Business brokers, sometimes called business transfer agents, offer professional support at a crucial time in your business journey. Using an experienced broker to help you sell your business significantly reduces the pressure on you at this time and allows you to carry on running your business to the highest of standards.
Before searching for a suitable broker, however, you need to consider certain factors. These include, but are not limited to, their experience in selling businesses in your sector particularly, their fee structure, and whether they have a comprehensive database of buyers actively looking to invest.
What is a business broker?
The term ‘business broker’ is sometimes used interchangeably with ‘business transfer agent.’ Business brokers and business transfer agents provide professional practical support and reassurance as advisors to those selling a business.
Our team at Selling My Business are highly experienced business transfer agents with a wealth of experience in completing successful transactions. So to help you decide whether you need a broker to sell your business, let’s look at the benefits of appointing a team such as ours to help you.
- Previous sales and acquisitions experience
- Sector specialisms and average success rate
- Sales value expectations and growth potential
What are the benefits of using a good business broker?
There are many benefits when you choose a reliable business transfer agent, including:
Support throughout the selling process
A good business broker will support you from the beginning to the end of the sales procedure. They’ll provide an accurate market valuation and negotiate on your behalf with potential purchasers.
Multiple marketing channels
Using the services of a professional business transfer agent gives you access to a range of marketing methods that can be targeted to your type of business. An established broker will also have built up a considerable database of business buyers actively looking to purchase.
Affordable fee structure
Business transfer agents typically charge a commission fee based on the value of your business. This could be a percentage of the sale price or a fixed fee. Marketing and advertising fees are also charged but be wary of brokers that demand these fees upfront.
Considerable time savings
Selling a business is time-consuming and can prevent you from running your business efficiently. This is an important consideration at a time when you need it to perform to its full potential.
Efficient service protocols
Having access to a dedicated account manager means you can quickly find out how the sale is progressing, and have your questions answered quickly as they arise.
How to appoint a broker to sell your business
Selling My Business boasts 60+ years of successful business sales and can provide the trustworthy professional support you need when selling your business. We also operate a database of over 10,000 registered buyers and demand no upfront fees.