Business Broker Orange County - Tips to Help Hire a Competent Business Broker

Choosing a business broker Orange County to sell your business is not an easy task. It is up to you to find the most competent one. In this post we shall be discussing the main questions you should always ask when hiring a professional to help with the sale of your business.

What is your business valuation process?

Business valuation is so important in the sale of businesses that you must never overlook it. When you ask about the valuation process you need to take note of how the business brokers Orange County answers. Vague answers or generic approaches are red flags and you should simply walk away. Several factors are considered when pricing a business. Know why your broker recommends a certain approach over the others.

How do you protect confidentiality?

The more people know about the sale the harder it will be for you to sell your business. You should ask the broker about their policies when it comes to maintaining confidentiality. When information about the sale leaks you may end up losing employees, customers, lenders and other important people. Competitors may also exploit the opportunity to gain a competitive advantage. The sale of your business must be kept a secret at all costs.

Do you have experience selling businesses like mine?

Hiring an experienced business broker Orange County is important but does he have any experience selling businesses that are similar to yours? If the answer is no then it is not a good idea to work with him. A broker that has experience selling businesses that are similar to yours will also have qualified buyers for your business already in his contacts. He will also be able to prescreen buyers better.

What is your pricing strategy?

Relying on a business valuation alone to determine a selling price is not good. There are so many other factors that affect the price of a business. A good business broker will know how to develop realistic pricing plans in order to attract more buyers and also create deal tension that maximizes the sale price. Knowing how a broker prices a business will help gauge the ability of the broker to help you land a great deal.

These four questions are very important when hiring business brokers Orange County. The key, however, is to hire someone you can trust. Don’t simply hire because the broker has been in the business for years. Hire him because you believe he has the experience and resources needed to help sell your business.

Business broker Orange County