For many business owners, selling their business represents the culmination of many years of hard work and dedication. Whether the reason for the sale is to fund a retirement or simply to move on to the next venture, sellers need a team of professionals ensuring the most successful outcome. Because selling a business typically represents a significant investment of time (the average business takes 6 months-3 years to sell), it’s crucial to select a business broker who can successfully represent your best interests.
When it’s time to sell, it’s important to look at the following qualifications when choosing a business broker.
1. Marketing Strategy
The best business broker will emphasize finding the right buyer and pre-qualifying buyers over selling a business to anyone with the financing. The best match for selling your business in NJ and the Tri-State Area, will also be a broker with experience selling businesses of the same scope or industry as yours. Understanding your particular industry and having a wide database of potential buyers will go a long way to ensuring a satisfactory sale.
2. Reputation
Past performance often indicates future success. Choosing a business broker through referral and word of mouth assurances are often a better bet than selecting one through other means. If you are checking out a business broker from scratch, make sure to ask for testimonials and referrals. In the case of selling your business, a broker’s experience and integrity is often more important in the long run.
3. Business Valuation
What you can get through the sale of your business is directly related to the value of your business. But who determines a business’ worth? A highly qualified business broker will have years of experience in appropriately valuing a business based on current market and industry conditions. It is better to trust someone who will equip you with a fair market value so you can sell your business in a timely fashion rather than a broker who promises the moon, but then fails to deliver with a buyer.
Our expertise, integrity, and marketing tools ensure we price your business appropriately, identify a qualified buyer, and close the deal. Call us today and we can begin with a thorough business valuation and exit plan.