Business Broker for Advisory Firms Orange County – Essential Things to Do Before Selling an Advisory Firm

There comes a time when you have to let go of the firm you have grown for years. When this time comes, your top priority is to sell for maximum profit. Working with an experienced business broker for advisory firms Orange County trusts will help you realize this goal. However, there are some additional things you will have to do to sell fast and for the right price.

Know the value of your firm

To set a good selling price, you need to know how much your business is worth. For this, you will need the input of a business broker for advisory firms Orange County depends on. The broker will perform a business valuation that helps you understand your business’ true value and the best selling price. The valuation report will also make you aware of your firm’s flaws. You can use this information to improve your business.

Remove yourself from operation

The best advice you can get when getting ready to sell is to create an enterprise and not a practice. Independent advisors tend to overemphasize the unique value they bring. While this is good, it will be problematic when it is time to sell your practice. Business buyers know that if they buy a firm over-dependent on the owner, its momentum will be lost as soon as the owner leaves. Therefore, as you get ready to sell, focus on removing your name from the firm’s door. You need to train a team to take over your responsibilities, document your systems and processes and ensure the business can thrive in your absence.

Review client demographics

Investors want to acquire a business that will continue thriving years after buying it. That is why a firm with younger clients is more admirable than one with older clients. Younger clients are in the accumulation phase, whereas older clients convert their assets for distribution. As you get your firm ready for sale, focus on acquiring younger clients.

Start today

While it is never too late to develop an exit strategy, the sooner you start, the better. When you have an exit strategy in place, you will be able to know when to sell your firm and the type of buyers to reach out to.

Selling an advisory firm is not as straightforward as you might think. You need the input of an experienced business broker to help you make the most of what you have. Find a broker with a high success rate selling advisory firms like yours.

Business Broker for Advisory Firms Orange County

What Client’s Say

We Couldn’t Be Happier

"When we thought about selling we had no idea what our business was worth or how to go about selling. What you were able to do was to cut through the fog so that we understood the valuation issue and had a comfort level with the process. As you know we ended up selling for somewhat more than the original valuation and we got all cash and our CPA loved the way our tax liability was minimized. We couldn’t be happier!"

Over $250,000 More

"Our first contact with you shocked us when you suggested that we wait 18 months before selling because you believed that if we hit our projections that the value would be significantly greater. As it turned out we not only followed your advice but also got slightly over $250,000 more than we originally had hoped for. It is seldom that we have had the opportunity to deal with a firm that doesn’t want both money and a commitment NOW. It was clear and obvious that you had our best interests at heart."

You Got the Valuation We Agreed On

"You did a great job on the sale of our business in really beating the bushes for buyers, including a UK company that was an active suitor. You managed to get the valuation that we had all agreed upon and got it substantially all in cash and got the transaction closed with little to no problems or expensive lawyers involved."

Thank You for Handling Our Business

"Our business was smaller than what your firm normally handles but it was a BIG part of our net worth and savings. Thank you for handling our business and we were very pleased and delighted with the results."

More Than Anticipated

"Our transaction was involved as we had different corporate entities located in different states. Our only regret is that we didn’t retain your services before 2012 when we paid $25,000 to a firm in Texas that did a valuation and market analysis for us before then failing to do anything in the way of trying to sell our business. You got it sold for more than anticipated."

Know the value of your firm

Remove yourself from operation

Review client demographics

Start today

The Sales Process