When it comes time to sell your business you have two options. Either, "go it alone" to try and save yourself paying a commission, or hire a professional business broker. This decision can heavily influence whether or not you sell your business successfully. Selling a business is no easy task. There is a process that needs to happen. Business Brokers have the experience to bring deals to a close. Before you decide to try and sell your business yourself, consider all of the pros and cons.
Pro's from selling your own business
Do not have to pay a commission.
Success of transaction falls entirely upon you
Con's from selling your own business
Marketing pitfalls - Where are you going to market your business listing? Listing services have a cost.
Qualifying Buyers - This can be very hard and take precious time out of your day when you are running a business full time.
Dealing with "tire kickers" or "time wasters" - Let's face it, not every Buyer is serious. Wasting time with tire kickers can be frustrating and costly.
Overpricing or underpricing your business - If your business is overpriced, it will sit on the market. If its underpriced, you could lose out on some extra cash.
Drafting Non-Disclosure Agreements - Lawyers can do this for a fee - they aren't cheap
Drafting Purchase and Sale Contracts - Lawyers - again not cheap
Document chasing between parties - Chasing documents can be frustrating and take time.
Overall negotiations and common practice pitfalls
Lack of experience
Success of transaction falls entirely on youWork with G3 Business Brokers Orlando and receive a free business valuation today!