Business brokers Orange County work with both large and small businesses. Their main job is to make the sale process of a business as smooth as possible. Although hiring an experienced broker is the key to finding a reliable broker, this is not the only thing you should do. In addition to making sure that the broker can take on your business and ensuring he has all the papers needed to do the work, there are a couple of questions you need to ask him or her.
How many listings do you have currently?
The first is on the number of listings that he has at the moment. The number of listings a business broker Orange County has will give you an idea on the amount of time he will be able to dedicate to your business. An individual broker with too many listings might have taking up more work than he can handle and that may lead to problems along the way. On the other hand, if the broker doesn’t have any listings, it might be because his quality of services is not good and business owners are avoiding him. Prior to hiring, ensure the broker has a manageable number of listings.
Will you help with the sales contract preparation?
There is a lot of paperwork that goes into the sale of a business. They include legal agreements and tax forms among other things. The paperwork can take up a lot of your time especially if you don’t know how to complete them properly and you have no idea where to file them. Business brokers Orange County have sold many businesses that are similar to yours and they will be able to draft for you foolproof contracts and file them for you.
Do you have qualified buyers?
Having several qualified buyers means that the sale will be speeded up. This is because the broker will simply present your business to the buyers and avoid the hassle of having to contact hundreds of buyers who might not be in the mood for buying new businesses. All in all, it is good to note that having a large number of buyers is not necessarily a good thing. The fact that the broker has thousands of buyers on his fingertips is questionable. What you need to look for is a broker who has experience selling businesses that are similar to yours. Such a buyer will have a few dozen buyers that might find your business valuable.
How will you manage confidentiality?
Last but not least, you need to learn how the business broker Orange County will manage confidentiality. Keeping your competitors and customers from hearing about the sale is important throughout the sale. Hire a broker who has solid policies in place to help with confidentiality management.