Do You Know the Broker Who's Selling Your Business?

Do You Really Know the Broker You Want to Sell Your Business?

BY JEFF BACH

he sale of your business

Tis a very personal and important part of your life. From finances, planning, emotional attachments, time and more, selling your business is a big deal for you and likely also for your family. Your business may be one of the biggest assets you own. You should know and be comfortable with the broker that you choose to help you. With modern technology and in post-Covid times, we have become all too comfortable with phone calls, emails, texts and virtual meetings. While all of these are great tools, you will never get to truly know someone without meeting them in person. This is true with the buyer that you will turn over your business to, and even more so, it is true of the intermediary who you choose to help you with the process. There is nothing that takes the place of sitting across the table from someone when you are dealing with important processes. Your business broker should want to meet you and get to know you. That way they know how to best help achieve your objectives in selling your business. They should also commit to meeting every potential local buyer that they disclose to. If they are not meeting buyers face to face, there is no way to assure that the buyers understand and commit to confidentiality. A confidentiality breach can be very damaging to your company. If your business is large enough to warrant it, an out-of-town business broker or mergers and acquisitions expert should be willing to travel. Again, they need to get to know you and understand the geography and nuances of your market. Besides not being effective, handling the sale of your business via the internet only does not work and can cause you a lot of problems. The “cheap” option not only has minimal likelihood of a sale, but opens you up to a host of downside probabilities. A broker should be willing to turn down representing you if they are not the best fit because of location, situation or even personality. Most small to medium sales are local. Having someone close means a lot. Understand what kind of success your broker has had with situations like yours, and what kind of team they have behind them. There are many moving parts to a business acquisition, it takes a professional team, a viable list of buyers, market knowledge and personal commitment to “close” a deal for you. Take your time. Do your homework. Hire a good broker that you would like to work with.

JEFF BACH is a leading broker at Fusion Business Brokers, along with other top brokers in this area. Fusion Business Brokers combines the highest levels of technology, marketing and professional experience for your needs. With access to their large network of qualified buyers, Jeff offers the best opportunity to help you successfully sell your business. He only gets paid when you sell your business. Valuations are free and are the starting point to knowing when it is the right time to sell your business. Jeff can also help qualified buyers find and buy a business that meets their goals. You can contact Jeff for a free, confidential, no-obligation discussion about selling your business or buying a business at 314-941-8530, or by email at jbach@fusionadvantage.com.