You are here:   HomeServicesSelling A Business

Why do you need a business broker to sell a business? Because selling business is a professional sport and you have to know rules of the game. It's very far from being as simple as publishing an ad and having a nice guy with pockets full of cash showing up on your door steps. You would never consider defending yourself in a court of law, and, probably, will see a doctor when get sick. Using professional help pays off when you can't afford to make mistakes. Our involvement makes life of our clients, small business owners, much easier when they need to sell a business, and in many instances make difference between selling and not selling. We are taking business owners by the hand and lead through a maze of business sale transaction. Unlike larger business brokerage firms, we pride ourselves in offering very personal service to our clients.

Selling A Business Success Rate

Our success rate of selling businesses is almost twice as high as industry standard. It is based on business brokers' team work, dedication to our clients, deep knowledge of the business marketplace, meticulous attention to details and utilization of our highly-effective Business Packaging System™. All of the above multiplied by many years of experience in finding solution from the most difficult situations, explains why business owners put their trust in us and keep coming back with business selling needs. Regardless of your business size, we will apply same level of attention and dedication to you, as our client. We'll listen to you, and try to cater to your particular situation. Contact us for a free consultation.

Process Of Selling A Business

 

 

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Business Valuation (Appraisal)

Selling a business starts with business valuation and analysis. It is very important to correctly determine the purchase price. Overpriced business will not sell. Don't expect miracles and don't try to “probe waters”, it never works. Only correctly-priced business will sell. On the other hand, you don’t want leaving any money on the table either. Global Business Group offers business valuation services free of charge to the clients who decided to sell the business through our firm.

 


Preparing Business For Sale

Our experience shows that it pays off to spend more time on preparing business for sale.  It increases chances of selling, and final terms of sale are much more favorable to the business seller. Our business brokers work very closely with business sellers gathering necessary information, preparing Business Profile and re-casting financial statements, utilizing Business Packaging System™, thus presenting your business in the most attractive way.

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Marketing  

Professional Marketing Business For Sale

GBG marketing strategy varies greatly depending on business type, size and geographical coverage. Majority of businesses are advertised through internet business listing services, like bizbuysell.com and businessesforsale.com. However, sometimes it may require to advertise with trade magazines or contact potential buyers directly. Our marketing team creates discreet, yet descriptive advertisement and determines the best advertising strategy and advertising media for each client individually. It’s worth mentioning that advertising with one business listing service can easily run about $40-70 per month. Global Business Group publishes ads with 8-10 major business listing services at no additional cost to our clients.

 


Protecting Business Confidentiality

Having intermediary involved is very important for preserving confidentiality of the transaction. You don’t want business buyers starting questioning employees, vendors or customers for information about your business operation. It may damage your business by starting a rumor mill, causing vendors to revoke credit terms, employees starting looking for new employment, etc. Global Business Group never reveals our client’s identity until proper confidentiality agreement is signed by the buyer.

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Screening & Pre-qualifying Business Buyers

It’s not a secret that around 50% of buyers inquiring about a business for sale are not qualified to buy it. Multiply it by 25-30+ buyers and you can see how much time can be wasted. It is very important to pre-qualify every buyer early and eliminate unqualified individuals. GBG business brokers pre-qualify every single buyer, thus saving your valuable time.

 


Record-Keeping & Follow-Up

Business selling process involves countless communications with twenty-thirty buyers: telephone inquiries, email inquiries, meetings, forms, documents. Each piece of information can be released at specific moment. GBG is using proprietary database for record keeping and our business brokers diligently schedule follow-up activities with business buyers and sellers.

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Maximizing Business Price - Recasting Financial Statements

It’s not a secret that all business owners are trying to minimize their tax liability. Sometimes small business owners charge personal or family expenses to the business. It may work to their benefit while running a business, however works against them when they decided to sell. While selling, you’d like to show as much income as possible, thus increasing the purchase price. We do necessary adjustments to the financial statements, reflecting true unbiased performance of the business. Our business intermediaries will professionally prepare Confidential Business Profile, recast financial statements and compile all necessary information about your business that may be required by buyers.  

Very important! - Never lie to your business broker. It doesn't make any sense. It's like lying to a doctor about health condition. We are on your side. If we know the truth, we'll find the best way to present it to prospective buyers. It will be much worse if they find out about it later on their own.

 


Negotiating Business Sale Terms

Properly orchestrated negotiation can make a difference between selling and not selling. Both sides get very agitated while discussing the purchase terms. Simple misunderstanding may cause an argument and termination of the deal. Having business intermediary as a neutral third party facilitating your negotiations will bring calm, business-like atmosphere and assure successful outcome.

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Procuring Escrow & Minimizing Closing Costs

After purchase agreement is executed by both parties most business sale transactions are finalized in escrow. Majority of escrow companies do not perform business sale transactions. There are only a few selected ones with no more than one escrow officer qualified to perform such duties. Having knowledgeable and responsive escrow officer is very important. She can not only save you money, but also help with drafting necessary documentation and keep informed about escrow progress. Experienced business broker can suggest you well-tested escrow company and work together with escrow officer to assure successful closing.