Thinking of selling your business yourself?

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 you

    Work with G3 Business Brokers Orlando and receive a free business valuation today!