Your first step is to look for expert guidance. When a business broker is involved in
the sale, he or she will channel the process to keep the transaction within safely
silent bounds. You can expect your business intermediary to do the following:
- 1. Selling
Selling a business can be an ordeal. Establishing a proper price, marketing the
business for sale, negotiating leases, and financing are just a few areas of expertise
that Business Brokers Hawaii offers. Also, most accounting in a privately held company
is done to minimize tax obligations and may not portray the company in the best light.
Business Brokers Hawaii deals with problems like these every day.
We screen all buyers to determine their financial qualifications. Because we work with
each potential buyer in finding the right business for his or her needs, the prospects
we bring to you will be genuinely interested in your business as well as financially
capable. We require that we first obtain a strict Confidentiality Agreement and a Net
Worth Statement for your inspection, and our guidance.
Only a small percentage of people who inquire about a business eventually purchase a
business of that type. While this can be frustrating if you try to sell your business
alone, it’s a big plus when you work with Business Brokers Hawaii business agents.
Since we receive dozens of inquiries each day, listing your business with Business
Brokers Hawaii increases the likelihood of finding a buyer early in the selling process.
- 2. Qualify the Buyer
Screening potential buyers is one of the most important benefits a business broker can
provide for you. Keep in mind that roughly 90 percent of those who respond to
business-for-sale ads are either not serious buyers or are not financially qualified.
By screening prospects, the business broker will contribute to confidentiality by
limiting the exposure of the business to the most promising buyers instead of the
merely curious time-wasters.
- 3. Use Appropriate Marketing Strategies
How can you advertise a business for sale without spreading the news too far? The
business broker, as an intermediary, is an ideal position to do just that. Brokers
place advertising and post listings that contain non-specific descriptions or create
a artificial or sham name for the business. This "blind ad" approach can be
phrased to attract interest in the business without revealing its name or exact
location.
- 4. Prepare Paperwork Designed to Promote Confidentiality
After screening prospective buyers and assessing the degree of interest and financial
qualification, the business broker will also require prospects to sign a strictly-worded
confidentiality agreement. It’s worth repeating, we also get a Net Worth Statement.
- 5. Manage Appropriate Release of Information
Until an Offer To Purchase agreement has been signed, the business broker can phrase
the release of information about the business to match the growing evidence of buyer
sincerity and trust worthiness.
However, even with the most careful handling, rumors are unavoidable. The wise seller
will expect questions from the curious and will be ready with answers. If you find
yourself needing to muffle the business-for-sale buzz, aim for a mix of good sense and
good humor. You might respond that many buyers have approached you over the years,
making "news" before it happens. You could go on to say that you never refuse
to listen to a great offer, adding that you are, in fact, all ears right at the moment!
Many of our clients have said that they are looking for a "growth partner".
No matter how close-mouthed sellers choose to be with the community at large, they might
consider being open with their own employees. This is the group most likely to sense
what’s happening, and sharing the news with workers can sometimes be a positive
move. Since it’s often the unknown that causes the most anxiety, including
employees in the decision to sell can actually calm over-active imaginations. Once
enlightened, workers can be made to understand the need for discretion. Confidentiality
will help protect their own future as well as that of the business.
