What are you looking for in a broker?
Are you contemplating the sale of your company? What are the key attributes you should look for in your transaction team? The sale and transfer of a privately held business is complex and can be stressful and emotional as well. As the business owner, you have poured your life and soul into trying to make your business successful, taking time away from friends, family and personal pursuits. So when it comes time for you to move on to the next chapter of your life, you may be worried exactly how and what steps to take, or how to get the best deal for yourself and for your employees.
Most business owners have never sold a business before and are not sure what to ask when researching brokers. The following questions should be asked of all candidates:
- Can you determine if I’m ready to sell…if so, how will you do so?
- How will you value my business? Would you order a business valuation or is it just an educated guess?
- Will you advise me of tax implications of the sale?
- Will you screen buyers for financial and operational fit or would I have to deal with tire-kickers?
- Will you maintain my confidentiality?
- Will you help me determine if my business is bankable?
- Will you provide a technically written confidential Offering Memorandum?
- Would you help me through due diligence, or am I on my own?
- Will you negotiate and structure the deal, or do I have to pay an attorney to do so?
Wondering what the best way is to proceed with business valuation?
Unlike business brokers, Trinity Transaction Advisory, LLC, will help manage all of these critical issues with a team of professionals at each corner, as opposed to deploying one sole practitioner. The result is a well-planned, well-managed process with no surprises, producing higher values to our clients. You should see what our clients are saying: www.trinitytransactions.com/Testimonials.
