- By Daren Leng, Senior Business Broker, ABC Business Sales
Selling a business is a significant decision that requires careful planning and expertise.
One of the most crucial steps in this process is choosing the right business broker.
A business broker can help you navigate the complexities of selling, from finding potential buyers to negotiating the best price.
Having recently marked my 10-year anniversary as a business broker, I thought I’d share some key factors to consider when selecting the right business broker for your needs.
Experience and track record: Choose a broker with a proven history of successful business sales, particularly in your industry, which can be instrumental in achieving a successful sale.
Confidentiality: Ensure the broker maintains confidentiality using NDAs, do checks on the purchasers, and discreetly handles all discussions and marketing materials.
Valuation skills: The broker should have strong valuation skills and justify their valuation with data, market insights and knowledge of the industry and buyers.
Financial savvy: Your broker should understand financial statements and key metrics. This is vitally important for when it comes to talking with buyers and negotiating on your behalf.
Compatibility and trust: Select a broker you’re comfortable with and who understands your goals.
Trust and compatibility are crucial for a successful partnership.
For more guidance, contact Daren Leng at ABC Business Sales – your business broker of choice. Phone 021 0278 6045 or email darenl@abcbusiness.co.nz.
