How Do I Choose a Business Broker to Sell My Business?

Selling a business for maximum profit is a result of years of persistence and dedication and the dream of most entrepreneurs. However, selling for a high price is not easy especially if you are not in a hot industry. You can, nevertheless, maximize chances of selling for maximum price by enlisting the help of a business broker in San Diego. But business brokers are not all the same. So the question you might be asking yourself is this; how do I choose a business broker that is right for my business? In this post, we will be taking a look at the key steps you should take to find the best business broker.

Get referrals

The best source of information about a business broker is people who have used the service. To narrow down your list to the best brokerage firms in your area, you need to get referrals from trusted sources. Accountants, peers, lawyers and industry association will give you the names and contacts of the best brokers in the region.

Use the IBBA

The International Business Brokers Association is a non-profit trade association. The association offers networking, education as well as professional training through conferences. It is one of the best resource to use when you need help on how do I choose a business broker. With IBBA working with over 1,000 business intermediaries across the globe, you will most likely find the local broker you are looking for here.

Due diligence

Referrals and the IBBA will provide you with a list of promising business brokers in your area. The next step is to narrow down to the most qualified brokers on your list. Start by reviewing the background, credentials and experience of every broker on your list. The key is to settle for qualified brokers that have sold businesses that are similar to yours in the recent past. Avoid any broker that has pending lawsuits against them. The Better Business Bureau can help investigate a broker further.

Stick to dedicated practitioners

Selling a business is a full time job. You have to keep marketing and meeting up with potential buyers. A lot of work is involved thus the reason you should outsource to a business broker. However, to get the best support, you need a broker that works full-time selling businesses. A part-time broker will only disappoint you.

These are the key steps you should take when searching for the best business broker in San Diego to sell your business. Always avoid brokers that require a large upfront fee and the ones that keep pressuring you to sign the contract. Only work with brokers you feel comfortable interacting with.

How Do I Choose a Business Broker

What Client’s Say

We Couldn’t Be Happier

"When we thought about selling we had no idea what our business was worth or how to go about selling. What you were able to do was to cut through the fog so that we understood the valuation issue and had a comfort level with the process. As you know we ended up selling for somewhat more than the original valuation and we got all cash and our CPA loved the way our tax liability was minimized. We couldn’t be happier!"

Over $250,000 More

"Our first contact with you shocked us when you suggested that we wait 18 months before selling because you believed that if we hit our projections that the value would be significantly greater. As it turned out we not only followed your advice but also got slightly over $250,000 more than we originally had hoped for. It is seldom that we have had the opportunity to deal with a firm that doesn’t want both money and a commitment NOW. It was clear and obvious that you had our best interests at heart."

You Got the Valuation We Agreed On

"You did a great job on the sale of our business in really beating the bushes for buyers, including a UK company that was an active suitor. You managed to get the valuation that we had all agreed upon and got it substantially all in cash and got the transaction closed with little to no problems or expensive lawyers involved."

Thank You for Handling Our Business

"Our business was smaller than what your firm normally handles but it was a BIG part of our net worth and savings. Thank you for handling our business and we were very pleased and delighted with the results."

More Than Anticipated

"Our transaction was involved as we had different corporate entities located in different states. Our only regret is that we didn’t retain your services before 2012 when we paid $25,000 to a firm in Texas that did a valuation and market analysis for us before then failing to do anything in the way of trying to sell our business. You got it sold for more than anticipated."

Get referrals

Use the IBBA

Due diligence

Stick to dedicated practitioners

The Sales Process