Seller FAQS – Frequently Asked Questions
Many business owners have questions about selling their business, here are the most commonly discussed topics with answers to help you (seller) make an informed decision:
Why should I use a Business Broker to sell my business?
A. Many owners think they can sell their business without professional assistance. On the contrary, there are solid reasons to use professional Business Broker and some of them are as follow:
- Maintaining strict confidentiality
- Business continuity – Owner/Seller is already busy in his/her business operation and does not have time get engaged in selling activity. Owner can continue his business operation without disruption if he/she has a professional who is looking after selling aspect
- Marketing the business
- Qualifying potential buyers
What’s the best way to sell my business?
Sometimes selling a business is not easy. If you have planned to sell your business, then you should consult with a broker that specializes in selling your type of business.
What should be the right price for my business?
Putting a value on your business is difficult and complex. A professional business broker is the right person who can easily calculate and propose right price for your business.
How long will it take to sell my business?
Selling a business is a process itself. For most businesses, on an average, it takes between 5 to 9 months. Some businesses will take longer to sell while others will sell in shorter period of time.
What can I do to help sell my business fast?
An owner can do a lot in expediting selling process by arranging 3 to 5 years financials to help business broker prepare various presentable papers and documents for prospective buyers. This will help buyer complete due diligence in buying process.
What makes selling a business difficult?
Significant reduction in revenue/sales & cash flow.
Can ProClient Brokers help position my business for a later sale?
Yes, on the request of the business owner.
Can the selling process of my company be confidential so that my employees, competitors, and customers will not know?
A. Yes, on the request of our client. Confidentiality is essential part of our services.
What is Due diligence?
Due diligence is an important part of business sale process, where seller must convince the buyer about company performance as presented earlier, by providing historical documents as proof. During due diligence buyer has the opportunity to review business financial statement, balance sheet, bank statements, leases, invoices, or any other document necessary for the buyer’s satisfaction.
Why is seller financing so important to the sell of my business?
Seller financing is a big selling feature which helps in fast sale of a business although due diligence on the part of seller is recommended.