So you’ve decided to sell your business – what are your options?

You have decided to sell your business for 1 or more reasons: it could be because you have decided to move or emigrate; you may want to get paid after many years of hard work and retire; Or you may have decided to move to a new company.

Once you have made the decision to sell, you must decide the method you will use to ensure a successful sale.

You only have 2 options to decide –

1) Employ the services of a Business Broker or

2) Sell your business yourself.

Having sold my own businesses privately in the past, and having owned my own business brokerage and sold businesses on behalf of clients, I am qualified to provide an overview of the pros and cons of both methods.

Selling through a commercial broker:

– A qualified broker can help you set the right price for your business to ensure a successful sale.

– Allows you time to focus on running your business and prevent potential declines in billing and profits.

– A qualified broker knows the most effective process to use from marketing your business, screening and qualifying potential customers, and negotiating the sale with an interested buyer.

– The Broker has the necessary documents to qualify potential buyers and conclude a sale.

– Brokers usually charge a 10% commission on the sale price of the Business. This could mean a lot of money coming out of your pocket! You need to decide if you are prepared to give away 10% of the sale price of your business!

– If a Broker in a Brokerage needs to meet your goal, or is low on personal funds, you can pressure them to accept a lower offer for your Business to meet your needs.

Selling your business privately:

– You know your business better than anyone. You are the best person to answer questions about your business. He is also knowledgeable about the industry and can suggest ways to improve turnover and profits. It can also point to future opportunities in the industry.

– You can save the 10% commission charged by the Brokers. The extra 10% could be a substantial amount of money and will go a long way towards your future plans!

Conclusion:

– The reason most sellers don’t sell privately is because they don’t actually know how!

– They don’t know how to best market their Business for sale, how to qualify potential buyers, what steps to follow and what documents are needed. They also know that they will need to spend an unknown amount of money to have a lawyer draft the agreement.

What if there was another option?

– You get a step-by-step guide to selling your business;

– Your business is advertised on a premium site;

– You receive all tracks yourself;

– You get all the documentation to conclude the sale;

– You get access to telephone support and advice from a qualified Business Broker;

– You pay 0% commission!