Sell your Business by Yourself or with a Business Broker/Professional
Should you use a business broker or agent to sell your business. The following ten questions will provide some perspective if you should be thinking about ‘going it alone’ or working with a professional to represent your business for sale;
1. Have you sold a business before?
2. Do you know the process of selling a business?
3. Do you know the types of business buyers?
4. Do you value confidentiality- how would you conduct a confidential process if you sold your business yourself?
5. How many potential buyers do you really know, what if a professional knew of 3x+ more potential buyers, would you see value?
6. Do you understand how to qualify prospective buyers as being potential buyers?
7. Are you willing to dedicate 25% of your day or more to selling your business? (what if it took over a year to sell your business)
8. Do you know what a business like yours sells for?
9. Have you worked with tax advisers or lawyers and understand how an expert works with them in selling a business?
10. Selling a business can be an emotional experience, would you gain comfort in having a professional assisting you and to explain what ‘normal’ is when needed.
Thinking about using a professional, go to our article on how to approach a business broker. Please leave a comment or question and let a business broker on Buyertise follow-up with a response. As always please refer to the terms and conditions on Buyertise.