For owners looking to sell a Denver business, contracting with a broker could result in a higher price and better terms. Absent unsolicited offers, owners put a lot at stake when they pursue an exit. Word of mouth and other advertising efforts could result in loss of key employees, damage to supplier relationships and a resulting loss in value. The right owner may not even be found in the local market. A business broker can help by matching sellers with motivated buyers.
Choosing the right broker is important to ensuring a transparent process and the most profitable outcome, however. An author on the topic of business sales provides a number of tips to help in the selection. For instance, check the broker’s background and standing with the International Business Brokers’ Association before signing a contract.
Owners will also want to watch out for upfront fees and pressure tactics from a potential broker. These are a deviation from the norm and will both cut into profitability and result in unnecessary stress. Choosing a part-time business broker can also result in lost profit from the sale. Dedicated brokers are more likely to match sellers and buyers without compromising secrecy in the sale of a business.
Denver business owners know that their success is often tied to the quality of contracting professionals, such as attorneys, accountants and brokers. An important step in the sale of a business is asking those professionals for referrals and advice in the process. An attorney dedicated to the practice of business law may also be able to help file the appropriate documents, explain the implications of a sale agreement and ensure a smooth transfer of ownership.