Confidentiality. A business broker will protect the identity of the company and contact only owner approved buyers through a blind profile – a document describing the company without revealing its identity.
Business Continuity. Selling a business is time-consuming for an owner, and with a business broker, the owner can maintain a focus on running the business when a broker is working on the sale.
Reaching potential buyers. Business brokers have the tools and resources to reach the largest possible base of buyers.
Marketing. A business broker can help present your company in the best light to maximize the sale price. He or she has an understanding of the key values that buyers are looking for and can assist in identifying changes that can lead to a better selling price.
Valuing your Business. Putting a value on a business is far more difficult and complex than valuing a house. Every business is different, with hundreds of variables that have an impact on the value. Business brokers have access to business transaction databases that can be used as guidelines or reference points. But the best way for a business owner to truly feel comfortable that he got the best deal is to have several financially viable parties bidding for his business, which is much more likely using the resources of a professional business broker.
Balance of Experience. Most corporate buyers have acquired multiple businesses while sellers usually have only one sale. An experience business broker can level the playing field for a business owner making his one and only business sale.
Closing a Deal. Since the business broker’s sole function is to sell the business, there’s a much better chance that a deal will be closed in less time. The faster the sale, the lower the risk of employee problems, customer defection and predatory competition.
Small businesses make up 98 percent New York State businesses and employ more than half of New York’s private sector workforce. Empire State Development’s Small Business Division supports the development and expansion of businesses with under 100 employees – directing an array of programs and initiatives supporting small business growth and helping entrepreneurs maximize opportunities for success. Explore all we offer, plus a custom business checklist of NYS programs and services that match your goals. (Go To Full Article)