The mistake most business owners make is assuming that selling their company is the same as selling their products. The sale of a distribution business is a whole different animal. The process is more challenging, and there are more moving parts than you imagined. That is why involving a business broker for distributors San Diego depends on is the first thing you should do. The broker will guide you through the process and ensure you don’t make mistakes that make it harder to sell.
It is a process
You need first to understand that selling a distribution company or any other business is a process and not an event. You need to spend more time planning and timing the sale before getting your business listed. The goal here is to prepare for your next era away from your business and make sure the company is enticing to potential buyers. You need to put in place a succession plan long before it is time to sell your business. This often requires developing a solid management team and mentoring a successor. A business broker for distributors San Diego trusts will help you know what to implement before the business is listed.
You have to entice buyers
After hiring a business broker, one of the things they will do is find the strengths and weaknesses of your business. The reason for this is to help them come up with a strategy that wins potential buyers over. In many cases, your broker will advise you to offer such incentives as seller financing and agreeing to stay on to help with the ropes. Focusing on the key aspects that make your business unique will help you win over potential buyers. Not offering incentives is why most companies remain on the market longer than others.
It is a team sport
As aforementioned, there are more moving parts in the sale of a business than most people think. That is why you will not be able to tackle the entire sale on your own. For one, you will need the services of a business broker in San Diego. The role of the broker is to help circumvent pitfalls. Second, you will have to speak with your partners and spouse about the sale. Finally, you will also need the services of an accountant, transaction attorney, financial planner, and estate attorney.
When selling a distribution business, the best thing you can do is find the most competent business broker for distributors in San Diego. The broker will guide you through the process and bring together a good team that ensures the sale runs smoothly and closes at the right price.