Advantages to Using a Certified Business Broker When Buying or Selling
Hiring a Certified Business Broker is the first step when it comes to purchasing or selling a privately held company. Here’s why:
Business brokers come in many shapes and sizes but (business brokers have a few qualities that will give you a leg up when buying or selling a business. For example, the best business brokers are:
1) Certified – CBI and M&AMI Certifications
2) Experienced in brokering both sides of a business sale
3) Take the time to get to know your objectives
4) Provide open, honest, professional and realistic feedback regarding whether or not he feels your objectives are achievable.
5) Know how to market a business or find the best business for your needs
6) Experts at valuating businesses and can help point out any red flags during a potential sale
7) Experienced closing deals
Using a Certified Broker When Selling
Some of the benefits of using a broker to sell your business include:
- gaining their expertise in marketing your company to the right candidates,
- benefiting from their experience in valuing your business,
- knowing your financial and other business specific information is being kept confidential and
- being able to maintain the continuity of your business during the sale.
Most business owners have never sold a business on their own. They may lack the knowledge and experience to get the business sold when the time comes – especially in a manner that maximizes their profit while minimizing their risks.
A Certified broker can also use their vast knowledge of various markets to help present your company in the best light to ensure that your company is valued and sold for the maximum price. A sale can be made, all while employees, customers, or clients are transacting with your company. As far as they know it’s — business as usual.
Using a Certified Broker When Buying
Buying a business can be a fun and exciting experience, after all you are about to embark on a venture that can help you realize a goal – be it entrepreneurship, financial or some other personal goal. However, searching for a business to purchase without a broker can lead to wasted time, money and a lot of stress down the road.
Some of the benefits of using a Certified broker to buy a business include:
- A CBI and M&AMI can help you find the right fit.
- He will make it clear what fees, if any, will be involved in the transaction.
- He will answer your questions about the state of the business and help you obtain all the financial paperwork for you, or your CPA to review.
- An experienced broker will have successful bought and sold many other businesses.
Normally, the seller pays the broker’s fees, but some deals are not structured to industry standards. Your business broker should disclose any fees for which you will be responsible. In addition to any fees, the financial state of the company in question will also be disclosed. Your broker can help you obtain all the companies financial so that you can do your own due diligence. They can alert you to potential pitfalls, steer your towards a business that is ideal for you and help you successfully negotiate the purchase of your new business.
Cress V. Diglio, Florida Business Broker
Whether you are looking to buy a business, sell your business or merge with another business, Florida Certified Business Broker Cress V. Diglio has the experience to assist you in all facets of the transaction. Call Cress today for complete transaction support and expertise, 888-984-4208, or visit https://floridacertifiedbusinessbroker.com.