Read the full article at: www.nfib.com
Business brokers are trained professionals that can help you prepare your business for sale, set the asking price and find the right buyer. Yet, finding the right broker is a big decision.
Here’s a few tips to help you make the right choice:
Trust your gut instinct. Before Stuart Lebovitz hired a business broker to sell his Pittsburgh-based retail store, USA Baby, he searched the web and consulted with his accountant and lawyer. After coming up with a few lead contenders, Stuart asked them some questions, such as what their process is, and how they would come up with a price. He got to know each of them and a sense of whether or not he would feel comfortable working with them.
Get good references. Don Myers wanted to sell his family-owned business, Stu’s Music, which had been in the family since 1936. It was a big decision. Myers wasn’t only interested in getting the right price, he wanted assurance of confidentiality so his employees wouldn’t get wind of it and walk out. References were very important to Don. He followed up with each of them and asked them detailed questions.
In addition to getting to know the broker, their background and their approach to selling a business, business owners should dig deeper. Other issues should be considered, such as a broker’s fees and professional credentials. Read the full article here.
“Few entrepreneurs have the expertise to sell their companies, if and when that time comes. Business brokers can help you get a deal that works for you and your staff.”