Selling a business can be difficult and isn’t a simple process to embark upon.  When you sell your business, you are undergoing a very important business transaction that requires knowledge and experience.  Here are the top 6 reasons to use a business broker:

  1. Brokers are motivated to sell for you.  Most brokers only get paid when the business is sold.  Brokers put in time and money upfront to list and market your business on your behalf, but their payday only comes if they bring you the right buyer.
  2. What you don’t know, can hurt you.  A good broker will guide you through the process and answer your questions, removing the unknown and all the anxiety that comes with it.
  3. Setting expectations are important, and may be difficult to grasp on your own. Unrealistic expectations about key aspects, such as the value of the company and the time it will take to sell, can really taint the selling process. This will leave you feeling deflated or just plain frustrated.
  4. Asking price is critical.  Determining the right asking price isn’t easy, the professional valuation services provided through a broker will help you get the price right.
  5. You aren’t a Super Hero.  At the end of the day, you still have a business to run and when issues pop up or there is simply too much to do to keep the business on track – guess what takes a back seat?  Using a broker offloads some of the responsibilities and will save you a lot of time- and did we mention frustration?
  6. Expert experience.  You are an expert in your field, but how many businesses have you bought/sold?  Selling businesses is what business brokers do.  Their knowledge and experience will help from your first meeting through closing the sale.

Using a business broker can be a beautiful thing, but you do need to be careful about who you select to get the job done.  There are many business brokers who misrepresent the industry.  You can check out our related post on how to select a superstar business broker, which includes links to neutral third party sources – or contact us to for more information on why VR Business Sales New Haven is a great choice for those in Connecticut and the Southern New England market.  Reach us by phone at (203) 772-3773 or submit a contact form here.