Not all business owners consider the option of working with a business broker San Diego when selling their business. They believe since they built the business from the ground up they can easily sell it. What they fail to understand is that selling a business is not the same as running a business. A lot of work is involved. Handling the business sale and running the business can be overwhelming. This is not to forget about the emotions that get in the way. If you want to sell fast and for the best price, you will need to bring in a reliable team. In this post we shall be looking at the top professionals you should bring onboard before you list your business.
Business brokers
Business brokers San Diego are without doubt the first professionals you should hire. This is for the simple fact that business brokers have sold many businesses before and understand the process better than you. What is more is that they have the time and resources needed to handle the sale on your behalf while guaranteeing the best results. The best thing about working with business brokers is that they know what buyers are looking for and will be able to prep your business in a way that lures more buyers in.
Yes working with a business broker is an added expense but the expense will be worth it. Brokers get paid on commission and you don’t pay them until the sale is concluded. You, however, need to read through their contract to ensure you are not getting into something you will regret later. You also want to hire a broker that has experience selling businesses that are similar to yours.
Transaction attorneys
Transaction lawyers will help with due diligence and prepare and negotiate the asset purchase agreemet or the stock purchase agreement and all ancillary documents like promissory notes, bills of sale, secretary and officer certificates, resolutions and meeting minutes of shareholders, directors, managers and members. The main role of a transaction attorney is to help with the legal side of things during the sale. Hire an experienced attorney.
Accountants and financial consultants
You will also need to hire financial consultants and accountants before you initiate the sale. These professionals will be invaluable when structuring the deal and when thinking about tax consequences. They will also help with business valuation.
These professionals are a must have. The best thing is that most business brokers San Diego work with transaction attorneys, accountants and financial consultants in-house. This means you have a single point of reference. You, however, need to make sure that the brokerage you are hiring from has these professionals else you will have to juggle multiple firms throughout the sale.