What Is a Business Broker: Why Is Selling My Business Hard?
Selling a business is far more complex than listing it on a marketplace and waiting for offers. When I talked to business owners who are selling a company for the first time, they often underestimate the steps involved. Many things are misunderstood, from valuing your company and preparing detailed financial documents, to confidentially marketing your business and negotiating with potential buyers. That's where a business broker comes in. In this article, we'll break down: The Hidden Complexities of Selling a Business How a Business Broker Adds Value at Each Stage What First-Time Sellers Should Know 1. The Hidden Complexities of Selling a Business Valuation Challenges : Determining a fair market price involves more than multiplying annual revenue by a number. You need to account for discretionary expenses, owner's benefits, industry trends, and growth potential. Mistakes here can leave you with a sale price below your business's true worth or an overpriced valuation th...