When you have made the decision to sell your business, one of the considerations you will need to address is whether to use the services of a business broker for the transaction. Do you really need a business broker, or can you just sell your business on your own?

The short answer is yes, you absolutely need a business broker.

What follows is the second in a series of articles listing the reasons why the services of a business broker are essential for a smooth and successful business transaction. Mistakes made during a business transaction, many made simply because of the inexperience of the business seller, can be extremely costly. The fees you pay to utilize an experienced broker can be more than justified by avoiding these major blunders.

#2: Evaluation

Why is a business evaluation important?

You don’t want to ask far too much for your business because it may mean that your business never sells and you end up having to close the doors. On the other hand, you definitely don’t want to leave money on the table.

A proper evaluation of your business and knowledge of the current business market are critical for getting you the best price.

How do you get a proper evaluation of your business? Use the services of a business broker.

When you begin working with your broker, the evaluation of your business will mean an in depth look at both the positives and negatives of your business.  In regard to any negative issues you may have, your broker might be able to assist you in making small restructuring changes that would make your business more desirable to prospective buyers.

Just having a P&L or your tax returns will not do your business justice. Your broker will also be able to put together a proper presentation and package that will attract the right kind of buyer and get you the offers you are looking for.

Are you a business owner curious about what you could get for your business on today’s market? Has your business been on the market for what seems like forever and you’re beginning to wonder if you have it priced right? Leave us a comment or question here; we look forward to answering your questions.

Want to read Part 1: Confidentiality? Click here.

Want to read Part 3: Keeping Your Business Running? Click here.

Want to read Part 4: Marketing Power? Click here.

Want to read Part 5: Protection from Legal Issues? Click here.

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com