There comes a time when you have to sell distribution business. This can be instigated by all manner of reasons. You might be too old, too tired of running the business or you are being forced to sell. When this time comes, the best thing you can do is hire an experienced business broker to help with the sale. Our team at So-Cal Business Brokers has the resources you need not only to find the right buyer but also to sell fast and for the best price. But even with our support there are certain things you will need to do. Here are some expert tips to use when selling your business.
Know the value early
Not every business broker will accept to sell your business. Brokerage firms have different specialties. At So-Cal Business Brokers for example we only sell businesses that are valued between $500,000 and $10 million. Knowing how much your business is worth will help choose the right business broker for the job.
When you come to us, we will be happy to help with business valuation and pricing. The best thing is that if we choose to sell distribution business, we don’t charge you for business valuation, market review, packaging and other services most business brokers will charge you for. Our only compensation at So-Cal Business Brokers is the success fee which is paid after closing.
Get your business in order
How your business looks will have an impact on how fast you sell it. For example, if you are using outdated systems and your premise needs work, buyers will get the wrong impression. The same goes for how well kept your business records are. The first thing our business broker will do is ensure that we get everything in order. We understand the importance of perfect first impressions. Cleaning up your business also speeds up the due diligence process. This is because if all your records are well kept buyers will not waste time digging things up during due diligence.
Always prequalify buyers
Most business owners share sensitive information with just any buyer that comes knocking. This is the worst way to go. Most of the buyers you get will have no interest in purchasing your business. They simply want to look around. Our business brokers have been selling businesses like yours for more than 20 years. We know how buyers think and what they are looking for. Consequently, we will be able to prescreen then well in advance before letting them through to you.
There are many more things you have to do when getting ready to sell distribution business. Our in-house team will make sure you avoid issues that may keep you from selling fast and for the best price. Give us a call to find out more.