When you decide you need outside assistance as you wish to Sell My Business, turn to a business broker for assistance. The broker knows exactly what to do to Sell My Business in the shortest time possible. Here are some common steps you can expect the broker to take to achieve this goal.
1. The broker sits down with you to determine exactly what it is that makes your business unique and how it benefits the general public. With the information obtained during this meeting, the broker can develop a strategy to market the business to the target audience and attract as much attention as possible.
2. Once the strategy has been put into place, the broker will request a business valuation. You may have already had the business valued to see what you can expect to sell it for, but the broker may wish to use his or her own company. Some brokers offer this service as part of their overall program, so be sure to ask.
3. When the business valuation is complete, you’ll be asked to sign a listing agreement, similar to those used to list a home. There are similarities between the two types of listing agreements, but there are differences also. You may wish to have an attorney review the listing agreement, but this must be done at your own expense.
4. You’ll be asked to pre-approve the marketing and advertising the business broker has developed to Sell My Business. This may include any potential terms offered so be sure to review them carefully.
5. The broker takes over at this stage and handles all inquiries and pre-qualifications steps for potential buyers, including the signing of a confidentiality agreement.
6. When a serious buyer becomes known, a meeting is set up between the buyer and seller. The meeting is designed to present offers and contract negotiations may take place at this time.
7. The broker handles everything from the offer acceptance to the closing of the sale and the transfer of ownership.
Don’t hesitate to make use of a buyer when you wish to Sell My Business. Doing so offers many advantages, mainly reducing the stress of the process. Don’t make the assumption that selling a business is similar to selling a home. There are numerous differences and the broker can not only explain these differences to you, but help you navigate the process which you’ll quickly come to appreciate.
