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Why hire a business broker?

Updated: Jan 31

My interest in business brokerage began when I sold my company in 2020. What I learned from this process is that selling your business is a part-time job in and of itself. Thankfully, we had a very competent and knowledgeable broker to guide us through the process. Without the guidance of our broker I am not sure we could have finalized the sale. We encountered a few bumps in the road, and our broker was a steady hand in directing us to find the best resolutions and connect us with other trusted advisors.

As a business owner, you are the expert in your specific business/industry. Your time is dedicated on your business - whether it be helping customers or managing employees. Long story short, you are busy. You grow your company, you build a positive brand for your business in your community, but then one day you decide it is time to sell. Now what?

Well, I can tell you in my experience, there are aspects of your business that you think are important, but what you find important as a business owner doesn't always translate over as important to a potential buyer for your company. Sometimes it can have a negative impact on the attractiveness of your company to a buyer.

What in the world do you mean? One example is the owner involvement in the business. Are you the primary source of sales for your organization? Are you the glue that holds your organization together? If so, think about this from the buyer's perspective. If they buy your company and you leave - where does that leave the buyer once they take over? Will customers stay loyal to the company or will they leave? Are there any key employees in your organization that can take over some of your responsibilities once you leave? If you don't have key employees in place this means that the buyer will need to hire/train employees to take over these roles. This isn't always a bad thing, but it is something to consider as you begin your journey of selling your business.

If you are thinking about selling your business, please contact me for a no-obligation, no-cost consultation. Together, we can walk through a strategy to help you sell your business. My goal is to provide you the highest valuation, the best terms, and peace of mind knowing that the transition will be seamless!

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