The 10 best pieces of advice a business broker can give to a retiring business owner looking to sell their business
1. Don’t underestimate the value of your business – A business broker can help you to establish a realistic asking price for your business, based on its current value and future potential.
2. Get your ducks in a row – Before putting your business on the market, make sure that all legal and financial documentation is in order. This will make the sale process much smoother.
3. Choose the right time to sell – Timing is everything when it comes to selling a business. You need to ensure that you are ready, both emotionally and financially, to take this step.
4. Don’t do it alone – A business broker can be a valuable ally in the sale of your business, providing advice, guidance, and support throughout the process.
5. Know your buyer – It is important to have a good understanding of who your potential buyers might be so that you can tailor your marketing strategy accordingly.
6. Get expert help – When selling a business, it is essential to seek out professional advice from solicitors, accountants, and business brokers.
7. Don’t be afraid to negotiate – Never accept the first offer that comes in – remember, you are in the driving seat and can set the terms of the sale.
8. Be prepared to walk away – If a prospective buyer is not meeting your expectations, don’t be afraid to walk away from the deal.
9. Be honest – Be upfront about any issues or challenges that your business is facing. Honesty is the best policy when selling a business.
10. Have realistic expectations – Selling a business can be a lengthy and complex process, so it’s important to have realistic expectations from the outset.
If you’re thinking about retirement or selling your business, working with a broker is a great option. They will help you navigate the process from start to finish and ensure that you get the best possible price for your business. So if you’re ready to take the next step, contact a broker today.
A business broker can provide valuable advice and guidance throughout the process of selling a business
A business broker can provide valuable advice and guidance throughout the process of selling a business.
This is especially true for those who are not familiar with the process of selling a business.
A business broker can help to determine a fair price for the business, as well as negotiate on behalf of the seller.
Additionally, a business broker can provide advice on the best way to market the business and can help
to find potential buyers.
Penny Papaioannou has over 30 years experience as a business owner and has spent the last 15 years as a business broker advising sellers and buyers in business transitions. Her expertise ranges from selling retail, manufacturing, service sectors and health care businesses ranging from $250,000 to over 10 million in sales price. After a successful career as a top producing business broker, Penny started Atlantic Business Brokers, LLC
Your business deserves to get the right buyer at the right price. Let us leverage our extensive expertise as premier business brokers to get your business into the right hands. Get in touch with us today!
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230 Kings Hwy E #133. Haddonfield NJ 08033. Office: 800-859-8386. Cell: 856-524-5178. www.atlanticbusinessbroker.com