What Does A Good Broker Do?

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.

 

Experienced-People.co.uk Advising Business Owners Since 2005.