How to find the best advisor when selling your business
Do-it-yourself home repairs have definitely had their moment in the sun. But for anyone that has paid attention to that trend, it quickly became apparent that having an expert remodel a home offered a considerable advantage in terms of the quality of the work. The same holds true when it comes to other big tasks, such as selling your business. Sure, no one knows the ins and outs of your business better than you do, but that isn’t the same as understanding what it takes to market your business correctly, vet potential buyers and, ultimately, get the best deal.
So, if you have made the big decision to sell your company, how can you find the best broker or advisor to help you take the next step? When interviewing brokers for this vital role, here are three things to consider that allows you to continue doing what you do best: running a successful business.
The type of advisor you need
What’s the best way to start your search for a business broker? Start narrowing your search by focusing on advisors that can help by delving into the details of your business and preparing you for sale. Not only does this require a thorough knowledge of the process of how to sell a business, but it also demands an extensive professional network that might be interested (and able!) to purchase your company.
Want a business advisor that can meet those three criteria? As detailed below, a Transworld of South & West Texas advisor should be your ultimate choice because our experienced professionals offer all those skills and more.
The size of the business advisor
You have probably heard a lot of opinions regarding the size of a business advisor — smaller ones offer personalized services, and a larger company has a broader marketing reach. Transworld of South & West Texas truly provides the best of both worlds as a franchised business: The feel of an individualized, local broker with the support of a more prominent corporate-like firm.
A few benefits of Transworld of South & West Texas’s reach include the more than 300,000 potential buyers in their database and the ability to organize your company’s financials pre-sale. These are just some ways Transworld of South & West Texas stands out among business advisors due to its franchise status.
The credibility and success of the advisor
You’ve thought about what kind of business broker you need and determined what size firm meets your Goldilocks’ “just right” needs. The next factor to consider is your potential advisor’s credibility and past success. The top issue is whether the advisor will keep your business’s sale confidential. Suppliers, employees, and even customers can react with concern when they learn of a business’ sale, impacting your ability to maximize your profits.
Speaking of profits, you want to enlist the services of a business advisor known for getting their clients the best possible price for the sale of their business. Whether you plan to use those funds to retire, start another venture or something else, selling for top dollar matters. Transworld of South & West Texas has sold more than 15,000 businesses, proving we have the experience and reputation you are seeking.
Finally, when interviewing, be sure to ask potential advisors these questions:
- What industries does the advisor serve? Transworld of South & West Texas has brokers who have the resources to market companies in a range of industries successfully. Our professionals have sold businesses in every sector, meaning all our advisors have access to the broadest internal expertise.
- What’s their process from start to end? How long should it take?
- What are their fees?
- How many of their transactions have been successful or unsuccessful?
Deciding to sell your business is an exciting and stressful time. At Transworld of South & West Texas, our advisors are some of the most sophisticated and experienced in the industry. Our Business Advisors have the training and know-how to help ensure you get the best deal. Schedule a free consultation today to get started.