Attributes of a Business that is Attractive to Buyers
Thanks to our experience handling commercial business sales Covina we know what buyers are looking for. When you come to So-Cal Business Brokers, you can be guaranteed of getting the best deal and selling faster than with any other business brokerage firm in Los Angeles. In our years of experience, we have come to identify key attributes that make a business more attractive to buyers. They include the following.
Just like with real estate, when it comes to commercial business sales Covina, we have come to learn that location plays a major role. Businesses that have a prime location tend to sell faster than those in remote areas. If it is possible to relocate, we encourage our clients to relocate their business before considering a sale. The best thing about having a great location is that regardless of the condition your business, there will always be buyers willing to acquire it for its commercial real estate.
Good asking price
The selling price of a business plays a very important role. Buyers are only interested in businesses whose asking price makes economic sense. Although a business valuation plays a major role in determining the value of a business, the market climate will have a bigger part to play. We know that your business is only as valuable as what the market is willing to offer. It is for this very reason that our business brokers in Los Angeles don’t just rely on textbook calculations in business valuation but also consider the prevailing market climate before setting an asking price.
Seller is ready to take a portion of the purchase price
This boils down to seller financing. Businesses in which the seller is willing to carry back a portion of the purchase price tend to sell much faster. The reason for this is because if the seller is willing to offer seller financing it means the new owner will have all the support he needs to run the business smoothly and the previous owner has confidence in the business. Whenever possible, we encourage sellers to offer seller financing in order to speed up the sale. We will ensure that you earn a good interest too.
Accurate financing information
The worst mistake you can make when selling a business is giving false information. Remember that buyers will perform their own business valuation. If your figures don’t match with theirs you will end up taking a hit. Our mission at So-Cal Business Brokers is to provide you with an accurate and detailed business valuation and present your business in a way that wins the trust of potential buyers.
Business has trained management and employees
Last but not least, when a business has a team of well-trained management and employees, buyers will be more interested in it. We will get you from the daily operation of your business and train or hire a management team. We make sure that your business can run profitably once you leave.