A dream becomes a business only through many years of hard work, sleepless nights and an endless supply of passion. Selling that business can be an agonising choice, which is why choosing a business broker you can rely on for knowledge, guidance and experience (not to mention support) is so important.
The world of Business Brokerage is filled with many different types of specialties, with varying levels of skill and expertise. Your broker could specialise in a particular industry, such as hospitality or retail, while others are well versed in advice pertaining to several areas as an all-rounder. Above all, it’s paramount that you ask the right questions to establish the credibility and expertise of a broker prior to engaging service.
Here are a few examples of essential questions you can ask to find your perfect fit:
How many businesses have you sold?
It can take years of experience to become a successful negotiator. Only through performing many transactions can a broker build up the skill set required to give you a key advantage in negotiations. Every transaction is different, and in a market that changes constantly it is important to be up to speed with the latest legal and accounting policies.
Have you sold a business like mine before?
It is important to use a broker who has had experience in your industry previously and who understands specific situations which may arise in your sale. A business broker who has specific knowledge about an industry will also have a much better grasp on valuations and past sale data. You will receive a far better appraisal from a broker who has sold similar businesses to yours before.
Will I know who has looked at my business?
A good business broker should always run potential purchasers past you before sending them any information. After all, your private information could be the key to your success. You need to ensure it is kept away from competitors and potential tyre kickers. With Nikki Katz, business sellers have free and open access to every buyer inquiry on their business and must approve the buyer before any information is sent.
If you’re looking for a modern, personally handled service with the market knowledge and specialist skills to assist you in one of your most important transactions, contact Nikki Katz!