How a Business Broker Can Help During the Selling Process

How a Business Broker Can Help

When you decide it’s time to sell your Memphis business, whatever the reason, you’re facing a complex and tricky process. Over the years you may have become an expert in the operations and industry you serve, but selling? That’s a whole different league and game. The good news is that business brokers exist specifically to be experts in selling small businesses and helping owners get the most bang for their buck. Learn how a business brokerage can help you in selling a small business for the highest value and the smoothest process.

Selling a Small Business and Value

The first thing you need to do, when planning to sell your business, is to value it. This can be an exceptionally complicated process—there are entire university degrees focused solely on business valuation. Certainly you can learn what you need on your own, but why not keep the effort on the business itself, and let the professionals with expertise and experience come in? They know how to combine industry factors such as supply, demand, solvency and the like with determining your annual income-based value to get the best possible figure for your asking price.

Getting Your Financials Clear

Business brokerage firms can help you to go through your finances and paperwork to make sure that your operations are entirely above board, in the clear and operate with maximum transparency. They can help you address and answer all the questions and concerns that might arise through the process to make sure you don’t hit any money or operations-related stumbling blocks.

Legal Paperwork

Contracts and legal paperwork are a nightmare whether you’re buying, running or selling a business. Brokerage companies know all the ins and outs of how contracts and legal documents work. They can guide you through the process to make sure that things run smoothly, and that you suffer a minimum of stress over the legalese with which you’ve got to deal.

Developing an Exit Plan

You may be surprised to discover that you can’t just sign on the dotted line and walk away. You need to have an exit plan, a means by which you transition ownership from you to the new operators. A broker is an expert at helping you build and develop just such a plan so that when the time comes, you’re good to go.

Focus on What Matters

The most important reason to hire a business broker when selling a small business is that it allows you to focus on what matters: running your business in the closing days. The broker can handle all the complexities and stresses of the sale while you work on making the company worth more money by doing what you do best: increasing your customer base!

If you’re looking for help selling your Memphis area business, don’t wait. Check out our business brokerage services, and get in touch with us for a consultation today!

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