You have read numerous articles about selling your business. From determining your business’s value to learning how to market the sale properly, you dove deep into articles and whitepapers on the Internet to do it properly. That said, most articles probably share one common piece of advice: hire a business broker. The thing is, do you know how to find a business broker that will help you sell your business quickly and painlessly? There are certain qualities to keep in mind that set a top Houston business broker apart from the rest.
1. Networking/professional connections
At Transworld Houston, our business brokers have a network of buyers and sellers, filtered by industry, business size, and employee count, among other things. This network allows them to search for the right seller/buyer under a pre-vetted process. This means that your business will only be marketed to those who are willing and able to make a good offer. You need to search for a business broker who already has connections. Otherwise, they are no more helpful than the Google search bar.
2. Professional expertise
This goes without saying, but we will say it anyway – you want a broker who has experience. The experience must be in business valuation, marketing, social media, negotiations, permitting, legal contracts, etc. They must also understand your market, type of business, and industry. There is no way that a broker can serve as a liaison between seller/buyer and lawyers if they are not equipped with the knowledge or experience to do so. You must ask for nothing less.
3. Strong financial record
A confident (and equipped) business broker will have no problem sharing their numbers. For instance, the number of successful sales they have effectively advised. This is their resume, and before you hire them, you have every right to inspect it and ask questions. A business broker with a strong record will be able to share wisdom for how well your business might sell, and what you can do to improve your chances.
4. Great personality
Finally, you have to get along with your broker, so they need to have a great personality. The buying or selling process of a business can be a tedious one – with long hours in your broker’s office. Not to mention, a good business broker is handling the day-to-day inquiries and negotiations while you are busy running your business. This means you have to trust and even like your broker, in order to have a great experience.
Nevertheless, the process of buying and selling is one all entrepreneurs must endure. Because of that, it is important to understand the qualities of top business brokers in the Houston area so you do not make the mistake of hiring the wrong one. Of course, we have made it easy for you – contact the knowledgeable experts at Transworld Houston today to start working with one of the best brokers you’ll ever meet!