Selling an engineering company is a process and not an event. Every business broker for engineering companies San Diego will tell you that success depends on proper timing and planning. If you feel now is the time for you to retire or leave your engineering business, the best route to take when exiting is to work with a business broker. Find a broker that specializes in the sale of engineering companies that are of a similar size to yours. Here are the three key reasons why you need a broker.
Selling is a team sport
As aforementioned, selling a business is a process. There are multiple stages involved and there is no one that has all the knowledge and training to handle every stage of the sale. Working with a business broker for engineering companies San Diego will help coordinate all the parties involved in the sale. It is also the role of the broker to help you find the right help, ensure all the parties are doing the right thing and make sure you close fast.
During the sale of your engineering business, you will need the following professionals:
- Business intermediary
- Your accountant
- A business attorney
- Financial planner
- Estate attorney
Even with the most qualified attorneys, accountants and financial planners, it is the business broker that ensures confidentiality. The broker will also market the business extensively to the right buyers and ensure you close fast and at the best price.
Understand your selling options
The method of sale depends on many factors and each method has its own life and tax implications. For example, if you plan on selling the shares of your engineering company to an employee, you have to structure the agreement in a way that helps you buy back the shares at a fair market value if things don’t go as planned. You don’t want to be held hostage by someone with a handful of shares, do you? It is the duty of a business broker to ensure that you are protected throughout the sale and end up with the best results.
Help with value analysis
Another important reason why you should work with a business broker when selling an engineering company is so as to get an accurate value analysis. There is no accurate way of determining the value of a business. This is because value is in the eyes of the buyer. The work of the business broker is to perform a thorough analysis to determine a fair selling price then go the extra mile to win potential buyers over.
Working with a business broker gives you the best chance to sell fast and for the best price. Refrain from selling on your own. You also need to only work with a broker that specializes in the sale of businesses that are similar to yours.