Reasons to Hire a Business Broker When Selling Your Business
Back in the dark days of 2008 and 2009, when employees were losing their supposedly safe corporate jobs en masse, these talented individuals needed to act – and fast – if they were to keep theirs mortgages and lives afloat. Many of these folks chose themselves and started businesses, and while the economic climate was rough, the flexibility they were able to offer their clients allowed a good number of them to succeed in the end. Fast forward 5+ years, and the economy has largely recovered, leading to a much friendlier environment for those looking for an exit from their profitable enterprises. The problem is, many of these born hustlers are still intimately involved in their businesses, which is bad news for those looking to get a good deal on the sale of their company, as this process is labour, time, and paper intensive. Fortunately, these businesses can turn to another business sector that makes this process smoother for busy entrepreneurs, as business brokers like Neumanm Associates (link: http://www.neumannassociates.com/selecting-your-advisor.cfm) specialize in making it as painless as possible. Still clutching your wallet tightly in the fear that this expense might not show a positive ROI? The following reasons will show you that when you hire a business broker, they can add value to your life in terms of money and time. First and foremost…
1) It keeps the status of your company (in the process of a sale) secret from the public Afraid that the process making it known that you are selling will drive away clients, drying up your income stream and reducing the value of your business overall? Professional business brokers act as a middle ground between suitors and your company, keeping your businesses’ good name off the net and out of the papers – until the transaction is completed.
2) You get to outsource all that mind-numbing paperwork to someone far more knowledgeable Another burgeoning headache for many busy company directors: the massive reams of paperwork that come with the process of selling, complete with horrendously complex legalese. Business brokers eat, live and breathe all these bits of minutia, saving you countless hours of sifting through this mess of dead trees on your desk, while saving you the embarrassment of missing an important aspect of the agreement that could cost you tonnes of money.
3) They have years of experience in contacting and recruiting qualified buyers Many buyers have no business running corporations that have been guided by skilled and steady hands for many years, the end result of which is them running your legacy into the ground, often in shocking fashion. Further, many suitors are skilled in the art of wasting your time with ridiculous offers, only to demand changes at the last minute, leading to many groans on your side of the table. A business broker only allows qualified and serious buyers to proceed to the final stage of negotiations, making the process of completing the sale much smoother, while insuring that your baby will be in good hands going forward.