Business brokers Orange County make it easy for you to sell your business for a profit. The problem is there are so many brokers out there that you have to consider. The majority of them will not help you achieve the goals you are looking for. In this article, we will be focusing on the steps you ought to take when searching for the right person for the job.
If you are hiring a business broker Orange County for the first time, you must never ignore the option of getting referrals from people who have used brokers before. Get referrals from trusted sources such as your lawyers, accountants, industry associations and peers. They will provide you with the names and contact information of some of the best business brokers in your area.
Check the IBBA
Another thing you need to do in the search for a business broker is the International Business Brokers Association. This is a non-profit trade association of business brokers that provides conferences, education, networking opportunities and professional designations. There are more than 1000 business intermediaries across the group on IBBA. Making use of this association will point you in the right direction to the best brokers in your region.
Whether the referral came from the IBBA or from your attorney, you must never commit without due diligence. Just like a potential buyer of your business will dig deeper into the history of your business, you must also do the same before hiring a broker. You need to start by taking a look at the experience, credentials and the background of the business broker Orange County. Check for lawsuits or any complaints against the broker. Are the negative reviews acceptable to you? The Better Business Bureau will further give you more information on the practice of the broker. You should also ask for references and investigate individual references. It is also a good thing to make sure that the broker you are considering has handled sales of companies that are similar to yours.
Settle for dedicated practitioners
In the market today, you will be amazed by how business brokers Orange County work. Some double as real estate agents and only handle the sale of businesses as a part time job. Yes it is good for a business broker to have a real estate license especially if you will be selling the business together with the property it sits on but that broker should focus solely on the sale of businesses.
The right business broker should be able to keep a secret. The last thing you want is for you to lose key suppliers and staffs simply because word got out that you are selling the business. Your broker should be able to maintain confidentiality throughout the sale process.
These points will help find a good business broker Orange County to work with. Even so, you need to be wary of the fraudsters. Steer clear of brokers who ask for large upfront fees, those that pressure you into signing the contract and those that never offer a marketing plan.