Corporate business brokers are essential for the successful sales of businesses. They are not the same as mergers and acquisitions specialists but often these two areas overlap.
This is the case with Tim Luscombe, financial consultant and Thames Valley Business Advisors member, who works with businesses on projects from simple transactions to complex mergers and acquisitions.
He is aware that some people believe that hiring the services of a corporate business broker is not a necessity and this is true, but only to a limited extent. A corporate business broker offers services which property agents and solicitors won’t, and they protect the client’s interests.
They are experienced, conversant with proceedings and potential issues, so they will ensure the smoothest experience.
An incontrovertible fact: Property sales are complicated.
Ensure that you have someone on your team who protects your interests; a corporate business broker could be one of the wisest investments you make during the sales process.
When considering whether to use a corporate business broker, please evaluate these 5 points:
- Seller protection.
You might be a first-time seller, inexperienced and nervous, but the purchaser may be a seasoned buyer and you can be confident that they will do all that they can to protect themselves. They will exploit any weaknesses or work to a timeframe that suits them and not you. You need an equally, if not more, experienced advocate working for you.
- Buyer searches.
Not every potential purchaser will be the right fit. They vary in strength, from financial capabilities, to intentions about what to do after the sale and even to seeing the transaction to completion. Allowing a corporate business broker to search for relevant and viable buyers is vital. Without their advice you may accept the first offer presented. You shouldn’t have to.
- Business marketing.
Your information needs to reach the right people and enterprises, and this is a matter of effective marketing. Professionals know how to make your business an attractive, promising venture for your potential buyers.
- Business valuation.
Do you feel confident about the true value of your business as you sell it? Often, the value is underestimated in-house. A corporate business broker utilises data and experience to ascertain what your business is worth in the current market. This significantly reduces the risk of sellers accepting a low offer. Don’t be cheated by opportunist buyers; know the facts and figures.
- Transactional management.
There is no easy how-to when selling a business. From marketing to negotiations to closing the deal, an expert is imperative. They guide clients through the process, counter issues and ward off possible problems. Think of a corporate business broker as a sale safety net. From the start to transaction completion they’ll ensure that you get the best possible deal.
Unless you enjoy working in unfamiliar knowledge areas, enduring stress, headaches and mountains of confusing paperwork, a specialist like Tim Luscombe should be sought at the first opportunity.
He’ll make valuation, marketing and selling effective and he’ll protect your interests.