Are you a business owner that has always thought you’d like to get your business to the point you could sell it?
That might be closer than you think!
Would you retire? Would you start another business? Would you take time off now to spend with your family and then consider your options in a year or two? Maybe buy a boat and travel around the Bahamas for a year. Whatever it is, your business might be able to get you that dream sooner than you think.
You are likely so focused on the day to day work that you don’t realize the value you have built up over the years in your company. A professional valuation is a great place to find out the real value of what you have created. It might surprise you.
Maybe you think, “I don’t want to sell now. I want to wait until I have built up more value in my business before I do that.” That might be so, but often with a few simple tweaks, you can increase the value of your business exponentially and immediately, today and for the future.
Is an extra million dollars from your business worth $2k - $6k to you? That is what a professional valuation can do. The first thing you learn is what your business is worth today. The second thing you learn is what you may be able to do in the next 0-24 months to make it worth much more.
If you are thinking of selling your business, it is an important decision often not made lightly. You have likely invested a lot of time and money into growing it to the point it is today. You want to get the most out of it when you sell.
You likely have a few questions how to proceed or maybe you don’t have a clue where to start.
Selling a business can be a huge undertaking but do you need to hire professionals? The quick answer is no, but we can help you out whatever you decide.
One of the biggest reasons people hire a professional is time. Selling a business takes hours of research, requires a lot of paperwork, and dealing with buyers who are not qualified can be extremely time consuming. A business broker should have much of the research already done, does all the paperwork and screens potential buyers to know how likely they are to offer a good deal without wasting your time.
The proper valuation of your business is integral to getting it sold in a timely manner and to the right buyer. A broker will provide this as part of their services, but you can also purchase a valuation separately from a full-service package. This gives you the flexibility to do the sale on your own with the confidence you have the right valuation. A good broker can also produce materials that prove to the buyer the real cash flow of your business and many comparisons to similar businesses that have already been sold.
If the word gets out that you are selling it can be a big hit to your bottom line and as a result to the value of your business. A good broker will put confidentiality at the top of their priority list by asking the buyers the right questions and setting up appropriate steps of delivering information. A broker will want to confirm that the buyer is a serious and a genuine qualified candidate to acquire your company. Your broker should also ensure all public advertising will never reveal to the buyer which company is for sale.
Selling your business can be an emotional experience. Certain emotions can kill a deal very quickly. A broker can act as a buffer between you and the buyer and work with you to ensure certain emotions do not impact your deal. A broker can be the voice of reason and keep both the buyer and seller moving forward during challenging times, giving a better chance of a positive result.
Your broker represents you during the negotiation of the price and terms of your deal. An experienced broker will understand the buyer and their strategy in a way that can help you get to an acceptable deal completed, faster and cheaper.
Often deals hinge on the buyer getting financing. Whether this is creative ideas or working with a lender, an experienced broker will do whatever they can to help a buyer get the money they need to complete the deal.
Brokers are familiar with the problems that often prevent deals from completing on time and/or increasing costs. Dealing with lawyers, accountants, and other necessary professionals to solve problems as they come up is support you can count on from an experienced broker. This can often mean helping the buyer as well as the seller to ensure both parties feel they are getting the deal they want.
If you are in a situation where time would not pose an issue and you can’t afford to lose any of your sale to broker commissions, then you may want to consider selling on your own. It may be in your best interest to hire a professional to at least give you a valuation if you decide to go it alone.
At Business Selling Mastery, a partner company of Gateway Business Brokers, we offer comprehensive education, support systems, and tools to ensure you are set up to successfully walk through the selling process step by step. Our advisors are always just an email or call away. See our complete Business Selling Mastery program here.
You might think that all business brokerages are pretty much all the same but that wouldn’t be correct. Hiring the right firm can mean the difference between a completely satisfying experience and a horror story, not to mention tens or hundreds of thousands of dollars.
Many firms focus on the sale, but just getting your business sold isn’t the only thing you need to be concerned about. We understand that for everyone to be happy the transaction has to be a win/win for both the buyer and the seller.
Our focus is to add more value to people’s lives than anyone. For some, that means doing it all for you, for others it means providing the information and support to do it yourself, and for some it is somewhere in between.
Whatever you determine your needs to be, you can expect us to be there every step of the way to ensure a successful profitable transition.
This balanced advisory approach is for the benefit of both parties, regardless of which side of the table you are seated.
We place a priority on maintaining transparency in the sale and purchase of every business. We honour our duty to hold every transaction in the strictest confidence to protect your privacy and the viability of the sale. Both buyer and seller can expect loyalty and full disclosure from Gateway Business Brokers throughout the transaction.
When you work with our professionals, rest assured the value you receive from us will always be greater than your investment.
Whether it is a full-service brokerage you need or just some help to move your sale forward on your own, Gateway Business Brokers has the tools and support needed to help you create outstanding results.
Gateway really does mean business, which means we do not accept every client looking to buy or sell. We use a proven process to screen potential buyers and sellers for all factors that contribute to successful transactions, short term and long term. Our passion is to add immense value to every business and customer who enter our space. We are dedicated to your success. We know how to keep it simple.
Helping our clients achieve the greatest success possible requires completing a transaction beneficial to both buyer and seller. To achieve that success, we work exclusively with well-qualified individuals, delve into the unique needs of both parties and develop a strategic plan that will help generate excellent results.
Gateway Business Brokers places a priority on open, frequent and comprehensive communication with our clients. We promise to communicate and confirm expectations in a timely and courteous manner each and every time.
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