Choosing the right business broker to sell your business is a critical decision that can make the difference between a successful sale in a timely manner and a long, drawn-out, stressful process that leaves you unhappy.
Here are 4 things to take into account for how to choose the business broker for your sale.
1. Number Of Listings
If a business broker has too many listings the chances are they won’t have the time to effctively follow up with buyer leads and answer their questions, as well as communicate regularly with the seller. At New Chapter Business Sales, we purosely limit the number of listings we take on to keep service and sale rate high. This allows us to dedicate more time and attention to each business and ensuring no potential buyers are lost or missed.
2. Accurate Value Appraisals
One of the biggest reasons businesses don’t sell, or take years to change hands comes down to setting the wrong price at the start. Rather than guessing, or going with whatever the client wants just to win the listing, we provide the most accurate value appraisals by leveraging Benchmark’s database of 5000+ sales and our access to the Australian Institute of Business Brokers (AIBB) database of comparative sales.
As the only broker in North Queensland with access to these databases, our appraisals are precise. A correct appraisal on day one is vital as it sets the foundation for attracting serious buyers and achieving a higher sale price, fast.
It also means our clients don’t miss out on hundreds of thousands of dollars thanks to low value appraisals either.
Our process includes analysing financials and assets, a risk analysis, selection of the most suitable valuation method from seven available options, comparing against recent industry sales as well as recommendations to enhance your business’s value and attractiveness.
3. Marketing Methods Used
The more marketing methods a broker uses, the more chance the right buyer can be fiund for your business. Unlike most brokers who rely solely on listing clients businesses on standard websites and crossing their fingers, we employ six different marketing strategies to attract buyers to your business quickly to ideally bring in multiple bidders and maximise sale prices:
- Advertising on Benchmark’s website with 40k monthly visitors.
- Email campaigns to our database of 80,000+ potential buyers.
- Strategic acquisition mailouts to interested parties in the same or complementary industries.
- Targeted social media ads to reach potential buyers early.
- Listings on the top four online business sale websites.
- Press advertising.
4. Experience
With over 5000 businesses sold and the collective expertise of 50 top brokers all over Australia, we have the experience of recent previous sales in every single (including your) industry.
If you’re planning on selling and want to know if we can help, send us an email or call us on 1300 405 597 to find out if we are a good fit to work together.
– Kurt
