Business Brokers – How to Find a Right one

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If you want to sell your business, a fine business broker can find you great deal. All you need to know is below:

A time may come when you would want to sell the business which you have built and raised. There is no doubt that you would like to get the best possible price for all the years of your hard work, sweat & blood. You decided to partner with right forces to raise your business. Now make sure to do the same when you try to sell it. And the best way to make it a sure thing, is to work with an experienced Business Broker who is specialized in selling businesses.

A fine Business Broker is someone who, along with managing listing, finds out the price of a business efficiently, has the knowledge about market’s ongoing situations and gets in touch with buyers. Business Brokers can and should be able to sell your business at 20-40 percent more than you could sell on your own. They do all the homework and efforts for you to sell you business in the market successfully.

There are two types of sides about examining the Business Broker thoroughly. What should you ask them and what should they ask you. When you get to interview an expert Business Broker, he should be able to properly answer the below questions:

  • How long have you been Selling Businesses?
  • How many and of what industries businesses have you sold so far?
  • What are your client’s testimonials?
  • How do you find and qualify buyers?
  • What is the ratio of your closing?

 

After the Business Broker has asked you the questions about your business, then you can tell a lot about that Business Broker. Specially, by their questions you can get idea if they are actually interested in selling your business. The below questions will also help you to know that what qualities is this Business Broker looking for in your Business.

How’s your Company Brand?

The more your brand sounds good with customers, the better your Company looks to this Business Broker, and then off course it increases the chances for you to get a better sale price. An intelligent Business Broker will make sure that what type of loyalty does your company have, Location loyalty or Brand loyalty? And as we are talking about selling businesses, Brand loyalty always wins.

Are You the Business?

If you yourself are running the business alone with very few or no employees at all, buyers may not be interested. Because, once you have sold the business and gone, all you expertise walk out the door with you; so does the business. Buyers are interested on buying a complete business not a profession.

How Finely Rooted is Your Customer Base?

Buyers always want a great number of customers and what’s there to blame? If the revenue which your company generates depends on a couple clients, then it puts the bottom line at risk in the occasion that one or two walk out the door. You / your company is always better off with a greater number of clients (whether selling business or not). Diversified Clientele makes buyers feel like they are buying a great solid company with great branding.

How many Revenue Streams do You Company has?

Having more than one way of making revenue at company is a positive which always attracts potential buyers. It also helps you to make profit through the days of market instability. Hard times can dry up the profit stream, that’s why having another or couple other ways of generating revenue in business is a big plus.

Is Your Company Fiscally Fit?

Before selling your company, it is recommended that you do a complete financial housecleaning. Having money in the bank and having fine source of income is not enough if your account / books are messy and you are unable to justify your company’s profit. Potential buyers will take a deep and closer look to find the dust bunnies beneath your books and it may disturb the deal.

 

CBC Business Brokers Sydney

Level 34, AMP Centre, 50 Bridge St, Sydney NSW 2000

T: 1300 661 498

W: www.cbcbusinessbrokers.com.au

E: info@cbcbusinessbrokers.com.au

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