When it is time to sell your business or make a decision on selling you need to bring in an experienced business broker Orange County. The main duty of a business broker is to manage the process so that you sell on time, sell at the right price and don’t make mistakes. The broker has experience selling businesses that are similar to yours and will be able to help you close fast and for the best price. Some of the key benefits you can expect to get from working with a business broker include the following.
The hardest part when selling a business is maintaining confidentiality. You want as few people as possible to learn about the sale. The problem is when selling on your own buyers will always associate you with your business. Keeping the sale a secret will be difficult. This is where business brokers Orange County come in. They are not linked in any way with your business and use tested strategies to maintain confidentiality. For example your broker will prescreen buyers, require them to sign an NDA and disclose information about your business sparingly.
Valuate your business
Business valuation is important. It is what enables you to know how much your business is worth. It also gives you the information you need to set the most accurate asking price. Business brokers will perform a business valuation for you not only by using textbook calculations but also relying on research and considering other factors. The broker will also present several recommendations that help increase the value of your business significantly.
Recast financial statements
Business owners usually prepare financial statements for tax purposes. These statements will not cut it when selling a business. A business broker Orange County will recast your financial statements to present the real profitability and earning power of your business. Recasting considers your expenses to determine non-essentials or unnecessary business or personal expenses that are paid for by the business. The objective is to maximize financial presentation and make the business more attractive to buyers from a financial perspective.
Negotiate for sale
Business brokers are master negotiators. They have dealt with all manner of business buyers before and they know what buyers are looking for and what they think. Business brokers are thus able to put together a more desirable financial package with maximized return. What is more is that is that the broker will manage the negotiation process so that emotions don’t get in the way.
The advantages of working with business brokers are innumerable. You just need to find a broker that has a proven track record of successfully selling businesses like yours.