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Can You Sell Your Business Without a Business Broker?
August 7, 2007
Brokers aren’t essential when selling your own small business. In fact, it's possible to handle the sale of your business yourself and save the broker's commission, but you have to do it the right! If you have a buyer in mind, such as an employee or relative, and you feel comfortable working on the sale of your business yourself you will be able to accomplish the sale with your current accountant and a lawyer.
Because no one knows your business better than you, despite whether or not you hire a broker, you’ll end up having to do a lot of the selling work yourself. Potential buyers will have questions that no one can answer better than you. Thus, the buyer and seller of a business, unlike the buyer and seller of a house, will almost always meet.
Alternatively, there are several benefits associated with using a broker. One of the major advantages of having a broker is that it allows you to concentrate on running your business until the sale goes through. Having a broker manage the sale of your business also allows you to keep the pending transaction under wraps. This can prevent potentially alienating your customer base, employees, and other important business relationships.
When looking for a broker to help sell your business remember to do your homework when finding the right broke—some are better/worse than others.
Posted by Shanu Singh Guliani on August 7, 2007 | Comments (0)
