How to Negotiate When Selling a Business
The method a business broker Brea uses in negotiations depends on an industry. For example, if yours is a business that caters toward industrial services and materials, negotiations will be based on the market fluctuations. The best way to prepare for this is to study trade publications and attend networking events in the industry. Alternatively, you can work with a team that has sold businesses across industries. So-Cal Business Brokers is the perfect choice for this. Our approach in negotiations is unique and guarantees maximum profit. Here are some of the things we will do for you.
Vet the market
As aforementioned, the industry your business is in will influence the strategy that a business broker Brea uses. To vet your market, our team uses economic factors to your advantage. We are involved in the sale of businesses on a daily basis. We understand market trends better. Our research team will dig deeper to understand your market and use that knowledge to get you the best deal in a negotiation.
Make the first contact
The wrong approach when making the first contact with a potential buyer can either leave room for negotiations or simply push the buyer away. Our team will first check the legitimacy of the buyer that is making contact. We also check if the buyer has the means and the will to purchase your business. We only contact buyers whose goals align with yours. After making the first contact, we present a counter offer in a way that leaves room for further negotiations.
Manage your expectations
One thing we have noticed with most business sellers is that they have expectations that are so high that any offer they get sounds like an insult. In addition to helping you get the best deal in negotiations, we make sure that your expectations are not too inflated. While we never act on offers without consulting you, we will let you know when the offer on the table is a good or bad one. It is only with your permission that our business broker Brea will accept an offer.
The top reason why most businesses remain on the market for long is because buyers lack the means to finance the deal. Helping buyers secure financing is one of the tactics we use to get you the best deal during negotiations. We will further assist the buyers to secure the necessary financing so that the deal can go through without delays.
There are a lot of uncertainties in business negotiations. Before you accept an offer, take a step back and give us a call. We can help you know if the deal on the table is the best you can get or you can get better. Call us today for more information.