Business brokers Orange County, also referred to as business transfer agents or simply as intermediaries, have the duty of assisting sellers and buyers of privately owned companies to sell and buy business. Your business broker will estimate the value of your business; advertise it without disclosing its identity and handle discussions, interviews and negotiations with potential buyers. Simply put, the brokers facilitate the sale. Prior to hiring a broker to work with, it is good to start by understanding the type of services they offer.
Assist with valuation
The main job of a business broker Orange County is to help with establishing the most probable selling price valuation. The technique used in business valuation varies. There are many considerations that are made and they are mostly determined by the nature of your business as well as what you wish to sell. The valuation report is further matched with the prevailing market trends. Setting the right selling price is the key to selling fast and profitably.
Buyers will not just take a visual look of your business and make a decision. Their choice is based mostly on the data that they see. What this means is that although your business might look successful, serious buyers will want to view the financial records. Business brokers Orange County take the time to compile a comprehensive Information Memorandum on your company. This document is usually 15 to 30 pages long. It outlines the business for the prospective buyers.
Not every person that comes knocking at your door is serious about buying your business. Some people just love to snoop. These individuals might steal your business secrets and setup their own business that outsmarts yours. It is for this reason that confidentiality agreements ought to be drafted and signed by all potential buyers. In addition to that, your business broker will dig deeper into the buyer to determine if he has the means to buy your business and if he is really a serious buyer. Buyer screening will save you from a lot of headache when selling your business.
One of the main roles played by a business broker is that of marketing your business. This is mostly done using listing sites. The broker will also talk to potential buyers in his professional networks thus speeding up the process. Buyers tend to trust business brokers more than they trust individual sellers.
After the right buyer has been identified, the business broker Orange County will help with the negotiations as well as providing deal structuring advice. The broker doesn’t allow emotions to get in the way. He will remain objective throughout and advice you on the deals that you get.
These are the main types of services that are rendered by business brokers Orange County. Other services may include hourly consulting, providing management guidelines and so on. Make sure that you pick a broker who has been in the business for years. The last thing you want is the support of someone who relies on guesswork to market your business.