Common Deal Breakers to Avoid When Selling a Business
The right business broker Glendora has the experience to help you avoid common deal breakers. What most people fail to remember is that finding a willing business buyer is worth celebrating but briefly. There are so many things that a buyer can find out about the business that causes him to pull out. The good news is that our team at So-Cal Business Brokers has sold many businesses and will be able to help you identify deal breakers and help you avoid theme. Here are some of the main deal breakers our team can help you with.
Ambiguous deal terms
Writing an effective letter of intent is tricky mostly because it is negotiated early in the sale before disclosing pertinent information about your business. The letter of intent includes such details as assumptions that are used to negotiate the deal terms, deal structure with the purchase price, timeline as well as conditions. Ambiguous deal terms in the letter of intent are often a deal breaker. Our duty when you hire our business brokers Glendora is to ensure that the terms in the letter of intent are clear, comprehensive and sufficiently detailed to anticipate any future surprises. We know how to sell a business and what buyers think thus the reason we are the best team to negotiate the terms in the letter of intent.
Poor record keeping
This is without any doubt a major deal breaker when selling a business. Even after winning over a buyer, you may still lose him in the due diligence stage when they learn about your poor record keeping. Poor record keeping makes it hard for you to provide evidence that prove you are in compliance with the applicable laws; have enforceable contracts with customers and suppliers and that your financial statements are accurate. Getting your records in order is something we help you do long before we list your business for sale. We guide you through the process of gather records about your business for the last three years and help you present them in a way that wins the confidence of potential buyers. Contact us now and let our business broker Glendora help you perform a pre-due diligence exercise to identify weaknesses in your record keeping and to help you correct the weaknesses.
Misrepresentation of facts
There is no faster way of losing a serious buyer that misrepresenting facts. When a buyer learns that the facts were wrong they will instantly lose trust in you and pull out. Our business brokers in Los Angeles will ensure you only give verified facts. We don’t mislead buyers so as to avoid issues during or after the sale.
Contact us today and let our experienced business brokers in Glendora help you close the deal fast without any issues during and after the sale. We genuinely want to help you achieve a clean and fruitful sale. Fill the form on the right and take advantage of our free consultation.