Business Broker in Tampa, FL

 

Statistics continually show having a good, competent business broker increases your chance of successfully selling your business. Typically, expect to sell it for more money than by trying to sell it yourself. For this reason alone you should use a business broker. There are many more reasons why you should use a business broker, specifically The Enterprise GroupLet’s look at selling your business on your own to save the broker commission. What are your major concerns as a business owner when it comes to selling your company?

    •    Confidentiality

There are three groups of people virtually every business owner doesn’t want to find out they are selling their business, their competition, their employees and their customers. If you attempt to sell your business on your own, confidentiality is almost impossible to maintain.

    •    Time

Every business owner I know who has a successful business is busy. If you are busy doing your day to day responsibilities, between work and home, how are you going to market your business for sale? Marketing material has to be prepared, placing, and managing ads on sites that would attract buyers is an ongoing task. How about the time you will spend with prospects who want information about your business? How much time will you waste with tire kickers?

    •   Where are you going to market your business?

A Good business broker knows how to market your business on multiple platforms. The Enterprise Group markets locally, nationally, and internationally. We have multiple sites and platforms to gain exposure for your business. How are you going to determine how much to ask for your company?

    •    Due Diligence:

The due diligence process is daunting at best, but a good business broker can help you by preparing you for due diligence.

    •    Valuation and Pricing:

Most business owners are emotionally attached to their company. In many cases, they are the founder of the company and to them, the company is almost like their child. Unfortunately, the emotional attachment has no dollar value when it comes time to sell. A business broker is looking at the business more in the same way a buyer would look at the business, without that emotional attachment. Part of the valuation taking into consideration what a bank or other lending institution will loan on the business.

    •    Taking your company to close:

During the due diligence process and once an LOI is signed, the bank, the attorneys, the CPA and sometimes others involved in the purchase in one way or another will need information. Whether this is buyer or seller tax returns or other financials, employee lists, equipment lists, Lien releases, a copy of a current lease, copy of the new lease, or any number of other requirements that is needed to close the loan and then ultimately the close of the company. During this process a business Broker acts as a mediator and works with both sides to make sure everything is submitted to the correct person or entity requesting the documents. In many cases, you as a business owner would not be able to do what a business broker does because it wouldn’t be your place.