What to Ask your Broker when Selling your Business / www.DjbRealty.com
You have been building your business, and the time has come. It is time to sell your business.
So what to do now?
Well, the answer is stop and think about what it is you want to do. Do you already have a buyer? Are you passing the business to the next in line of the family generation tree? Have you explored your tax liabilities upon a sale? Have you discussed with your family the changes to be expected? Are you ready to sell?
Though there are many questions you need to ask yourself, there is a common thread that you MUST ask any representation for the sale of your business.
Some items are;
Is your license in good standing?
What memberships are you involved with?
What associations are you a member of?
How long have you been in business?
Have you ever OWNED your own business and SOLD it?
Are you a member of a business broker association?
How long is your listing agreement for?
What is your fee?
Who besides yourself, will be active in getting my business sold?
Do you reccomend outside business appraisals?
Do you offer a discount if I find my own buyer when listed with you?
What is your strategy if not sold in the first 30 days?
What is your strategy if not sold in the next 30 days?
What is your strategy if not sold in the term of the listing agreement?
How do you keep me updated of prospective buyers and interest?
In the state of Florida, any licensed real estate professional may sell a business for a fee. There are several characteristics that are vast and different to this community. Some have different memberships, qualifications, affiliate networks, styles, etc. Make sure you have representation that showcases your business in the best venue for YOU. Everyone is different and should be interviewed before listing your business for sale.
In summary, you have worked long and hard building a business that is a success and sellable. Take the extra time in selecting the right broker for you.
Djb Realty, LLC is a boutique business brokerage and investment real estate firm that caters to business owners and entrepreneurs business objectives. Djb Realty, LLC maintains a web presence at www.DjbRealty.com and David J. Britton, broker/owner is the founder and principal broker. Djb Realty, LLC can be reached daily at 813-469-9120 or at www.DjbRealty.com.