The condition and potential of your company aren’t the only factors that matter when you initiate the process of selling your business. You also need an effective, committed, and strategic business broker to help you make a sale.
The wrong broker will let your business sit on the market for months or years without results. Use the following tips to find the best broker to handle your sale and help you move on with your life.
Choose a Broker With Specialized Experience
Selling a business requires nuance and experience. Even a talented and proven broker could have trouble achieving success in a new industry. In order to increase the speed and price of your sale, select a business broker with a history of experience in your specific industry or niche. This ensures your broker is well-versed in what is needed to sell your restaurant, construction company, or medical practice.
It’s also important to select a broker with enough experience in your geographic market and price range. Without in-depth and personal knowledge of your local area trends and demand, your sale may fall flat of your expectations.
Search Using Professional Resources
Google isn’t the only resource at your disposal! Be sure to use the many professional resources that make it easy to find legitimate, qualified, and recommended business broker professionals:
- Referrals from legal and financial professionals
- Chamber of Commerce
- International Business Brokers Association (IBBA)
Ask All the Right Questions
Interview each broker on your list of possibilities before selecting your final choice. You should ask a list of questions that give you insight into each broker’s processes, goals, and requirements. The answers you receive may eliminate a few from your list immediately or quickly identify “the one”.
- How will you keep me apprised of interested prospects and the transaction status?
- Will you handle all aspects of my sale personally, or will an associate be assigned to my account?
- What are your contract and commission terms, and are you willing to negotiate?
- What similar sales have you completed in this area recently?
Taking the time to select a highly qualified business broker will pay off when your business sells quickly and for top dollar. Call (813) 750-0275 today to speak with a broker at Tampa Business Broker and discuss your unique needs. The team at Tampa Business Broker is committed to advising, appraising, and advancing your buying and selling objectives.