It’s not uncommon to see “For Sale by Owner” signs in front of homes. Maybe your friend, family member, or even you have sold a home without an agent. It is unusual, however, to find the same sign outside a business.
Why Should I Work with a Business Broker to Sell My Business?
Although bypassing an intermediary may sound nice, there a lot of reasons to sell your business through a broker in the DMV area.
You Only Have One Shot
Like most owners, you probably will only sell your business one time. That means you have one shot at converting a very illiquid asset into the cash that will fund your retirement or post-business life.
Your business may be the most valuable asset in your portfolio, so it is critical to get it right. In addition, most prospective buyers have experts on their side of the table so having a transaction advisor (investment banker or business broker) on your side levels the playing field.
They Have the Expertise
You have become the expert in your business, and you know the years and experience that took. Rather than put in the time and effort to become an expert in every field, you outsource to other professionals. For example, you may have hired CPAs to prepare your tax returns and an attorney to prepare and review important contracts and wills.
This scenario is no different. Brokers can become trusted experts with time, experience, and a consistent track record. And you wouldn’t want to trust anyone less than an expert to sell your business in the DMV area. This ensures you get the most out of your business when you go to sell, especially in a competitive market. By outsourcing, you can devote time to what we do best: running our companies.
You Still Need the Time to Focus on Running Your Company
Another reason that you would want to use a broker to sell your company: the process of selling a business is a lot like a roller coaster ride. Sure, there are a few thrills, but there are also some very scary plunges and hairpin turns.
More on this topic is being written right now!