Should You DIY Your Business Sale?

The truth is that there’s no single answer for everyone, and there are a few instances where a DIY transaction might make sense. In most cases, however, your best bet is to contact a professional.

Benefits Of A DIY Sale

If you’re planning to sell your business to someone you know, you may be able to handle the majority of the transaction on your own. In doing so, you’ll save money on broker commissions. You can also have more control over the entire process. You get to create your own terms and put yourself in a position to be more involved throughout the transition process.

Selling With A Professional

Business brokers are experts in the sales and acquisition process. Your professional knows the market, and they are experienced in research and negotiations. Importantly, your business broker can also help you put the right value on your business so that you aren’t short-changing yourself.

Other benefits of selling with a business broker include:

• Access to their network. Your business broker will have a network of potential buyers, including other business owners, strategic investors, and those looking to break into your industry.
  
  
• Confidentiality. A business broker can also help you sell your business confidentially. This is crucial if you want to start the process without alerting your employees, competition, or customers. Not letting the potential sale leak before you want it known can help to ensure smooth business operations and avoid customer and employee panic.

• Due diligence. Business brokers are also highly experienced in helping you manage the complexities of the due diligence process. This might involve anything from letting your potential buyers know all of the numbers to answering questions truthfully and thoroughly.
  
  
• Closing. Your broker will ensure that paperwork is in place so that the business sale is finalized according to the right terms. They’ll also ensure that transfer of ownership takes place without a hitch.
  
  
• Marketing. Your broker can help identify the right buyer persona and market to this effectively. They’ll help you create targeted materials, including your business profile, so that the business can be listed in the proper marketplaces.
  
  
• Buyer screening. A business broker can help weed out unqualified buyers so that you don’t waste time or miss a viable opportunity.
  
  

With more than 70 office locations across North America, First Choice Business Brokers has the reach, experience, and local expertise to help you value, list, market, and sell your business. Contact us today to experience all the benefits that a professional business brokerage has to offer.