Business sale is different from real estate. While the two share some similarities, there are have some major differences. For one, the sale has to be kept a secret with buyers having to sign confidentiality agreements before the identity of the business is revealed. This means blind ads are used. Confidentiality is the main reason why you should work with a business broker for manufacturing companies Orange County as opposed to relying on the support of any other professional such as a real estate agent. There are several other things you need to understand.
Brokers represent you
A business broker for manufacturing companies Orange County is invested in the success of the sale. This is because they only get paid when the deal closes. As a result, they go the extra mile to help you find buyers that are the best fit for your business and buyers who pay top dollar. It is the duty of the business broker to make sure that the sale is kept a secret not just to the public but also to the employees, suppliers, and lenders. Keeping everything confidential helps avoid problems like employee problems, customer defection and predatory competition.
They get paid a commission
As aforementioned, the reason brokers are so invested in the success of the sale is because they get paid only when the sale closes. You, however, need to read their contract carefully to make sure this is the case. Some brokers may include clauses that mean even if you sell on your own, you still end up paying them the agreed commission. In addition to that, you have to make sure that their commission is fair. You can always negotiate better terms with a broker. Keep in mind the commission will be a percentage of the total sale price.
Must have experience selling businesses like yours
The reason you have to be very vigilant when hiring a business broker is to make sure they have experience selling businesses that are similar to yours. If they don’t have any experience selling companies in the manufacturing industry, there is a chance the kind of services they offer will be mediocre. This is because they will not have the professional network in that field. To get the best support throughout the sale, make sure the broker specializes in the sale of manufacturing companies and has sold companies that are the same size as yours.
The input of a business broker will guarantee that you sell fast and for the best price. You only need to make sure that you choose a company with an impeccable track record. So-Cal Business Brokers is a great choice when selling a manufacturing company in Orange County.