EVERYONE will eventually exit their business. The question is; under whose terms, for how much and when?
Every business owner has considered the following:
Ideally, you should sell your business on your own terms, for the top dollar, when you are ready. Our business broker process will systematically maximize your company’s exposure to potential Buyers while maintaining the strictest confidentiality. The more potential Buyers who consider your company, the higher your sale price.
A few years ago a business owner sent an e-mail to 11 brokers who are experts in their respective fields, offering his company for sale. One of my colleagues (Andy who is the owner of a very large business brokerage firm), responded succinctly with the following:
Liquidity from Equity
“Sign up with a broker. Give them an exclusive!”
“You have emailed me and some of the finest brokerage companies in Florida. I urge you to interview them and pick one to represent you. Here's why:
1) You should never negotiate selling a business by yourself. The day you have to call a buyer twice to check up on their further interest, you have lost all bargaining power. Top athlete’s and entertainment personalities know they need an agent, you need one too in selling your business.
2) You just told 11 business brokers about your deal. They may be able to tell 5 people about your deal. That’s 55 potential buyers for your business. If you sign up with one of them and your deal is on our confidential Business Broker Florida Multi-Listing Service, (BBF MLS), you will have over 1000 brokers with tens of thousands of buyers competing for your deal. Which way do you think will produce the highest and most qualified buyer for your business?
3) Run your business, not the sale. If profits drop while you work with the hundreds of potential tire kickers, your value will disappear. Very quickly!
4) Your business may be a potential merger candidate. Most brokerages have many private equity contacts ready to purchase businesses like yours.
5) As experience business brokers in Florida, the professionals at Business For Sale Florida have done this before, hundreds of times. We keep the deal going.