The business broker you choose when it comes time to sell your business plays a big role in the result of the transaction. You want a broker that works with integrity, always has your best interest in mind, and has the expertise necessary to help you with every step of the process. To ensure you get a business broker in New Haven, CT who meets all of these requirements, you should keep these four questions in mind:
What Is the Broker’s Background?
Does the business broker have experience within your specific industry? This is important because they will know the ins and outs of your business and will have the contacts and knowhow to effectively represent your business on the market. Additionally, you will want to make sure they are a credentialed broker. A Certified Business Intermediary (CBI) credential from the IBBA demonstrates that the broker has the education and ethical standards you want in a broker.
Does the Broker Show Interest in Your Business?
When you meet with the business broker, they should ask you a lot of questions about your business. They should want to know the ins and outs of your daily operations, discover why you want to sell the company, and learn what you want to gain from the sale. When the broker fully understands all aspects of your business and the reason for the sale, they will be able to find you your ideal buyer.
What Will the Broker Do to Market Your Business?
You need to know, in detail, what the broker’s plan is to find qualified buyers for your business for sale in CT. You want to know how they will advertise your business, what criteria they will use to locate and screen buyers, what connections they have with other business professionals, and what steps they will take to ensure confidentiality. You want to make sure the broker has a solid plan of action to eliminate time wasters and get your business in the right hands.
How Many Listings Does the Broker Currently Have?
The amount of businesses for sale that your broker has tells you a lot about how they do business. If they don’t have very many, they may be lacking in experience, but if they have a lot, then your business may not receive enough attention. But keep in mind that while the number of listings is a good detail to know, it’s more important to learn what the broker’s selling percentage is. How many of their listings actually get sold?
A lot goes into choosing the right business brokers in New Haven, CT, but when you choose VR Business Sales New Haven, you can relax knowing that we will meet all of these criteria and more. We have one of the highest selling ratios in the industry (~80%), we get to know you and your business in depth, we have over 10 years of experience selling businesses of all sizes, and we always operate with the utmost integrity. To learn more about how we can make your business sale a success, contact us today.