When selling your business, you have two options:
- Sell your business yourself
- Hire a business broker
While it’s possible to successfully sell your business on your own, hiring a business broker often guarantees a quick and painless sale.
Unlike many small business owners, brokers have years of experience in selling small businesses. They know what works and what doesn’t, making them extremely helpful when handling tasks such as business valuation, advertising or marketing, prospect interviews, negotiation, due diligence, and other critical aspects of the sale.
Hiring a broker also allows you, the owner, to focus on running the business and increasing its value while the broker handles the details of the complex transaction.
If and when you decide to hire a broker, make sure you properly vet your options, as having a quality broker can mean the different between a successful business exit and a long and costly sale.
Whether you are choosing a new broker or deciding if your current broker is right for your upcoming sale, here are six key areas you should address: