absolutely be a part of the game will help you see the end goal instead of focusing on temporary personality clashes.

 

Keep your expectations in the realm of reality and you will have a much better chance of reaching a closing table.

 

Are you thinking about selling your business and are curious about what businesses like yours have actually sold for? Would you like more information on the process to buy a business? Please feel free to leave any questions or comments here and we would be happy to help.

 

 

 

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
5111 Ocean Boulevard, Suite E
Siesta Key, FL 34242

www.InfinityBusinessBrokers.com

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Your Value of Your Business – Is It Realistic?

Posted in Sellers Articles

Published August 13, 2020

 

We’ve owned businesses, so we completely understand how much of an investment small business ownership is. Whether you started from scratch or purchased the business from someone else, you had to put a huge amount of capital up to start your life as an owner. You’ve then spent the rest of your time at the helm constantly reinvesting in your business to help it thrive and grow. If you go back and add up all of that financial investment – it’s huge.

 

When the time comes to part ways with this business you’ve invested in there can be an initial urge to put out a price tag that would recoup all of that invested money. The reality is that number is probably well beyond the realm of possibility.

 

 

The harsh truth of the small business market is your business is only really worth what someone else is willing to pay for it.

 

No buyer in their right mind would give you way more than your business is currently (and realistically) worth. Instead you need to price your business based on things like cash flow, your current financial statements, your inventory – you get the idea.

 

To be a successful seller, you need to be smart about your listing price. You want your listing price to generate interest, to be competitive with other businesses like yours that are currently for sale and to be in line with what businesses in your industry have actually sold for. The number you want and the number that makes sense might be very different, but you need to be willing to compromise if you ever hope of reaching a closing table.

 

A quick note here – be wary of a business broker who will let you demand to list the business for whatever you want. A great broker will help you decide on a number that makes sense based on your numbers and the current market. A terrible broker will take your crazy-priced business listing just to get the listing, knowing full well that the business will never sell at that price. The point of listing your business is to sell it, so price it to sell.

 

If your goal is selling, you also have to be prepared for the attitudes of buyers as they relate to the value of your business and the legitimacy of your listing price. Many new buyers don’t consider the vast investment you’ve made or the cash flow the business is currently generating – they incorrectly consider businesses as just four walls and the stuff inside, an asset sale. This misguided attitude means that many initial offers from buyers might seem shockingly low. The important thing to remember when you get a low offer is that it is merely a starting point for negotiations in much the same way your listing price isn’t the bottom number you would like to get out of your business. If your number is realistic and they are a serious buyer you can more than likely reach a middle ground that will make both camps happy.  

 

The message here is to go into the process of selling your business with an open mind – and success will follow.

 

Are you thinking about selling and want to know what businesses like yours are currently selling for? Do you have questions about how the process works? Ask us! Leave any questions or comments here and we would be happy to help.

 

 

 

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
5111 Ocean Boulevard, Suite E
Siesta Key, FL 34242

www.InfinityBusinessBrokers.com

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Selling Your Business? Tips For Growth Before You Sell

Posted in Sellers Articles

Published August 6, 2020

If you are thinking about selling your business, you should also think about maximizing the potential value of your business to buyers before the business hits the market. Many business owners who start the selling process take their foot off the gas, expecting the business to sell quickly and without much effort. If you are considering this approach, you should know that the typical time it takes to get from listing to closing is 9-12 months, an absolute eternity if you stop caring about running your business and plenty of time for you to sink what you’ve built.

 

Instead of trying to coast to the finish line, you should do everything you can to continue the growth of your business by seeking out new customers to add to your base. Increasing your customer base will add value to your business in the eyes of buyers, and will also show them that your business is a good investment because you as the current owner always have an eye on growth.

 

 

Although it can be difficult to find new customers in a small, local area and that difficulty is now compounded by a global pandemic – there are a few relatively simple things you can try to get your business noticed by both new clientele and buyers.

 

Get and Maintain an Online Presence

 

Hop on any major search engine and type in the name of your business. What pops up? If you have no online presence to speak of you should know that in our ever increasing digital world an online absence will reflect very poorly on your business. Why? Any buyer who sees you have neglected the most important avenue for customers to find you will wonder what other aspects of the business you’ve let slide.

 

It is very easy to make yourself visible online. You first need to make sure your business information is both listed and correct on all of the major search engines. Your listings on these sites should include your address, phone number, an email and a short blurb about what you do. Next, you should set up a business Facebook page and regularly post news about your products and services. Finally, ALL businesses need a website. A business without a website is the equivalent of a store without a sign out front. There are many services available to create a website on your own without any tech-savvy knowledge or you can hire a web designer to create one for you. Make sure your website includes the location of the business, the contact information, the hours of operation and the products or services you provide. Make it incredibly easy for people to find you and your customer base will grow.

 

If at all possible, you should also have on your website a way for customers to purchase your goods and services from the comfort of their home. Use an online appointment setting service so customers can schedule your services whenever they want. If you have a restaurant or other food service business, set up an online ordering platform and offer curbside takeout. If you have a retail store, set up an e-commerce platform so your customers can still shop from their couch.  If it isn’t feasible to offer everything you have in your inventory in a digital store, you an certainly take your top sellers and make them available for digital purchase and offer the option of shipping or curbside pickup. Flexible and innovative businesses are the ones that attract new customers and also have the staying power to survive the times. The digital platform is a great way for you to maximize your profits while also showing potential buyers that your business can make it through.

