Who is Qualified to Sell My Business?

Who is Qualified to Sell My Business?

Are you an entrepreneur wondering how to sell your business or looking for a qualified professional to sell your business on your behalf? 

Selling your business can be a significant decision, especially if a substantial amount of your wealth is tied up in it. To ensure a successful sale, it's crucial to select a quality team of industry-familiar professionals that can provide you with the necessary guidance during the process.

One of the most important professionals to engage when selling your business is an experienced business broker. But how do you find the right broker, and why are they necessary? 

Think of it this way: just like you would seek out a specialist if you had a heart condition, you should seek out a specialist in selling businesses. You wouldn't rely on your primary care physician to handle all of your heart health needs, and you shouldn't rely on a real estate broker to sell your business.

To help you choose the right business broker, here are some crucial considerations:

  1. Does business brokerage represent their primary business? Some brokers may have the licensing to sell a business but lack the transactional expertise needed to support a business sale.

  2. How many business transactions does the broker close per year? The number of deals a broker closes is a good indicator of their expertise level and success rate.

  3. Does the broker or their firm have a database of active buyers? Having an existing, local buyers will provide many opportunities to market your business, especially if time is of the essence.

  4. How does the broker market your business? Select a broker or firm that will target specific buyer pools and actively market your business.

  5. Is the broker a Certified Business Intermediary (CBI) through the International Business Brokers Association? This designation shows that the broker has the experience, education, and expertise to sell your business successfully.

  6. Is the broker a member of the International Business Brokers Association and the Colorado Association of Business Intermediaries? Associating with these industry organizations demonstrates higher ethical standards, ongoing education initiatives, and access to a high-level network to facilitate the sale of your business.

Selecting the right business broker can mean the difference between selling your business and closing it down. To learn more about the business sale process, visit our website or schedule a free consultation with one of our brokers today!