Up and Coming Weekly is a weekly publication in Fayetteville, NC and Fort Bragg, NC area offering local news, views, arts, entertainment and community event and business information.
Issue link: http://www.epageflip.net/i/1420493
WWW.UPANDCOMINGWEEKLY.COM OCTOBER 20-26, 2021 UCW 17 Are you ready to sell your business, but still on the fence about using a broker? You're not alone. Many business owners, especially first-time sellers, feel compelled to DIY the process, thinking it will save them time and money. Selling your business can be a long process with many tedious steps. An experienced business broker- age (plus the valuable resources they bring to the table) can make a big dif- ference in your profits, your reputa- tion and even your legal culpability. Read on to find out what business owners absolutely need to know be- fore selling without a broker. Selling Without A Broker If you decide to act as your own broker, it's important to understand your responsibilities. Are you prepared to do dozens of hours of research to determine what businesses like yours are selling for? Can you be sure you're asking a fair price? If you sell, how will you know you're making the most profit? Do you understand your obliga- tions in terms of legal liability? Have you filled out all the correct forms? Are you meeting the terms and conditions of your buyer—and are those terms fair? Can you commit to fielding calls from dozens of interested parties? Do you have time to spend hours on the phone with each one? Are you a good negotiator? Are you ready to fight for your business? Selling With A Broker Selling a business is a bit more complicated than selling a forklift on Craigslist. Transactions like these are far more complex due to negotiations, legal re- quirements, and no small amount of paperwork. Having a professional at your side to navigate these processes can go a long way in protecting your peace of mind, as well as your bottom line. Brokers can give you resources, time, security and strategy. Veteran brokerages have tried-and- true methods for putting businesses in front of the most likely buyers when those buyers are ready to buy. ey know how to position your busi- ness for a quick, profitable sale thanks to the years they've spent developing strong industry connections. What's at Stake? A lot more than just profit is riding on your business's prospective sale. Your reputation as an industry profes- sional, as well as your future ventures, could suffer from a bad sale. Scammers and other "known" untrustworthy buyers may try to ap- proach you with offers. Brokers know how to recognize these parties and can warn you ahead of time. e deal of a lifetime could slip through your fingers if you push too hard or don't negotiate appropriately. A broker can help you take advantage of great offers. Settling for a "lowball" offer could hurt for years to come as you're forced to put off retirement or other ventures. Brokers help sellers get the offers they need—and deserve—so they can move forward with their lives confidently. It's Your Business – And Your Life Bottom line: you can certainly sell your business without a broker. But doing so may mean sacrificing your time, your money and maybe even your plans for the future. Brokers provide the valuable inside perspective that sellers need to understand their options and plan accordingly. After all, you don't want to see a once-in-a-lifetime deal slip away—nor do you want to see your beloved business in the wrong hands. THOMAS KELSEY, Transworld Business Advisors of Fayetteville. Comments? tkelsey@tworld.com Pros and Cons: Selling your business without a broker by THOMAS KELSEY BUSINESS & FINANCE 1 PHIL WICKHAM House of The Lord 2 ANNE WILSON My Jesus 3 Matthew West What If 4 ELEVATION WORSHIP Rattle! 5 CASTING CROWNS Scars in Heaven 6 TASHA LAYTON Look What You've Done 7 TAUREN WELLS Until Grace f/ Rascal Flatts 8 EVAN CRAFT Be Alright w/ Danny Gokey 9 JEREMY CAMP When You Speak 10 CAIN Yes He Can For the last 20 years, Express has been widely known for supplying temporary laborers. About half of our jobs are long term! They are for: • Skilled Labor • Administrative • Professional Express is here for you! Call us today! (910) 437-5959 (910) 437-5959 • 894 Elm Street • Fayetteville, NC 28303 www.fayettevillenc.expresspros.com We are so much more