Should I Hire a Broker To Sell My Business In Arizona?
The Benefits Of Using An Experienced & Certified Business Broker In Phoenix
You have relied on the professional guidance of your Arizona business attorney to operate your business, minimize your liability, and meet all your legal obligations. If you are thinking of selling your business, your Phoenix business attorney will draw up the right documents to ensure a smooth sale while also protecting your rights and minimizing your liability. But, in addition to your business lawyer, you should also work with another professional: a business broker.
A business broker operates similarly to a real estate agent, except instead of helping you sell your house, the broker will help you sell your business. A skilled broker will help market the sale, connect with potential buyers, and guide you through the sales process.
Some business owners may balk at the idea of using a broker to sell their businesses. After all, they may think, they know how to market the business themselves (that's how they got to be successful in the first place) and they have an experienced business attorney to guide them through the legal process. So what else do they need?
A lot. A business broker brings a special skill set and experience to business sales that you will not get through your day-to-day business dealings. You need a professional whose only job is to buy and sell businesses to help you sell your business quickly and for the most money. You'll get many benefits from working with an experienced business broker.
Promote Your Business To Potential Buyers In a Confidential Manner
You will end up disclosing a lot of information while you are trying to sell your business. A lot of that information may detail how you do business, or what kind of profits you make or debts you have. That is sensitive information that your competitors can use against you or that may harm your reputation with customers. Some of it may just be secret information that gives you a competitive advantage, and your business' future can be compromised if it gets out.
A business broker can ensure that potential buyers get this information while it remains confidential from the larger public. Buyers get the information they need to make the right choice, but your business is protected for future success.
Qualified Financial Analysis & Business Valuation
Determining a fair sales price for your business is subjective. It may be hard for you to have the appropriate objectiveness to determine the right sales price. Many business owners tend to overvalue their property because they are thinking about all the hard work they have put into it and all the potential they see in its future. However, some business owners will undervalue their business because they are too close to it.
An experienced business broker can provide a sound business valuation so you get the best price for your sale. Your business broker will perform a qualified financial analysis that will help buyers evaluate your business and understand why it is worth every penny you are asking for it.
Business Brokers Will Help You Locate The Best Buyers For Your Company
Finding buyers for your business is going to be a lot harder than you might think. You need to get your business in front of the right people, not just in front of as many people as possible. Your business broker will help you do that. Your broker will ensure that your business appears in the right places so that you attract the highest number of qualified buyers without having to spend unnecessary money on ads or listings that will not get the results you want.
Negotiation Assistance Throughout The Business Sale
You have likely learned a thing or two about negotiation in the course of running your business. But a business broker has extensive experience and training specifically in the buying and selling of businesses and can enhance your negotiations to help you get the best price in your sale. You are a little too close to the business as the owner, so you may not prove as effective in negotiations over it. A business broker will be able to get better results on your behalf.
Your Business Broker Will Handle The Due Diligence Process
Once you get an offer on your business, the buyer will undergo a due diligence process that involves investigating the legal, operational, and financial aspects of your business. When you work with a business broker, you can hand off the supervision and management of this process to your broker. You'll be able to focus your efforts on the day-to-day operations of your business and on transitioning to your next endeavor.
Working with a business broker can make every step of the sales process for your business go easier and be more effective. A broker can get your business in front of qualified buyers, help you get the best sales price for it, and guide you through all the legal processes. If you are thinking of selling your business, contact an experienced business broker in your area to learn more.
Phil Reese is the Arizona business broker that Phoenix residents trust. Phil Reese is a certified business intermediary who has been helping people buy and sell businesses in the Phoenix area for the last two decades. Call the Scottsdale or Phoenix office today to schedule a consultation and learn more about how Phil Reese can help you sell your business quickly and for the best price.
Written By Brad Denton
Gunderson, Denton & Peterson, P.C.
Mesa Location:
1930 N Arboleda #201
Mesa, Arizona 85213
Office: 480-655-7440
Fax: 480-655-7099
Phoenix Location:
40 N Central Ave #1400
Phoenix, AZ 85004
Phone: 480-325-9937