According to a BizBuySell.com’s insight report, in 2016, about 7,842 small businesses were sold. Selling a company is a major decision for any business owner. If you’re thinking about moving on from your lifelong business venture, then it’s essential to take every aspect of the process seriously.
You and your business broker will sit down and go over your entire strategy for the sale of your company. It starts with a business valuation to estimate it’s financial performance and set seller expectations.
By working with an experienced advisory team, you’ll be able to develop marketing materials that are specifically designed that will motivate great prospective buyers to make an offer. Your position in the business marketplace matters significantly as you try to get the best possible price.
Another part of selling your business is dealing with the constantly changing marketplace. At any given moment, there are dozens of similar business owners who are listing their companies on the market, so working with a trusted advisor will help you get a competitive advantage.
During the negotiation process, if you aren’t utilizing a broker with a business sales experience, you aren’t going to get nearly as good a price as you want. Your advisor team will guide you through the entire negotiation process and handle all offers and counteroffers.
Even though this step is so late in the sales process, so many deals fall through right before the close. This is where your business broker will shine and why you need a skilled advisor to make a strong delivery that will lead to an eventual close.
A quality business broker can help you successfully sell your business and earn the best possible price. If you are ready to take the next step in your life and need help selling a company, contact Aberdeen Advisors today.