Business broker San Diego is the first person you should hire once you make up your mind to sell your company. This is the person who will protect you from the wolves once you put your business on the market as well as manage your expectations. The right business broker will further help with marketing, business valuation and so much more. Prior to hiring a San Diego business broker, there are a number of questions that you need to ask him. Below are the top questions.
How many listing do you have?
It is obvious that you want to sell your business fast. The only way of doing this without compromising on the selling price is using business brokers San Diego who uses several marketing channels. This is because for your business to sell fast, it must be seen by as many buyers as possible. All in all, you have you have to wary of brokers with large listing.
Having a large number of listings may simply mean that the broker is taking on every listing with the hope of being able to sell one of the businesses in time. This is not the broker you should be working with. When searching for a good broker, you need to focus more on one with between 3 and 7 active listings. Having more listing will mean that your listing will not get as much attention.
Will you help with the sales contract preparation?
Making up the decision to sell your business and finding the right broker are not the only things you need. There is paperwork to deal with. Most of the documents are very sensitive. If you are selling for the first time, you need to work with the broker that is willing to help you with the sales contract preparation. He should be willing to assist you with the drafting of all the legal agreements and must have experience with the different ways of structuring deals. At times, business brokers San Diego will advise you to hire an independent legal team that will help you review the documents before signing them.
You can use your broker in the preparation of the contracts. You should then hire a good independent lawyer to help you review the documents before you sign them. The small legal expense will save you a lot of headache.
Have you sold businesses that are similar to mine?
This is a very important question you need to ask a business broker San Diego before you entrust him with your business. More often than not, when the broker has never sold a business that is similar to yours, he will end up wasting a considerable amount of time in research. He might even end up handling the transaction poorly. That is why the best San Diego business brokers to work with are those who have handled businesses that are similar to yours.
These are the prime questions you need to ask a business broker before bringing him on board. You must also make sure that he signs a confidentiality agreement and asks all potential buyers to sign the agreement before sharing sensitive information with them.