Secrets to Closing the Deal Fast
When it is time to sell your business the first thing you should do is find yourself a great business broker Hermosa Beach to represent you. You will be spoilt for choice here. At So-Cal Business Brokers we believe we have the best business brokers in Los Angeles. Our team has been selling businesses like yours for more than 20 years and we know what needs to be done to close the deal fast and for the best price. In addition to hiring the right broker, there are a couple more things you will have to do. Here are our top secrets to selling fast and for the right price.
Understand the motivation of the buyer
The worst mistake you can make when getting ready to sell your business is to put all buyers in one group. Business buyers are not all the same. Just because they are showing interest in your business does not mean they have the means to finance the deal or the interest to commit. That is why prequalifying buyers is very important. Our business brokers Hermosa Beach will help with that. Over the years we have dealt with all manner of business buyers. We will be able to let you know if the buyer you are dealing with is a serious one or not. Our team will not prequalify buyers based on their finances alone but also their willingness to purchase your business. We match you with a buyer whose interests align with yours.
Be ready to defend your valuation
Just because you have set a fair selling price does not mean the buyer will take your word for it. Buyers will always want to negotiate. That is why as soon as you list your business you have to be willing to defend your valuation. Buyers will perform their own valuation but their report will not match with yours. This is more so when you consider they will not value the intangible assets the same way as you. Our business brokers Hermosa Beach will help with that. We will perform a valuation for you and help you defend it during negotiations. Give us a call now to learn more.
Keep increasing the value of your business
When the business is listed for sale you still need to keep improving its value. The job of a broker is to take over the sale so that you can focus on the core operations of your business. Don’t get lazy. The value of your business can decline during the sale if you don’t put in the work. Buyers will look at recent sales growth. Make sure your sales don’t decline in the months leading up to the sale as that will scare off buyers.
Be ready for transition issues
Last but not least you have to be ready for the transition. The wrong terms here can cost you a serious buyer. If a buyer wants you to maintain supervisory roles after closing agree. Our job as your business broker is to ensure the terms are favorable.
At So-Cal Business Brokers we genuinely want to help you sell fast, to the right buyer and for the right price. Contact us today to take advantage of our free consultation.