The Value of a Business Broker
My clients, small and micro business owners, are very careful with their money. To earn their business, service professionals have to prove their value.
When selling a business, a competent and knowledgeable business broker can make the transaction easier for both buyer and seller and help the seller get a better price.
When selling a home, a real estate agent helps you prepare for getting the best price – they know what else is on the market, what a reasonable price is and what you should fix up before going on the market.
A business broker does the same thing for a business. Before marketing the business, brokers review and clean up the books. Often small business owners spend a lot of money on (legal) things that improve their lives, but aren’t really necessary for the business (cars, cell phones, high salaries for family members, insurance). A good broker will work with the business owner and the accountant to “recast” or “normalize” the books to show how profitable the business is.
They will know what makes the business distinctive and attractive to buyers. They will know the best time to market it and have connections with potential buyers. They are a great intermediary between the lawyers, the parties, the lender and the landlord.
In short, the value of a good business broker is to help your business put its best foot forward.
If you need a referral, please contact me.