Why You Should Use a Business Broker
It allows you to concentrate running your business instead of trying to figure out how and where to advertise for buyers and get thru the process. We already know the process. We know what to expect and what to do next.
It provides credibility to your asking price. We know how to calculate the business value based on industry and market standards, but also based on our experience in the market. The price and the information we provide to the buyer are educated parameters.
We know where and how to promote your business, including email blasts to the over 4,000 people in our opt-in database. We also know where to advertise and how to do so confidentially so people don't figure out which business is for sale.
We create a buffer between you and people who inquire on the business. We can qualify them and protect your confidentiality. We only release information to people that have signed a non-disclosure agreement to protect your business
We have all the forms and templates based on selling multiple more businesses over our history of being business brokers.
We attend all the meetings and negotiate the deal. (Not every broker attends meetings, especially internet-based brokers.)
We help coordinate all the paperwork involved to facilitate the transaction, which is often a 2 step process.
We help the buyer find financing. We know that not every bank is a good option.
Finally, we attend closing, make sure everything goes smoothly and congratulate everyone involved.
We are very hands on. There are several things that can derail a business acquisition, on both sides. It helps to have a mentor to ask questions of or to know what options there might be. We are personally invested to make sure it's successful as it is the only way we get paid.
Should you expect to provide seller financing?
In most cases, we are against seller financing. New SBA rules lowered the down payment requirement from 20% to 10% in January 2018. For most businesses and buyers, the buyer will put down 10% and finance the rest. However, certain scenarios, businesses or industries do lend themselves for the seller to provide some level of financing. We can discuss what would cause it and why in some cases, it may be to your advantage.