Business Broker In Fayetteville, NC
Are you looking to sell your Fayetteville, NC business or are you looking to buy a business in the Fayetteville area? One of the first steps you will want to take is contacting a Fayetteville business broker.
Fayetteville, NC, located in Cumberland County is the fifth-largest city in North Carolina and its metropolitan area is ranked as North Carolina’s sixth-largest. There are an estimated 27,000 businesses in the greater Fayetteville area.
Motives For Selling A Business
There are many reasons that motivate a business owner to sell their business. Retirement, health, family or simply other interests are just a few reasons that cause business owners to consider selling their businesses.
If you are considering selling your Fayetteville business you should schedule a confidential consultation so that you can learn the business selling process. Typically this process follows a 12-step trajectory that your Fayetteville business broker will share with you.
Many business owners are concerned about privacy and confidentiality and rightly so. Business owners do not want their employees, vendors, landlord or customers to know that they are selling their business.
Your Fayetteville business broker will explain to you their marketing services and strategy. Businesses are marketed using broad and general terms to the public. Only after an NDA is signed do potential buyers learn the specifics of your business.
What is Your Business Worth?
How do you value a business? Do you use a business valuation calculator? What exactly is the valuation of a business? Your Fayetteville business broker will collect information from you about your business.
Businesses that sell typically have good financial books that include tax records, P&Ls, and a current balance sheet. Your Fayetteville business broker will compile this information and compare to comp multiples within your business industry.
Business owners that price their businesses according to an accurate business valuation have a greater chance of selling their business. Your business broker will sit down with you and explain your business valuation so that you can determine where you best want to go to market.
Fayetteville Business Brokers
How do you choose a Fayetteville business broker? While there are several reputable businesses brokers that service the Fayetteville area we suggest the following steps prior to selection.
- Look at their Google Reviews – Are they actually selling businesses and helping their clients?
- Look at the current Listings – Are profitable and successful business owners using their services?
- Look for Longevity – Business brokerages like Transworld Business Advisors have been selling businesses for more than 40 years.
- Look at their team – There is strength in numbers when it comes to choosing a business broker.
- Look for chemistry – Ask for a personal meeting to see if you connect on a personal level.
Buying A Fayetteville, NC Business?
Buying a business can be nerve-racking and scary, especially if this is your first time. Lease agreements, financing options, business financials, business transition and legal implications are all serious concerns.
Your Fayetteville business broker will help you navigate the potential pitfalls of buying a business if you have selected the right one. Choosing a business broker that understands your priorities, protects your interests and points out unforeseen concerns is a huge advocate and ads great value.
Fayetteville has many businesses that are for sale but not all of these businesses are equal in terms of risks, profits and ownership demands. Your professional and knowledgeable business broker will walk with you arm in arm throughout the entire process.
If you are buying a Fayetteville business you should read this free eBook so that you can begin to get your mind around the process.