What determines whether it’s advisable to use a broker or handle the entire process yourself?
Some key considerations:
Size: The larger the size of the business the more sense it makes to spend the time and do the research to find a good broker. For businesses with a turnover of under £1M, and certainly for businesses with a T/O of under £500K, research shows owners have a much higher success rate.
Type of business: Have a look at the criteria on our For Sale By Owner Page. If your business falls in one of those categories it makes sense for you to investigate the DIY selling route rather than hiring a broker.
Time: If time is of the essence it’s quicker to handle the whole process yourself. Many brokers are not very proactive at marketing your business. This is particularly true with the no-upfront-fee brokers. It’s not unusual for a business to sit on a broker’s books for six months or more without getting a single nibble.
Owner Availability: Selling a business places enormous demands on the owner’s time. If you cannot commit the time you’d be better off using a broker.