There are a few things that everyone who is looking into working with a business broker should consider. Not all brokers are created equal so taking these steps will help to ensure you are choosing the right broker for you.
- Choose a full-time broker – You want someone who is working for you all the time. A part-time broker likely has another job and is not going to be as available for you as you need them to be. A full-time broker also likely has a large professional network, which is key in getting your business sold.
- Interview the broker – You worked hard to build your business to what it is, the last thing you want to do is just let anyone sell it. You wouldn’t just choose any real estate agent to sell your house, and this is no different. Talk to the brokerage and make sure they are the right fit for you.
- Ask for references – Once you think you have a decision, or have narrowed it down, it’s time to talk to former business owners who have used them for their sales transaction. There is no better way to gauge a positive or negative experience than talking it through with someone who has already been there. They are much more likely to tell you the truth if the situation was not as they expected, or to sing their praises if it was excellent.
Where to Go
Once you are ready to start finding the best brokerage to sell your business, it’s time to look at the top two options for business brokerage.
Business Exits was founded by an entrepreneur who understands what goes into building a successful business. Focusing on larger businesses over the Two Million Dollar mark, their book of business includes thousands of potential buyers and entrepreneurs in states and countries across the globe. Boasting a 91% success rate of all transactions brought to market in 2019, Business Exits will help you sell your business of maximum profit.
Another leading company in the industry is Digital Exits. They work with smaller-scale business transactions beginning at only $250k. The company’s founder started his business entrepreneurship at only 25 years old and has built and sold many businesses since. His team understands what it is like to own and operate a business and will use that to attract the right buyer. With a 94% closing rate and 100% confidentiality promise, Digital Exits is the place to go for your small business sale.
Woodbridge works with large businesses who are generally in the range of $5M to $250 million. With 27 years of business transactions under their belt, they take more of a team strategy than just one person representing them. With 19 worldwide locations, they are definitely a company that gets it done.
Synergy Business Brokers
Established in 2002, Synergy Business Brokers helps smaller businesses with annual revenue of $700,000 and $40 million. With a wide range of business specialties, they use a business model that allows them to market your business quickly and effectively. Although they have a heavy focus on the Northeastern United States, they have global buyers and can sell anywhere in the US. This award-winning team also boasts no fees until your business is sold.
Regardless of the reason for selling your business, you want to make sure it is done right. These two business brokerages will make sure you are well taken care of and help you settle the deal that’s right for you.