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Help Us Help You: Assuring a Smooth Transaction When You Buy or Sell a Business

You’ve invested time in finding and evaluating business brokers. You’ve finally selected the broker you want to help you. You want the relationship to be a good one. You want the transaction to be as smooth and painless as possible while moving forward as fast as possible.  Here are a few tips to help.

If you’re a Buyer

  • Make a list of the types of businesses you’re interested in purchasing.
  • Tell the broker precisely how much money you have to invest.
  • Show you’re serious. A business broker wants to be sure that if the right opportunity comes along, you’ll be ready to buy!

If you’re a Seller:

  • Tell the broker honestly why you want to sell.
  • Provide the broker with current financial statements.
  • Provide the broker with (at a minimum) 3 most recent years of tax returns.
  • Provide the broker with information about the marketplace and competitors.
  • Be ready when the right buyer comes along.

Buying and selling a business isn’t easy. The marketplace can be challenging. The process isn’t simple or fast. The easier it is for everyone, the better the chances for a successful transaction.

 

 

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