Top 10 List of Reasons Why you Should Use a Business Broker to Sell your Business

Blog Layout

OConnor Business Insights

Top 10 List of Reasons Why you Should Use a Business Broker to Sell your Business

Brad OConnor

Apr 21, 2021

Selling a business can be a challenging, time-consuming, and overwhelming process for business owners; thankfully business brokers are here to make the process as simple as possible for you! Yes, there is a cost when using a business broker but only when your business sells, and the result will be a quicker sale and a higher return on investment.

There is an endless list of reasons why hiring a business broker is a great idea when you are looking to sell your business. Here are the top 10!

1. Great Market Understanding

An experienced business broker will have worked with business owners from all industries and sectors, and will understand the nuances of your market. This deeper understanding will give you useful insight into the process of selling your company.

2. Marketing Skills

Marketing a business is a skill that requires expertise and finesse, and a business broker will come equipped with all the tools and knowledge for you to bring your business to market in an effective way.

3. Price

Listing your business at the right price is crucial. A price that is too low will cost you money, while a price that is too high may lead to no sale at all. Seasoned Business Brokers will be able to provide you with a market valuation, and offer you tips on how to increase the value of your business, and to maximize your return on the sale of your business.

4. Middle man

Emotions can run high during a business transaction, so it is imperative to have a business broker acting as the intermediary. Buyers and sellers also need to work closely together after the transaction to finalize all the details of the sale, which can get stressful. Having a Broker involved to manage any tensions that may arise is a very smart idea.

5. Show off all your best angles!

Business Brokers know how to present your business to interested buyers in the most appealing way, by focusing on the positives, while being forthright about the flaws and presenting ways to make corrections and improvements.

6. High quality profiles

If a buyer is interested in buying your business, they will be required to sign an NDA which will allow them to view a confidential business profile about your business. A business broker will prepare a high-quality business profile to entice your potential buyers.

7. Buyer Screening

Your business may attract a lot of interested buyers. A business broker will screen potential buyers to eliminate those who are “just looking” or who have an insufficient budget, saving you the time and energy of going back and forth with someone who is not committed.

8. Less Paperwork – Need we say more?

Selling a business involves a HUGE amount of paperwork and time. As a business owner, you already have a lot on your plate and do not need to fill your days with any more paperwork. Hiring a Business Broker to manage all the documents allows you to keep your focus on your business, so it can thrive until you find a buyer.

9. Confidentiality

Selling a business requires a great deal of discretion and confidentiality. Business Brokers are able to effectively present business for sale opportunities to potential buyers without breaking confidentiality, and are familiar with the world of NDAs, helping you navigate with ease.

10. Peace of Mind – We’ve Got You!

At the end of the day, you have a lot on your plate, and being able to work with a business broker that you can trust will offer a peace of mind like no other – that you and your business are being taken care of through every step of this transaction.

Are you ready to get connected with one of our experienced Business Brokers? We cannot wait to help you!

< Older Post Newer Post >

EVALUATION/CONSULTATION

If you are a business owner considering selling a business, and would like to learn more about OConnor Business Brokers and Consultants and the services we offer, please contact us to arrange a confidential business evaluation.

You will meet one of the Directors of OConnor Business Brokers, and your requirements will be discussed. During the meeting you will have the opportunity to find out more about selling a business, and how our business brokers and M&A Advisors can assist you with the business sale process.

Unlike many other approaches, OConnor Business Brokers start without any preconceived ideas about what is right for you and for your business. By understanding the business and your motivation we can help steer you in the right direction. This often challenges conventional thinking and comes as a refreshing change to the norm.

The Directors of OConnor Business Brokers have experience as business brokers, business consultants, M&A advisors, and business owners. We understand the challenges and pressures that face a business at any one point. We therefore use our time together not to try and sell you our services but to help you understand your options and how we can help.

An initial meeting lasts approximately one hour, and can take place virtually or in person at our office.

