We know. Some estate agents have a bad reputation. And a few deserve it. But, most of the time, they perform a useful purpose and deliver a better result than a house owner could achieve on their own.
Let’s look at some of the reasons why and how this compares with business brokers and advisory firms.
Understanding the legalities of selling a business is one thing, knowing how to market a business is completely different. A business owner, left to their own devices, probably either ends up selling to the only interested buyer, or taking a punt on one of the various cheap business listing websites.
Neither of these two strategies will reach the most valuable potential acquirers or create the competition needed to succeed in this marketplace.
Most company owners are far too deep into the woods to see the trees. They take many of their most valuable assets – whether staff, intellectual property or clients – for granted. This is also true of householders, who so often focus on the superficial ‘froth’, rather than on what the buyer really will value.
A successful sale is usually made by an agent who has a laser-guided focus on what really matters, and ideally adapts this to suit the particular buyer.
Bringing together the right information is about understanding what a business buyer is looking for. For a property you have a brochure and for a business you have an information memorandum. Both work as a prospectus for the buyer and both present your opportunity in the most attractive way.
What good would it be if your business details were filled with issues, concerns and mistakes? A good business sale advisor recognises that buyers need to be immediately attracted to the opportunity, so that they can develop a plan and vision for their acquisition. If concerns are raised further into the process, it is then much easier to tackle these issues as and when they are raised.
The right information is not all the information – it is the best information presented in the most favourable light which can be supported or verified if called into question.
Every Estate Agent or Broker will claim that they only act in the best interests of the vendor. They will maintain, until their last breath, that this is indeed what they do. However they also recognise that sometimes the best ‘deal’ is already on the table, and that the business seller may need to come to their senses to get the deal done.
Completing a sale can require a dose of realism, particularly from the business seller. A strong attachment to a business can sometimes cloud judgements, and a good broker can sometimes provide the ‘smelling salts’ to help an owner come to their senses.
When it comes to the negotiation and ultimate sale of your business, there’s nothing like having experience of being there before, which is where a business broker really comes into play for you.
They know how to qualify people, to respond to concerns, to introduce further information where needed and to introduce competition. All of these ultimately improve the chance of sale and improves the sale price.
A good Business Broker, like a good Estate Agent, will probably secure the most favourable deal for you.
Explore the options available to you, improve your chances of successful sale.
If you’re seeking a business to buy, then we can increase your deal flow.
In the early stages of such an important undertaking, it can be a bit of a moral maze: who do you trust?
Firm Gains gave me confidence with detailed advice and support. I would recommend their services to other entrepreneurs seeking to buy a business.Mr T Washington , Founder
I found it much easier to get my head around a business sale this way than talking to my accountant. You speak a language I understand!
Even though the whole process of selling seems daunting, I’ve got more confidence that I’m heading in the right direction.Mrs T Boothe , Founder
Thank you for your email and the excellent advice provided earlier this week. It was immensely helpful and has helped me to plan my future direction for the practice.
I would have no problem whatsoever in recommending your services in the future.Mr & Mrs Halldron , Co-Owners
Firm Gains were recommended to me and I was not disappointed. They were efficient, helpful and effective responding quickly to my request with all the facts that were needed to ensure a stress-free dialogue with our buyer.
What really helped was the advice over and above the valuation, which was immensely valuable and gave me the confidence to proceed. I would not hesitate in recommending them.Mr C Waite , Founder
We found the advice invaluable, which was clear and concise and felt your firm had a good handle on market trends and business sectors.
With also the backup of the secondary services, there was a feeling you had all bases covered if we wanted to proceed with our exit via Management Buy Out (‘MBO’).Mr D Wills , Director
Thank you for your advice. I was just about to sign up to the wrong kind of business agent for a company of our size, but read your post just in time.
I found a more serious partner, with experience in our industry and we’re already using the same language.Mr F Summerscale , Managing Director
We have been greatly impressed by the clear and impartial advice given to us by Firm Gains. After just an initial phone call we felt much better informed, with a new awareness of the many options available to us.
Firm gains understood our situation quickly and clearly and were anything but ‘pushy’. Refreshing compared to what we’d experienced before.Mr C Hutcheson , Managing Director