Selling your business is one of the most important decision in your life. The decision to sell is a difficult one since it involves a lot of emotions that can prevent you from rationally analyzing your situation. We strongly advice business owners to seek professional help. Please understand that selling a business is a very sophisticated task. A business sale process has to be followed strictly so that the business doesn't suffer from the sale.
Confidentiality is an extremely important factor when selling a company. If the word goes out that the business is for sale, employees worry about they job security and might leave the company. Clients doubt that the quality of service and consider other suppliers and even suppliers might worry about getting paid and might reduce their payment terms.
These are some of the reasons you need professional help to sell your business. Business brokers only reveal your identity to qualified business buyers who have the capability and motivation to purchase your company. Unfortunately, Statistics have shown that in North America, 90% of business buyers never buy a business in their whole lives. Business Brokers spend tremendous time and effort interviewing potential buyers so they can focus on the serious ones who can buy. Moreover, Brokers have the experience and knowledge to present your business at its best light and to select potential buyers whose personalities and work expertises will make enable them to make your business even more successful after purchasing it.
Finally, successful business brokers have the marketing power and the connections to confidentially advertise your business and generate hundreds of leads of potential buyers to work with. It is generally not prudent for the seller to sell their businesses themselves for the following reasons:
It's very difficult to maintain confidentiality:How would you recognize a competitor who has no intention to buy your business but is only trying to get vital information about you and your business.
Selling a business is extremely time consuming. The sale process without professional help can divert you from your core business and cause to lose money or miss business opportunities.
As a business owner, you are probably very emotionally attached to your business. Buyers ordinary comments such as " you are asking too much for your business" or " you are the business, the business is not worth much without you: will probably hurt your feeling s and cause you a lot of frustration and could even be a deal breaker.
marketing a business for sale requires a lot of expertise that takes years of experience to accumulate and most sellers lack these marketing skills.