Selling your business, for whatever reason, is a cumbersome process. Going it alone involves many potential risks that can lead the seller to end up giving up their life’s work for a song. In the process of going it on your own, you also risk jeopardising your business’ integrity; losing clients and suppliers along the way. The decision to sell a business does not come easy. It makes sense then, that you should partner with a specialist business broker with an in-depth knowledge of your specific industry and market, an extensive database of prospective buyer networks and connections that deliver the seller’s desired outcomes.
According to BizBuySell, Covid-19 has been the proverbial spanner in the works with business sellers across segments finding it harder to sell. However, those who consult and partner with a specialist business broker have more chances of success than those that do not. Turning to any of the more than 11 411 business brokers in the United States of America (USA) in 3 935 firms (according to IBISWorld) will be the difference between turning a seemingly profitable business into a money pit. Thus, it is important to solicit the services of a broker who specialises in your specific industry. What is the value of getting a dedicated broker when selling your business?
Leveraging industry insights and knowledge
Very deep knowledge of a business sector makes it easier for a specialist broker to value a business accurately, thereby speeding up the sale. They will also be able to provide prospective buyers with key selling points and the business model they would like to acquire. A dedicated broker provides you with industry expertise and knowledge that you will not get from a general broker.
A specialist broker will get the right buyer, swiftly
Finding the perfect buyer is not a walk in the park. But with a dedicated broker, they already have a list of ideal buyers – and he knows how to find them. Essentially, the sales cycle is swifter. Indeed, the seller gets to briskly jump on to their next adventure while the buyer gets their hands dirty by making good on their new acquisition.
Insider knowledge is everything
While insider trading is frowned upon in business and economic circles, insider knowledge is sacrosanct in the specialist business intermediary arena. Why? Because through specialised vendor networks, which the broker is privy to, relationships, such as those with lenders, make it easier for qualifying buyers to access money. A general broker might not be aware of industry nuances and lack the all-important connections that are required to close a sale.
Added value as a perk
All clients appreciate value adds more than the products and services they originally signed up for. These can never be quantified for a dedicated broker because they are always willing to, and can, go an extra mile for their clientele by creating systems specifically to add value to both sellers and buyers.
Sell with ABB for the best results
Atlantic Business Brokers is a specialist business brokerage firm that has been delivering the best outcomes for our buyers and sellers since 2009. We excel at what we do, putting our clients and their needs at the centre. Out ‘putting people first’ philosophy drives us to be innovative; always on the lookout for new ways to better serve our clients.
We are Atlantic Business Brokers first and we have a dedicated broker on our team who will be the right fit for your business and its segment. Turn your life’s work, blood, sweat and tears into cash by selling your business with us. Contact us today!