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Is It Really Worth it to Hire a Business Broker to Sell Your Business?

Updated: May 9


Selling your business independently might seem like a cost-effective and straightforward choice. Many owners appreciate the potential savings and the ease of online advertising. However, before proceeding, consider the advantages of partnering with NOVUS Business Brokers, which can lead to achieving maximum value.


Why Choose NOVUS


While you excel at running your business, selling it demands a different skill set. Some sellers hesitate to engage a business broker to facilitate the sale, tempted by the potential savings on brokerage fees. However, working with NOVUS Business Brokers often adds 10-12% to the sales price. While a for-sale-by-owner approach can be suitable in certain cases, collaborating with NOVUS ensures effective handling of key tasks such as preparation, showcasing the business to qualified buyers, marketing, negotiation, and ultimately achieving optimal value.


Buyer Qualification


Early pre-qualification of potential buyers is vital for a successful business sale. It not only engages buyers more deeply but also protects sensitive company information from falling into the wrong hands. Pre-qualification ensures that only serious buyers with access to critical details participate. Prospective buyers interested in essential business information are required to provide standard documents like confidentiality agreements and financial background information.


Valuation


Inexperienced sellers often set a price before determining the true value, a common mistake. Price significantly influences how long a business stays on the market. NOVUS Business Brokers conducts a thorough valuation process before assigning an asking price, remaining attuned to marketplace prices, defending the price, and facilitating a faster, smoother sale.


All Cash Sale


In today's business-for-sale marketplace, all-cash sales are unrealistic and may have tax implications. Buyers often seek concessions such as seller financing, deferred payments, or assistance in obtaining third-party financing. This approach allows sellers to spread sales receipts over time, potentially avoiding higher tax brackets.


Confidentiality


Maintaining confidentiality is crucial in a business sale to prevent adverse effects on sales and employee relationships. NOVUS Business Brokers excels in marketing your business while preserving strict confidentiality. For those pursuing a for-sale-by-owner approach, creative targeting of marketing efforts to a small group of prospects can help maintain confidentiality.

Consider these factors when contemplating selling your business. While some owners believe that selling independently saves on broker fees, collaborating with NOVUS Business Brokers can provide valuable expertise and maximise your business's sale value.

 

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