You made the decision to market your company and also to employ a business broker to professionally help you in this uneasy task. How to decide on the right business broker? There are plenty of around: individual brokers, small offices, national franchises – go figure…
A facts are your ability to succeed depends upon skills and dedication of the particular business broker who’s your listing agent. It does not really matter the length of work and the number of individuals are standing behind the agent. You need to establish rapport, and feel at ease dealing with that specific person. It is possible via telephone or perhaps in-person interview. Telephone interview could save you considerable time, and so i suggest to begin with it.
One essential suggestion – don’t hire realtor who from time to time sells companies. The initial question to inquire about – may be the broker sells companies full-time? Hire only professional business broker who sells companies full-time.
Another essential suggestion – don’t make quantity of commissions to become a deciding element in employing an agent. Common saying “you have that which you compensated for” works here exactly same manner as otherwise. Business brokers generally charge between 8 and 12 % commission for companies priced under a million, and also you certainly don’t wish to obtain the least expensive one. Incidentally, if the representative is asking 6% commission, probably she’s a realtor – warning sign! Another warning sign happens when representative is requesting anything upfront – no, no, with no!
Ask candidate to explain step-by-step activities heOrshe’ll be performing for you personally. Make certain to know everything, inquire.
At Global Business Group starting with allowing you to determine the acquisition cost. Agents should not charge a fee the acquisition cost, they ought to enable you to determine one according to large number of factors associated with the company. However agent may inquire for those who have a specific cost in your mind, simply to observe how close or far your expectations come from calculated fair market price. E-commerce valuation is usually done totally free if you are signing an inventory agreement. However, count on paying a charge for business valuation services in situation the agreement has not been signed.