The Role of a Business Broker
Buying and selling businesses can seem straight forward, especially when looking in from the outside. However, there are many things to consider when doing so, which we covered in our previous blog ‘Understanding the Business Sale Process’.
Your Business Broker becomes your mentor throughout your sale process. Whether you are the buyer or seller, the Business Broker wears many hats. Let us explain:
- Business Brokers represent the seller. They advertise the business, create a business memorandum that encapsulates all necessary business information and present this document to all viable, prospective buyers.
- Their extensive network of qualified buyers is priceless. Alongside other marketing opportunities, your Broker has made hundreds of connections to buyers seeking businesses just like yours through years of work and relationship building.
- Business Brokers maintain confidentiality. They have a vast network of professional contacts, from Accountants to Conveyancers who all work together to achieve the common goal - The business sale, without compromising the business in any way, shape or form.
- A Broker acts as a go-between that liaises with the buyer and seller throughout the sale journey. Their role is the make the process as smooth and efficient as possible, taking a great deal of work off your plate, as the seller.
- They ensure that all legal documents are filled out correctly, representing the needs of both the seller and the buyer. It is important to note that they go through this process frequently, therefore the chance of error is slim. Unlike yourself, who may only undertake one business sale in your lifetime, a Business Broker is a seasoned professional.
- A Business Broker is exactly that, a professional. They can represent parties without emotional connections to your business. They can give honest advice, look at situations objectively and act accordingly.
- The knowledge your Broker has through years of study and experience is invaluable. Their appraisal skills and attention to detail come into play when finding a realistic market price for your business. At Core Business Brokers, we’ve handled a variety of sales in a mix of industries. We have ample strategies to ensure that each business sale is achieved to the best of our ability. When you have a Business Broker you can trust, the process becomes less stressful and more efficient.
- With the help of an experienced Business Broker, you can continue to run your business, without taking excessive amounts of leave to handle the sale process. Less day-to-day impact means the business continues its success during the sale journey.
To have your specific questions answered or to learn more about the role of a Business Broker, contact Core Business Brokers today, on (02) 9413 2977 or click here to email. Choosing a Business Broker you can trust is crucial to a successful sale.
