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.
When Raleigh business owners make the decision to sell their business, there are multiple variables to consider throughout the process. To put it simply, it’s not as easy as listing a business as “for sale” and hoping for the best.
VR Business Brokers is available to Raleigh business owners who need help navigating the complicated process of listing and negotiating business sales. Business brokers are an excellent resource to depend on when the time comes to making a business sell, as they possess invaluable information regarding market trends and other relevant statistics. For example, a lot goes into determining the listing price for a business, a lot more than owners may consider.
3 common methods for determining the selling price of a business, with each approach considering different variables related to business operations are:
Asset-Based: This approach is typically a starting point for brokers valuing a business. Solely considering the market value of tangible assets is not sufficient as it does not take into account other intangible assets, such as the business’s goodwill. It’s best for brokers and owners to consider other variables, as relying on hard assets is not comprehensive for valuing the business entirely.
Market-Based: This method relies on the experience of brokers selling other similar businesses in the local area. So, a Triangle-based broker will help local business owners get the best and most realistic asking price on the table. Small business owners benefit from this approach with the help of a broker, as they get an inside look at what other companies like theirs have sold for.
Earnings-Based: Combining this approach with the others mentioned will provide a realistic, comprehensive valuation of the business being sold. Looking at the business’s earnings includes many financial figures such as debt, cash flows, total revenues, and projected figures for the future.
Selling a business may seem like a complicated endeavor for any Raleigh business owner. However, utilizing the services of a seasoned business broker with VR Business Brokers can help ensure the process is seamless, resulting in the best chance of a successful sale and peace of mind for the owner. Contact us today to put our business experience to good use!
Business owners are often tasked to make difficult personal sacrifices, both financially and otherwise, in order to keep their business thriving. Maybe the location isn’t ideal, or they’re in an already saturated market. Regardless of their reasons, when an owner decides to sell their business it’s usually because they’ve exhausted all their options.
Business owners are unique people who are loyal and devoted to their cause. Depending upon others to handle their business seems unimaginable. However, business brokers are an ideal match for the owner who is unsure of how to begin to sell their business. At VR Business Brokers, we have friendly, professional, and passionate brokers who know the industry and markets well.
3 ways that a Raleigh business broker is able to assist business owners during the selling process is:
Prescreening Buyers. When houses are for sale, a parade of potential buyers will come through to view it and will feign interest in actually purchasing it. The same goes for selling a business. Instead of business owners having to weed through buyers to gauge viable potentials, a business broker can handle this process so the owner can attend to other matters.
Negotiating Deals. This is a key point during the selling process. Business brokers know their markets and they know how to vet buyers according to the business’s needs. Business owners may jump on the first offer that comes to them, but a broker can be sure that sellers know all their options and will discuss them openly, ensuring the best deal for all parties involved.
Administrative Tasks. The paperwork behind transferring business ownership is a bit overwhelming. In short, there is a lot of paperwork that must be completed and filed at specific points during the selling and negotiating process. A business broker can handle these tedious details, allowing the business owner the peace of mind that the process is going smoothly.
There are many other ways that a business broker can assist an owner during the selling process. VR Business Brokers are the best in the business with a thorough understanding of all required processes. Contact us today to connect with our professional, client-focused brokers who are dedicated to providing outstanding service to Triangle business owners.
Those who have lived in Raleigh for some time can speak to the exponential growth we’ve experienced in the last several years, in terms of both new neighbors and new businesses. Due to this boom in activity, the business opportunities in Raleigh and surrounding areas have been numerous.
Many people have already immersed themselves in the business world by either starting a small business or buying one. However, it’s a fact of life that change happens. People change their minds, or their situations shift unexpectedly, and a business venture that seemed like a life-long plan a few years ago can soon become a burden, or it simply isn’t the best fit.
Selling a business can be tough for owners who have likely devoted a lot of time and money into their endeavors. This is a highly demanding process that typically represents the sale of the largest asset in a business owner’s life. Working with a skilled business broker is the best way to ensure a successful deal and a smooth transition.
3 key benefits of working with an experienced Raleigh business broker associated with VR Business Brokersare:
Confidentiality: Typically, sellers do not want to let everyone know that their business is for sale. Our brokers have the upmost regard for business owner’s interests because they know what’s at stake if the news spread to customers or current employees. Our brokers work diligently to preserve the integrity of the business and to maintain the owner’s peace of mind.
Advertising and Marketing:Business owners will find that working with a broker ensures the best visibility for their business on an international level. In addition, our brokers are meticulous about matching buyer’s interests with the businesses available for sale, so both parties are guaranteed to benefit from our resources.
Professionalism:Valued representation is what sets us apart from other brokers, who also may not even specialize in business transactions. Business owners can be assured that the entire process is being handled professionally and discreetly.
Selecting the right broker for selling a business ultimately boils down to finding one with experience in business, someone who knows the ins and outs of the industry. This is no problem for our experts at VR Business Brokers in the Triangle who are thrilled to utilize their experience to help business owners with these important transactions. Contact us today to see how our representation can ensure the best deal for your business.