Member Article

Why use a Business Broker?

If you’re looking to buy or sell a business, then a knowledgeable, skilled broker is an excellent resource to have on your side. However, if you’re unsure as to how they can benefit you, then keep reading: we’ve got together with the guys from Benchmark Business Brokers and come up with these great tips.

Brokers have the connections. As you might expect from seasoned professionals in the industry, business brokers will have access to a wide variety of different connections that they’ve developed over years within their sector. If you’re looking to sell your business, the chances are they’ll know someone who’s interested, and vice versa if you’re looking to buy. It could take you months to find that one perfect customer that they could find in an hour or two.

Brokers will be able to get you the right price. The simple fact is that unless you have experience, it’s tricky to guess just how much a business is worth, let alone to go try and negotiate a price for it. This lack of experience could mean you make a substantial loss on the deal. Brokers will be able to value a business accurately, and might even end up saving you money: it’s seriously worth consulting a professional for this reason alone.

Brokers will offer complete confidentiality. Selling or buying a business can mean risking the possibility of your confidential information being made public – at least to the recipient of the deal. Business brokers are highly skilled in making these negotiations whilst insuring that all of your information remains anonymous. Before using a broker’s service, any potential buyer will have to qualify, and will also be expected to sign a confidentiality agreement – an huge factor in ensuring your information stays under wraps.

It will save you time. As is the case with any seasoned professional, a business broker will be able to save you precious time during the negotiations. Brokers will be able to carry out the necessary work two or three times faster than you could, saving you a great deal of effort and potential stress. They’ll also be able to swiftly deal with any potential buyers and sellers that only end up wasting your time. Essentially, you can lie back and relax, knowing that the deal is being dealt with efficiently and expertly. You’ll be thankful for this over the course of a sale that takes three months!

Brokers are expert negotiators. For anyone who’s buying and selling a business for the first time, it can seriously benefit you to have an experienced broker behind your back. Put simply, brokers have decades of experience in getting the very best prices for their clients, and will likely get you a far better deal that you would otherwise get for yourself. Bearing in mind that within business sales, this difference could be up in the thousands, it’s a point seriously worth considering. Essentially, you’ll be able to get a better price, and do less work. If that’s not worth it, we don’t know what is!

This was posted in Bdaily's Members' News section by Kathryn Thompson .