 

Ask For and Respond To Feedback

 

TripAdvisor, Google Reviews and Yelp are where customers look when deciding on a new business to use, so use rating sites like these to your advantage. Ask customers to rate you, and respond in a positive way to any negative reviews by addressing and then fixing that person’s concerns. Showing that you are an engaged owner will not only help your business reputation with customers, it will help with any potential buyers as well.

 

Taking these fairly easy steps to bring in new customers will both add to your bottom line and impress any potential buyers who come in the door. Don’t take your foot off the gas, especially now!

 

Are you thinking about selling your business and want to know more about growing your business with an eye on selling? Do you have questions about the business selling process? Please feel free to leave any questions or comments here and we will be happy to help.

 

 

 

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
5111 Ocean Boulevard, Suite E
Siesta Key, FL 34242

www.InfinityBusinessBrokers.com

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Why Walking Away From Your Business Is A Big Mistake

Posted in Sellers Articles

Published July 30, 2020

Small business ownership can be tough.

 

We know because we’ve owned businesses ourselves. The long hours, the responsibility – sometimes you feel like just locking the doors. Add to that the current state of affairs. Shut downs, required social distancing and the like. It can be really tempting to just say “forget it” and walk away. 

 

 

Don’t do it! Walking away keeps you from getting a return on all of the investment of time, money and energy you’ve put into your business. Selling your business, no matter what state it’s currently in, gives you a chance at both continuing the legacy of what you’ve built by keeping it open after you’ve left – and walking away with some money in your pocket as well.

 

Yes, it takes patience – but you can see it through. It typically takes somewhere between 9 to 12 months to get a business from listing to closing – but this time frame is entirely dependent on the type of business, the buyers currently in the market, the efforts of the business brokers involved, the efforts of the seller and the characteristics of the business itself. Some businesses sell right away, others take longer than 12 months. The only way to know how long it will take to sell your business is to give selling a try.

 

It also takes flexibility and a good dose of reality. We’ve had clients walk away from decent offers – think hundreds of thousands of dollars – because the offer wasn’t for the full price of the listing or they were too burned out to go on. They locked the doors and left all of that money on the table.

 

Unbelievable, right? Walking away with something is far better than walking away with absolutely nothing. It is also far better to hang in there for a little while longer and walk away check-in-hand.

 

We’ve also known folks who refused to try to sell because they didn’t want to pay a commission to a broker. The amount of work it takes to get a business transaction successfully through to closing makes paying for a broker’s help invaluable and a completely sensible business decision. In fact, using a good broker is typically the difference between selling successfully and not selling at all.

 

Worried about how much the commission would be? Negotiating the broker’s commission rate is something you get to do before you list, so if you don’t like the number you can absolutely walk away. Before you do, however, realize that the chances of a business seller successfully getting to closing on their own is usually slim to none – and if you can’t sell on your own you will more than likely be leaving a lot of money on the table.

 

Don’t lock the doors. Call us instead.

 

Have you considered selling your business and want to know what businesses like yours have recently sold for? Would you like to know more about selling a business that is currently closed? Leave any questions or comments and we would be happy to help.

 

 

 

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
5111 Ocean Boulevard, Suite E
Siesta Key, FL 34242

www.InfinityBusinessBrokers.com

1 Comment »



Selling? Why A Business Broker Is An Absolute Necessity

Posted in Business Broker Why & How, Sellers Articles

Published July 16, 2020

Are you thinking about selling your business and having these thoughts? 

 

I’ve owned a business for years. I know what I’m doing, why would I need someone to help me sell it?

 

Guess what? You absolutely need someone to help you sell your business – especially now in these uncertain times. That person is a business broker and they will be pivotal to your success in the business-for-sale marketplace.

 

 

Why? 

 

You have put your blood, sweat and tears into your business to make it what it is today. When you sell your business, you want to get as much as possible for all of your hard work, and a business broker has the ability to do that for you.

 

Business owners are smart people, and they are great at what they do. Does that mean that they are qualified to sell their own business? Probably not.

 

A business owner has knowledge and expertise in their own industry, and the success of their business depends on their ability to focus on keeping the business going. A business broker has knowledge and expertise in the world of buying and selling businesses, and as a business seller you will need and appreciate this expertise throughout the selling process.

 

A business broker has the time to focus on selling your business, and the know-how to keep the whole thing confidential. This confidentiality is crucial if you don’t want to risk losing clients, vendors, and employees if the word gets out you’ve put the business up for sale. Brokers also have the ability to reach far more potential buyers than you could on your own. They belong to networks and have access to databases where they can market your business confidentially. Business brokers also know buyers who are on the lookout for specific kinds of businesses, so as soon as yours goes on the market, they will likely have people who may be interested. A business broker has a great deal of business marketing experience, and knows how to put together a marketing package that will bring the right kinds of buyers to you. They are then able to act as an intermediary between you and any potential buyers.

 

Most importantly a broker takes the pressure of the sale off your back so you can focus on doing what you need to do in order to keep the business moving in the right direction. 

 

Don’t take so much on your shoulders by trying to sell on your own. Get the right help.

 

Are you considering selling your business but still don’t think you need a broker? Would you like to know more about how a business broker helps you sell your business? Ask us! Leave any questions or comments and we would be happy to help.

 

 

 

 

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
5111 Ocean Boulevard, Suite E
Siesta Key, FL 34242

www.InfinityBusinessBrokers.com

No Comments »



Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com

9040 Town Center Parkway
Lakewood Ranch, FL 34202



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