Evaluation and Consultation Request

Unraveling Business Goodwill: The Unseen Asset in Enterprises

By Brad Oconnor • 01 May, 2024

Unraveling Business Goodwill: The Unseen Asset in Enterprises

What is M&A? (Mergers and Acquisitions)

By Brad OConnor • 17 Nov, 2023

Mergers and acquisitions (M&A) represent essential corporate activities that present an opportunity to reshape industries, transform companies, and drive economic growth. Keep reading to learn more about what M&A is, and to gain a better understanding of its concepts, processes, significance, and how a business broker can help.

What is a Business Worth? Approaches to Value (Introductory)

By Brad Oconnor • 06 Oct, 2023

When it comes to assessing the worth of a business, the valuation process can be both intricate and multi-faceted. Understanding the value of a company is crucial for various purposes, such as mergers and acquisitions, investment decisions, or determining a fair selling price. This blog post will outline some common approaches to value, including the benefits of utilizing a business broker, and some of the methods used to determine a business’s actual worth.

three people learning about business brokerages

Debunking the Myths of Business Brokerages

By Brad Oconnor • 11 Aug, 2023

Myth or Fact? Read on to Learn More About Business Brokerages and the Common Myths Associate With Them

Business Assessment: Due Diligence Explained

By Brad O'Connor • 16 Jun, 2023

Due diligence is a crucial part of buying and selling businesses, but what exactly is involved? In this article we’ll take a deep dive into the process, to help get you started. First things first, what exactly is due diligence? Simply put, it is a thorough review of a company’s financial records, legal issues and market positioning before the acquisition takes place. The process typically starts once the buyer has found a business that they’re interested in purchasing, but before any definitive purchase agreements are signed. This extensive research process helps to avoid any unpleasant surprises for either party after the deal is complete.

Man stares at laptop screen contemplating definition of Business Broker

What is a Business Broker, Anyways?

By Brad O'Connor • 27 Jan, 2023

What is a Business Broker? How are they different from a real estate agent? Learn what a Business Broker is, what does, and some crucial differences between their job and a real estate agent, as well as some other information to help you know if you need one to sell or buy a business! (Hint: you do!)

Map of Manitoba, Manitoba Provincial Nominee Program (MPNP)

The Manitoba Provincial Nomination Program (MPNP)

By Brad O'Connnor • 28 Oct, 2022

Are you considering immigrating to Canada, and would like to buy a business? Well, the MPNP program might be what you are looking for! The Manitoba Provincial Nominee Program (MPNP) is the immigration program for the province of Manitoba, and it offers three streams, each with their respective pathways. Keep reading to find out more!

How Important is Cash Flow of a Business to be Purchased?

By Brad OConnor • 08 Feb, 2022

When it comes to business, the old adage that “cash is king” still holds true. If you are considering buying a business, do not make the misstep of paying more attention to its profit statement than its cash flow statement. Otherwise, you might make a mistake that you will soon regret because so-called “profitable businesses” go bankrupt every day. Why you ask? Because they did not have the cash flow needed to sustain their operations. Here is why knowing a business’s cash flow is so important before purchasing it.

Boosting a Business’s Value Via Strategic Acquisitions

By Brad OConnor • 26 Jan, 2022

A Brief Guide Alphabet (Google’s parent company) had a market capitalization of less than $200 billion in 2005. This figure rose to about $274 billion in 2006, just a few months after acquiring mobile software developer Android for $50 million. Today, Android is the most popular mobile operating system, and Alphabet has a market capitalization of about $1.95 trillion. Undoubtedly, Android has been instrumental in Alphabet’s growth. It is also one of the best examples of how a business can boost its value through strategic acquisitions. Here is a brief overview of how any business (including yours) can do the same. How Can a Strategic Acquisition Boost a Business’s Value?

Should Sellers Care About Financial Ratios Before Selling?

By Brad OConnor • 25 Jan, 2022

As a business owner, you work hard to start, establish and grow your business. However, there may be a time when it makes sense to consider selling your business and move on to other business opportunities. It would be best if you made several considerations before enlisting the services of a professional business broker to find a buyer for you. One of the essential aspects you should consider as you put your business up for sale is financial ratios. Financial ratios constitute crucial business data that will factor into the sale of any business.