The business broker San Diego you hire must be the one that specializes in the sale of businesses that are similar to yours and one that has a remarkable success rate. This is not all the information you need from him. In order to get the best results when selling using a business broker, here are the most important things you need to do.
Know your expectations in the broker
Long before you sign any contract with business brokers San Diego it is imperative that you discuss and convey your expectations to him. Having a direct and open communication about your expectations and other issues with the broker is critical before hiring. You need to make sure the broker can meet your expectations and that he is comfortable working with you.
Ask how the broker will market your business
Another very important thing you need to do is know how the San Diego business broker will market your business. How will he advertise your business and get the word out without compromising confidentiality? A good business broker will not just use online listings but also promote your business to buyers already in his database as well as use reliable avenues to give your business maximum exposure. Don’t hesitate to ask why a broker prefers a certain marketing option over another.
Get a valuation before signing the listing agreement
It is imperative that you have your business broker determine the valuation of your business before you sign the listing agreement. How well he is able to value and price your business will determine how reliable he will be throughout the sale. The best business brokers San Diego will not charge you for business valuation, market review, packaging and pricing. You only pay a success fee after closing. You should avoid any broker that asks for an upfront fee that is too high.
Know how the broker will maintain confidentiality
The sale has to be kept a secret if you wish to sell fast and get the best price. Ask your business broker how he plans on maintaining confidentiality. Some methods used include advertising using blind ads, using teaser documents, prescreening potential buyers and requiring buyers to sign non-disclosure agreements.
Ensure the broker will keep you in the loop
Last but not least you need to make sure the business broker San Diego will keep you in the loop throughout the sale. Constant and continuous communication is very important. It helps you know if things are moving in the right direction and at the right pace.