When it comes to selling a business, there are two options.
Option 1 – Hire A Business Broker
The first option is to hire a business broker. Many owners choose this method because they know how valuable their company is, and they want an outside perspective on the potential value of their business. If you hire a professional business broker, you can expect to pay anywhere between 8% and 12% of the total sale price.
Option 2 – Sell Your Business Yourself
The second option is to try and sell the business yourself. In some cases, you can work with contacts, clients, or even your own customers to find a buyer for your company.
This will allow you to avoid the broker’s commission and keep more of the money in your pocket. When you’re ready to sell your company, hiring a business broker may appear to be the best option, but consider this: not only will you save thousands of dollars by selling it yourself, but you’ll also keep all the money that would have otherwise gone to a business broker or agent.
So, if you’re thinking about selling your business, don’t pay a business broker – pay yourself instead.
Here’s the benefits to selling your business yourself:
- You’ll be able to sell it for a better price
By receiving the sale proceeds yourself, you can choose how much of a commission you want to give anyone who introduces a new buyer. This means you have more control over the sales process and can adjust your commission accordingly. You won’t ever have to split the profits with another business broker.
- You’ll be able to sell it on your own terms
When you use a business broker, you must work within their commission structure. However, when selling the business, yourself, you can even choose how much of a cut you want to take in exchange for not charging any professional fees.
- It will save you money
You don’t have to pay a business broker commission when you sell your business yourself, so it will cost you less in the long run. This will free up more of your capital for other investments.
You’ll be able to avoid any conflict of interests
When you use a business broker, they typically receive money from both parties.
Want to know how to sell your business on your own? Book a free demo with Business Selling Mastery today.
