How to Select the Right Business Buyer; Don’t Just Consider the Price
There is nothing more exciting in commercial business sales Bonita than receiving an offer to sell your business. This often feels like you have won the lottery. The feeling is even better when the offer is higher than what you expected. Having sold many businesses before at So-Cal Business Brokers we have come to learn that the best buyer is not always the one offering the highest offer. This is more so because when you pick a buyer the pendulum of power moves to the buyer. Your ability to negotiate will be reduced significantly as you support and defend your price. This is why before you select a buyer we recommend you consider the following factors.
Your financial exit goals
In order to accept an offer you must first consider your financial exit goals. You need also to bear in mind that the offer will also settle transaction costs, debts and taxes. In most cases, the initial offer by a potential buyer is the highest possible price you will get from him. The offer may also go down when due diligence uncovers reasons to reduce the price. When you know your financial exit goals then you will know how low you can go.
Our team will help understand the actual value of your business, how much you can expect to get for it in the current market and also help you know when the best offer is on the table. Our primary job in commercial business sales Bonita is managing your expectations and ensuring you get the best deal possible.
Determine if the buyer will close the transaction
The worst thing about selling a business is that most of the offers never lead to anything solid. Some buyers will give you an offer just so you can allow them to perform due diligence which in turn helps them spy on your business. When you work with So-Cal Business Brokers this is something you never have to deal with. Our team prescreens buyers thoroughly to ensure they have the interest and financial means to close the transaction. We will further help you find a buyer whose interests align perfectly with yours.
Assess your readiness to move on
Last but not least you have to make sure you are ready to sell. You don’t want to waste the time of buyers by dropping the deal in the last minute simply because you don’t feel okay with letting go of your business. Our team will always make sure you are selling for the right reasons and at the right time.
Never qualify a buyer simply by the offer he gives. Our team will review other important factors that determine if you are dealing with the best buyer. Take advantage of our free consultation today and talk to one of our experienced business brokers in San Diego.