05 Oct Choosing the Right Business Broker
You’ve finally made the decision to sell your business and now it is time to find the right broker to help you accomplish this. This is an absolutely necessary step in the process of selling your business. The market is unique, and it is completely unlike other transactions. You’ll need an experienced professional broker that knows the ins and outs of the market to help you navigate and find the correct buyer for your business. In today’s post, we will overview the best tips for finding the right broker for your sale.
First of all, the best way to begin your search in order to find the right broker in the most expeditious manner possible, is to limit yourself to the local markets. Unless you find yourself in a unique circumstance, you are going to find a local buyer for your business. Therefore, it is best to find a broker that operates within and has knowledge of said local market to better facilitate the sale of your business.
Another important task to accomplish in order to find the right broker is to speak with their references. Just as you might do before hiring a contractor or making someone a job offer, it is always prudent to ask for at least 3 professional references. For business brokers, you will want to talk with folks they’ve helped buy or sell a business. If they are new to the business brokerage business or have taken a hiatus and can’t supply buyers or sellers as references, in the very least talk to some professionals that can attest to their work ethic, honesty, diligence, and intelligence.
If you’re ready to sell your business, these steps are necessary, and will help you find a broker with years of experience to help execute your sale. A great way to begin this process will be to contact Moche Hazout at Transworld Business Advisors today!