If you have reached the point where you feel it is time to sell your business, the best person to talk to is a business sales broker. Gold Coast company Hallmark Business Sales have decades of experience and have brokered the sale of hundreds of businesses. They are like real estate agents for residential properties, but instead, they focus on selling businesses instead of houses. Of course, you can try and sell the business yourself, but will you be able to assess the company objectively, then put a reasonable price tag on it?
Chances are your view of what the business should go for will be skewed. Seeing as your blood, sweat, and tears went into making it a success, you will naturally feel obligated to ask a little more.
In reality, you need to set an accurate price that will keep buyers interested. Failing to do this will result in seeing your business on the market for way too long.
How do you choose a good business sales broker?
1. Always Look For Experience
Nothing can substitute experience, especially where selling a big business is concerned. If the business sales broker doesn’t have enough experience, you are creating unnecessary risk for yourself. You create the risk of asking too little, or you simply will not see or hear from any buyers.
That means you should be looking for a broker who knows the business inside out, and they should be able to prove it with a number of years they’ve been helping people like you.
2. Utilize Consultations
While you might feel confident after doing a Google search, don’t ever accept it as enough. It is simply impossible to judge a broker’s ability simply by looking at their site.
Instead, utilize the free consultations. Meet the business sales broker face to face, and make appointments with two others as well. That is the only way you’ll be able to make a constructive comparison between them unless you have made use of their services before.
3. Get Clarity
It is one thing to meet with a broker, it is something else to get some clear and straight answer. Basically, you want to avoid a broker that can only generalize. A reluctance to give you a straight and detailed answer can indicate they don’t really know what they are doing, or they simply aren’t interested in helping you.
You want a broker who can break down the selling process step by step. When you leave their office, you should be in the loop on how they are going to take the sale further, and how they plan on getting buyers.
Selling a business doesn’t happen overnight, but it is not realistic to wait several years either. An experienced and quality broker will take every sales opportunity with urgency. They will also stay in contact with you regarding updates and whether a buyer has shown interest. They may even suggest things you can do to get your business in great shape such as hiring an online marketing consultant to get your online assets in order.
At no point should you be left wondering what’s going on, and when something is finally going to happen?
Whatever you do, don’t take the sale of your business lightly. Get the right broker the first time.