When it comes to a business, the elements needed are entirely dependent on the nature of the business itself. What, or who, may work for one Raleigh business can be entirely different from another. The same goes for finding a business broker in Raleigh.
As a Raleigh business broker with VR Business Brokers, I understand that finding the proper broker who will work well with a business is a process. It is a good idea to interview several different candidates to find the perfect match.
5 questions that a business owner who is selling needs to consider are:
- What are the broker’s background and credentials? Are they qualified to work as a business’ broker? Pay close attention to education and credentialing from state broker associations. If a candidate has the IBBA (International Business Brokers Association) or CBI (Certified Business Intermediary), they have reached the requirements and standards of the IBBA.
Experience is also important. What has this broker done in the past, and how may their experience help with the current business?
- Are they interested in learning about the business? To successfully sell a business, one must first understand it. When meeting with a potential broker, take note of how much interest is expressed in the company. Without any knowledge of the business being sold, it is possible for the wrong type of sale to be made.
- How will they promote the business’ sale? The strategy is important! How does the broker intend to attract interest from qualified buyers? The right broker will make sure the client is up to date on what steps are being taken throughout the sale process.
- What process will the broker use to screen prospects? If the sale of a business is marketed and advertised well, it is likely that there will be many prospective buyers. However, making time to meet with every individual who is interested can be time-consuming. The right broker will weed out those with faint interest from the serious buyers, saving precious time.
- Are they local? A broker working from a different market is at a disadvantage to a broker who is local. They don’t know the subtleties of the market, what buyers are looking for, or what it means to be in Cary compared to Smithfield. The Triangle market is a unique market. Picking a broker based in the Triangle area will help your chances of getting your business sold.
When it comes to business brokers, they should fit with the company like a glove. It is important to pay attention to aspects like the ones listed above in order to find the right Raleigh business broker! Want to find out is VR Business Broker of Raleigh is the right fit? Then, contact us today.