Successful Deals Are Teamwork
Regardless of your level of knowledge and experience in the business, there are some aspects of buying and selling. Selling a business requires professional advice from a specialist. Instead of viewing these costs as undesirable, you should see them for what they are: a top-notch team of skillful deals that will save you time, money, and unnecessary stress.
A finance specialist will help you find solutions to financing problems and advise on minimizing tax liabilities, while a business lawyer will negotiate on your behalf, identify risks, ensure legal compliance and draft a flawless contract. Moreover, by delegating responsibility for the complex elements of the transaction to professionals, your time is freed up to focus on maintaining your day-to-day business and income.
Why Use a Business Transfer Agent or Business Broker?
While business agents and brokers predominantly act on sellers’ behalf, maintaining a contact base of serious potential buyers is in their best interest. Therefore, whether you are a buyer of a business or a seller of a business, it makes sense to establish contact with them for the following reasons:
A good business transfer agent:
Has exceptional market knowledge across regions and sectors and access to extensive business transactions. Databases that provide them with benchmarks to determine a realistic valuation
Acts as an intermediary between buyers and sellers, vetting potential buyers and ensuring that sellers are only introduced to pre-qualified buyers who have demonstrated proof of financial support and signed a confidentiality agreement. Offers sophisticated marketing and advertising services that present your business in the best possible light and have the necessary tools and resources to establish direct contact with a vast base of potential buyers.
Acts as an experienced negotiator who knows and can overcome common obstacles to secure the best possible price
You’ll find that all of these benefits, as well as the resulting money saved on wasted time and gained from maximizing the selling price, more than outweigh the cost of the agent’s or broker’s commissions. You’ll find that all of these benefits, as well as the resulting money saved on wasted time and gained from maximizing the selling price, more than outweigh the cost of the agent’s or broker’s commissions.
How to Find a Good Business Transfer Agent or Broker
Nowadays, it’s common practice to turn to the internet when looking for anything from vacation deals to plumbers, so by all means, do an internet search to identify agencies and brokers in your area. However, a brilliant website is not always a guarantee of top-notch service, just as the size of the company is not always a guarantee that you will be allocated an experienced consultant, and the location of the company is not always a guarantee that brokers have the best knowledge of the market.
Ask for a recommendation.
The best way to find a top-notch business transfer agent or broker is through a referral, either
through someone who has used their services as a client or through another professional advisor who
has worked with them on previous successful transactions.