In general, a sell-side broker should
- estimate the value of the business or the “range” of likely values
- help prepare the Sales Memorandum (also called by names such as Confidential Information Memorandum)
- market the business in select locations – usually business listing websites such as businessesforsale.com and DaltonsBusiness
- provide an anonymity service so the public don’t know the identity of the business for sale
- handle enquires from prospective buyers, screen them and gets them to sign a Confidentiality Agreement before providing them the Sales Memorandum,
- get buyers to compete for your business
- use his experience and ability to overcome objections (whether real or imaginary) generated by the buyer or his advisors
- handle discussions and negotiations with prospective buyers
- assist the seller in dealing with buyers’ due diligence investigations and
- otherwise assist with the business sale.