Wednesday, May 14, 2025 – 10:10
When it’s time to sell your business, few decisions are more important than choosing the right business broker. This isn’t just a transaction – it’s the culmination of years of effort, risk-taking, and dedication. The right broker can significantly increase your final sale price and ensure a smooth, confidential, and professionally managed process. The wrong broker, however, can cost you time, money, and peace of mind.
So how do you choose wisely?
Key considerations when selecting a business broker:
Experience Matters – But Not Just Any Experience
Look for a broker who understands the joys and pains of building and operating a successful business. Brokers who have owned and ran businesses themselves bring a depth of understanding that can’t be taught. They get what makes your business valuable and how to communicate that to buyers.
Credentials Tell A Story
Designations like the Certified Business Intermediary (CBI) and the M&A Master Intermediary (M&AMI) aren’t just letters after someone’s name. They require years of coursework and continued education, a dedication to ethical practices, and a track record of successful transactions. Working with a broker is a lengthy process and you want to be assured that any bumps in the deal will smoothed out by a knowledgeable, well-versed broker.
A Proven Process Is Key
A broker with a structured, results-driven process will help you go to market with confidence. This includes a comprehensive valuation, professional marketing materials, national exposure and strategic buyer outreach.
Marketing Reach Should Be National NOT Local
The best buyer may not be in your backyard. Brokers who limit themselves to a local or regional outreach are doing you a disservice. A national marketing launch dramatically increases your exposure – and your chances of getting top dollar. The age of “Business For Sale” signs has come and gone.
Likability and Trust Are Non-Negotiable
Selling a business can take 9-15 months or more. You’ll be working closely with your broker through a sensitive, and at times, an emotional process. Do you trust them? Do they listen? Can you see yourself having difficult conversations with them? You’re handing off your “baby” and it’s crucial to trust your broker and be sure they are working in your best interest.
Don’t Be Fooled By “Cheap” Brokers
It may be tempting to go with the lowest-cost option, but that decision could be the most expensive mistake you make. A “cheaper” broker who cuts corners on valuation, marketing, or buyer vetting can cost you hundreds of thousands of dollars in lost value.
When it comes to selling your business, there are no do-overs. Get in touch with Kevin to secure your financial future.