When it is time to sell a business, there are many questions that come to mind. How much is my business worth? How long will the sale take? Will I find the right buyer? Who should I bring on to help with the sale? These are just some of the questions you will find yourself asking more so if you have built your advisory firm from scratch. The good news, however, is you can bring on a business broker for advisory firms Orange County to answer these questions and help with the sale. The broker will also guide you through the steps involved.
Bring in the right team
The first step you have to take when getting ready to sell your business is to bring together the right team. You need to start by hiring a business broker for advisory firms Orange County. This must be a professional that has years of experience selling businesses that are the same size as yours. The business broker will be the one to help determine the potential selling price, help find the parties you need and also help manage confidentiality.
Some of the professionals a business broker will have to work with during the sale include:
- Business attorneys
- Financial planners
- Estate attorneys
In most cases, you will not need to hire these professionals yourself. The business brokerage firm may have the team already in their employ. You will only be dealing with one person.
Find the right buyer
With the right team in place, the next step is to find the right buyer for your advisory firm. It is the duty of a business broker to cast a wider net in order to find the ideal candidate that may be interested in your business. To achieve this, the broker will use his list of potential buyers and his professional networks to find the right buyer. It is also the role of a broker to screen potential buyers based on your preferences. If you want a buyer that will not let go of your current employees, it is the duty of the broker to find that kind of buyer.
The sale of a business involves a lot of negotiations. A serious buyer will not just negotiate on the selling price but also on the terms of the sale. It is very easy for your decisions to be clouded by emotions. That is why leaving the negotiations to a business broker in Orange County is the best way to go. The broker will remain objective throughout the sale and ensure you get the best deal. It is also the work of the broker to help with the paperwork and ensure the deal closes fast.