WHY DO I NEED A BUSINESS BROKER?

• 08 Jan, 2019

The answer to this question is very SIMPLE; A business broker provides a meaningful, valuable and professional experience through the ENTIRE process!

Understanding how hiring a business broker proves beneficial can be the difference between a successful or unsuccessful experience. At East Coast Business Brokers, we pride ourselves in making sure that each one of our buyers or sellers are given the utmost attention at every step of the process. A few ways in which having a broker can benefit the buying or selling process include but are not limited to their  business valuation expertise, their ability to remain confidential in all areas, marketing and advertising, vetting of qualified buyers, protection amongst others.

When it comes to evaluating a business it is necessary to have the expertise that can only come from hiring a business broker. Business brokers are well versed in an array of methodologies that can guide the seller towards the best possible asking price. It is obvious that the goal of any seller is to receive the most monetary compensation, however, overpricing will reduce the amount of inquiries coming from qualified buyers.

Before any buyers can take a look at the business/entity for sale, marketing and advertising need to commence. This is an extremely important strategy in getting a business bought or sold in a timely manner. Having the experience of a business broker can reduce the anxiety that comes along with what websites are best to advertise on or what ways in which you should word certain marketing pieces. Maximum exposure for a listing is the ultimate goal, therefore, with marketing database knowledge, a business broker can ensure proper and increased exposure for your listing.

As the marketing begins to take off, the business broker will now be able to begin to evaluate and obtain qualified buyers. A qualified buyer is one in which has gone through the proper protocol to register, sign a non-disclosure agreement and has provided proof of funds for review. Once all is completed, the broker will then have a conversation with that buyer to ensure that experience level is high enough for the area in which they are looking, as well as their future plans for the business are on track with the plan. Once a qualified buyer is vetted, a broker can offer their expertise in the field of negotiating and process monitoring. It is imperative that you have a broker who is well versed in all the policies and procedures that follow when the next stage of a sale is being made. At this stage, an owner is enveloped in the running of the business as successfully as possible so they do not have the time to invest in this area.   One of the many reasons hiring an experience business broker from East Coast Stores is your best bet!

At the end of the process when qualified buyers have been found and have decided to go to the next stage of the selling process, sometimes they need additional assistance inn the overall purchase. If an owner does not provide financing or have the knowledge to assist the potential buyer in finding small business loans or ways in which to obtain additional funding, that sale might not prove fruitful. With a business broker involved, there is a database of financial institutions already available that work alongside East Coast Business Brokers already and are able to assist the buyer in moving forward. Having this stress removed from the buying process is another way in which an East Coast Business Broker can ensure a seamless, meaningful, valuable, and PROFESSIONAL buying/selling experience.

Overall, when you make the important decision to buy or sell a business, hiring a business broker, especially one from East Coast Business Brokers, is the only way to go. When buying anything, having the expertise to support your journey will reduce anxiety and stress while increasing the potential for your future to continue to be successful!