Tips on Selling Your Business With a Business Broker
Want to Sell Your Business?
Connect with the RIGHT intermediary and leverage their niche expertise
When the decision to sell a business is final, business sellers often try to do it alone to save themselves the cost of a commission (or because they don’t even know what a “business broker” is, which indicates a larger awareness issue in the industry…).
Today, business acquisition & sale markets are awash with high-tech platforms that claim to make selling a business less labor-intensive and stressful. At BizNexus, we don’t allow sellers to post directly on our platform, and we do that because we believe in the value a great intermediary can provide when it comes to vetting, pricing, and negotiating a unique transaction. If you’re a would-be seller thinking of going along, it’s best to understand the resources available to you to help make a successful transaction actually happen before you jump in on your own.
Data and Reviews
We’re big fans of people, -real people who absolutely should be involved in any company sale process. Use reviews to help you build your deal team. Lawyers, business brokers, CPAs…. It’s 2020 people, -if there’s no data on the interweb about a professional you intend to work with there might be something off, so be sure to check with references and verify, verify, verify before you sign any contract. When a business owner has a business for sale, the process can get sticky leading to a potential transaction close, and we strongly recommend having experienced, capable professionals on-call to help you get your transaction over the goal-line.
Finding the Right Marketplace to advertise a Business for sale
There are certain features to consider when it comes to finding the best marketplaces to advertise a business for sale. These include:
Do you have clarity on who potential buyers actually are?
Does the marketplace simply allow you to post a business for sale for a fee? Or is there a professional involved at some point in the process for valuation and listing?
Is there any degree of confidentiality? Can you anonymize your information, location, etc., and still get in front of the right buyers?
An Online Site Based on People & Professionals
When the decision to sell a business is final, we recommend you try to get matched with the best intermediaries for you based on industry, location, deal size, and real-time transaction data. Check out BizNexus, and get matched up with your perfect business intermediary. We’re a platform for active business sellers and business brokerages active in the industry.
BizNexus - A Solution For Busy Entrepreneurs
If you’re busy running the day-to-day of your business, you might not have time to give the selling process the TLC it deserves. It’s a classic situation of not being able to focus on what’s important because you’re buried with everything urgent. BizNexus is a marketplace created for entrepreneurs, and it only takes a few seconds to get matched up with the best business broker for you, so give it a whirl if you want to get the ball rolling on setting yourself up for a great exit.
BizNexus -Learn More From Our YouTube Playlist:
PREPARING TO EXIT YOUR COMPANY
Have you checked out our podcast?
THE BIZNEXUS ROUNDUP
Quick & dirty interviews, war stories & tips from the trenches of business acquisition, growth & sale. We aim for value, efficiency & fun, so you'll walk away with something useful to take with you along the journey of buying, growing & selling a business.
