Is it Time to Sell Your Business?



As an educated broker, I’ll tell you that utmost business possessors are so involved with operations and operation, they cannot do a good job selling their companies for trade.

Guard OF SCHEMES. I’ve represented business merchandisers who preliminarily paid in excess of $30,000 to a marketing company that was going to vend their business. It began with forums about how to vend your business. The figure was necessary for marketing accoutrements and an elaborate valuation. The merchandisers report not a single buyer prospect was produced. Commitment freights to vend a business should no way exceed 10% of the entire success figure for a completed sale.

KNOW WHOSE INTERESTS ARE FIRST. Unlike with real estate, business brokers aren’t needed to cooperate with other brokers. I’ve experience first hand a broker saying no to a buyer prospect because they were represented by another broker. YOUR BROKER COULD BE KEEPING BUYERS FROM YOU. Make sure your representation agreement states that your broker will cooperate. Trying to keep the entire commission for themselves doesn’t serve you, the customer. Businesses for sale in Collier County

ALWAYS ASK FOR REFERENCES. A good broker will have proven themselves to a number of guests and counsels. Accountants and attorneys are a good place to ask. utmost of these counsels aren’t salesmen or expert marketers, but should point you in the right direction.

KEEP GOOD RECORDS. Without good books, any business is most delicate to vend. Be current on your duty returns. Always track any charges that will go down with a new proprietor. These can produce further value in your business.

Tags: No tags

Add a Comment

Your email address will not be published. Required fields are marked *