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Reasons For Hiring A Licensed Business Broker When Selling Your Business On typical, selling a business can take between 6 to 9 weeks. Here is a list of 5 reasons why utilizing a certified business broker will greatly benefit the seller when selling their business. Maintain Strict Confidentiality Strict Confidentiality is imperative when selling a business. When a business owner decides to sell a business, there’s a chance of losing key clients, vendors and/or personnel if word of the sale gets out. We have all potential buyers sign a Non-Disclosure/Confidentiality Agreement before we release any information about the business. We’ll also learn more concerning the buyer’s financial capability along with his business acumen before releasing any confidential advice. Brokers will also shield owners from being inundated with lookie-loos or callers trying to suss out information.
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It Is imperative that the business owner continues to conduct the company at the maximum level possible and to continue an upward tendency of their earnings or they will risk a decline in the last sale price. There are hundreds of factors in selling a company and it is the Broker’s job to pay careful attention to such details. We manage the whole sales transaction, in the start, all of the way into the close of escrow. Together with the agent handling all of the details, this will enable the company owner to concentrate on keeping the earnings on an upward trend. Buyers don’t like to buy a company with a downward trend of their revenues. Provide a Valuation of the Organization Certified business agents will review the business financials, recast the Profit & Loss Statements to show the true profitability of the business, and to create an effective Cash Flow Analysis to demonstrate the true viability of the company. A broker will explain how the evaluation was invented and will indicate and explain a viable listing price. Business Agents work closely with the operator and their CPA/accountant to get the appropriate advice about the financial strength of the business. Buyers like to see financials that are straight forward and clear, they do not like to see a lot of “creative accounting”. The broker assist with the negotiations Having A Licensed Business Broker as an intermediary during the negotiating process can ease a lot of tension between the 2 parties. A seller that is selling his own business can actually wind up murdering his own deal. Business agents help during this very important step in the sales process and we understand that the seller would like to sell high, and the buyer wants to buy low. Our plan is to negotiate reasonably and have an outcome that both parties could be pleased with. Helps in handling all contracts and records Company agents will manage all of the many contracts, documents and paperwork associated with the sale of a business. This process is very time consuming but also very important and should be handled by a competent business broker.