When selling a business, your chances of success multiply significantly when you work with a broker throughout the entire process. A broker knows the best practices and will work to get you the best deal on your business. Continue reading for a few tips on how sellers can get the most from their business broker and increase their chances of selling to a reputable buyer.
Before hiring your business broker, it’s important to find out information about them and how they will market your business. Choosing the right broker is a crucial decision, and you want to be sure that you are working with a company that has a great reputation. Ask potential brokers detailed questions about their plan to market your business, their process of finding buyers, and how they will present the information about your business sale.
Ask About Payment
Unfortunately, some business brokers will charge more than you expect after finalizing the sale of your business. It’s essential to do your research and find a brokerage that is upfront about their costs and won’t charge you any hidden fees. At Atlantic Business Brokerage, we work fully on a commission basis and only get paid after we sell your business– if we are somehow unable to sell your business, then you owe nothing. We don’t believe in hidden fees, upfront charges, deposits, marketing costs, or any other forms of payment. We don’t believe in nickel and diming clients- our only objective is to sell your business with your best interests in mind!
When selling a business, it’s very important to have reasonable expectations about how much you will sell for. If you expect too much of your broker and demand an unachievable price, you will be setting yourself up for failure. Discuss the price and value of your company with your broker to ensure you both have a clear understanding of the price range you are looking for, and the process will go much more smoothly! Throughout the entire selling process, it’s essential to have many open and honest conversations with your broker to get the most of out their services.
Sell With Atlantic Business Brokerage, Inc.
At Atlantic Business Brokerage, our mission is quite simple; we help sellers sell businesses, and buyers buy businesses! Over the past 30 years, ABBI has facilitated the sale of countless commercial properties, businesses, and franchised locations. With our unparalleled knowledge of the business purchase and sale industry and our network of contacts, we offer services to both buyers and sellers that no other brokerage firm can match.