Have You Kissed Enough Frogs?
Selling your business for maximum value can be a long process and is fraught with potential pitfalls. Trying to find a buyer for your business is not unlike trying to find a prince among a sea of frogs!
The days of selling your business fast and walking away on the same day are long gone for all but the very smallest and simplest businesses. For the rest of us there will be an agreed handover period of 6 months or more, working with the new owners, and having to get on!
Finding a buyer that you can work with in a positive way is as important as getting the right price for your business and you’re going to have to kiss a lot of frogs before you find your prince!
Always engage the services of a professional broker. A proprietor who is his own business broker has a fool for a client1. It is an unfortunate fact that most people that enquire about most businesses do not ever progress through more than one or two rounds of the process.
Whittling down the plethora of time wasters to a handful of genuine buyers requires a detachment and objectivity that is virtually impossible for the business owner to maintain, while still trying to run the business and generate as many opportunities to meet potential buyers as possible.
All business brokers that work in a proactive way will charge fees, and these will vary slightly, but this price variation is immaterial to the importance of choosing the broker that you can trust, understands what’s important to you, can work well with, and has your best interests at heart while securing you the best deal valuation from your business exit strategy.
At Vexus Corporate we are used to kissing frogs; it’s one of the most important things we do.