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 Business 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 Business 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.