Choosing A Business Broker
Choosing a Business Broker
Selling a business requires time, planning and execution. The earlier you can get an experienced Intermediary involved, the better your outcome will be. As with any other profession, the range of skills and knowledge among business brokers varies widely. Though there are unquestionably competent, capable business brokers available to help you with the sale of your business, there are equally those who may not be the right choice. It’s critical that you choose wisely to make sure you are selecting a professional with the seasoning and savvy to help you sell your business.
Ultimately, you want a successful sale, one that is supported by judgment inbusiness valuation, strong marketing insights, the creativity to put difficult deals together, the knowledge to keep those deals together in the face of problems arising during due diligence, and a single-minded focus on creating win-win solutions for buyers and sellers. We can do this for you.
Cookie-cutter approaches don’t work because each business sale is unique unto itself.
But there are certain basic steps that need to be taken to best prepare the business to be presented to the market place:
- Making sure the business has adequate and complete financial records.
- Entrust performing “preliminary due diligence” (like a home inspection before you put your house on the market) to uncover any issues that need to be addressed.
- Scheduling potential no obligation meetings with our strategic partners to uncover additional value in your business (Are key processes documented and repeatable? A re expenses as lean as they can be? Are sales personnel properly motivated, compensated, and sharing in the goals and values of the organization?).
- Constructing an informative and compelling Confidential Business Review (CBR), that is only shared with qualified buyers who have signed confidentiality agreements.
- Developing the marketing plan. Who is our buyer? And what’s the best ways to reach that buyer? Will it be an economic buyer (seeks income)? Strategic Buyer (seeks a complementary fit for an existing business)? Financial buyer (private equity concerns)?
- Preparing enticing and discrete “teaser” ads for various promotional venues.
Entrust is able to offer insights tailored to your situation in order to help you sell your business. Every business has strengths and weaknesses. We will identify the distinguishing characteristics of your business, craft a compelling story, and market it to buyers, helping them understand the value of your business.
Surprisingly, weaknesses can be turned into real advantages when it comes to marketing your business. For an understanding of how this happens, click to read the article “Searching for the ‘Perfect’ Business.”
Our sales process is designed to maximize your return and minimize your hassles. We maintain the confidentiality of your sale by requiring potential buyers to sign confidentiality agreements before we release any identifying information about your business. In addition, we will not release information until a potential buyer provides us with a summary of his/her financial ability to purchase your business. As a result, your time isn’t wasted dealing with unqualified buyers. By the time we bring a buyer in to meet you, you can be sure that buyer is qualified and has a real interest in your business.
Our experience allows us to offer, when necessary, creative solutions to business sales. And our connections with various financing sources can help make the deal go through.