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.
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WWW.UPANDCOMINGWEEKLY.COM FEBRUARY 15 - 14, 2023 UCW 17 BUSINESS & FINANCE Whether you've spent a lifetime operating your business or have just recently taken the reins, when it comes time to sell, you want the experience to go well and achieve a successful transaction. And by going well, people typi- cally mean without a lot of head- aches, and, of course, financially capitalizing on your time and hard work. Achieving those goals becomes much easier when you enlist the aid and support of an experienced business broker or advisor. Business advisors are experts in the field, offering help and insights for every step of the sale. ey typically have years of experience to offer you during the process so that you achieve all your goals. While the reasons for opting to work with a qualified broker are many, here are the top five: Valuing your business e first reason that you should consider working with a business advisor is they evaluate your busi- ness and determine a probable sale price. You want to value your com- pany realistically, of course, but there are numerous factors that go into determining not only a fair price but one that is in line with the current market. is includes advising you on the best time to sell and marketing your business for sale to maximize profits. Finally, a business advisor is a great source of advice and guid- ance on all aspects of business, as the following reasons demon- strate. Preparing the business Next on the list of reasons you should consider working with a business advisor to sell your com- pany is they will help you get all the business's legal and financial records in order. Business advisors have a net- work of professional partners that they can recommend for all manner of experts that may be required during the sale of your business, such as accountants, lawyers, financial advisors, and property and equipment apprais- ers. Additionally, because business advisors have assisted in numer- ous other business sales, they can manage your expectations of the process, ensuring that all aspects of the sale run smoothly and identifying potential pitfalls and addressing them before they potentially kill the deal. Finding the right buyer For many entrepreneurs, a big concern revolves around vetting potential buyers for their busi- ness. A qualified business advisor can assist in that process. is includes helping you market your business to find the best buyer. In line with vetting concerns, many business owners hope to keep the sale of their business as confi- dential as possible to avoid issues with their employees, suppliers, and clients. Brokers also make every effort to market a business's sale and conduct the process confiden- tially. Managing the details When you need your car worked on, you go to a trained mechanic because you want someone who understands cars and is experi- enced in making repairs. It's the same when it comes to selling your company. Brokers are experts in selling a business, with an understanding of all the finan- cial ins and outs of a sale. Deciding to part ways with a company you created can be an emotional process and a business advisor is an objective partner that can guide you. Getting the best price e final reason to work with a business advisor is to maximize your profit. Brokers have experi- ence negotiating with buyers when it comes to selling a com- pany. ey know how to take advantage of all relevant opportu- nities to get the best price for your business and avoid potential deal killers during the sale process. Last, but not least, a business advisor can also serve as a valu- able resource to help you plan for your next steps once the sale of your business is finalized. Just because you are selling one com- pany doesn't mean that you are walking away from the business world after all. A business advisor can assist you in taking on what- ever your next challenge may be. ere is a lot involved in selling a business. Having a professional to guide you can help ensure the sale goes smoothly and you maximize your profit. Business advisors are available to help facilitate the process. Many offer a free consultation today to get you started. Editor's note: Ashley Kelsey is a Business Broker at Transworld Business Advisors of Eastern North Carolina. For more information call 910-302-6447 or visit www. transworldeast.com. Top five reasons to work with a business broker by ASHLEY KELSEY ASHLEY KELSEY, Transworld Business Advisors of Fayetteville. Comments? tkelsey@tworld.com ere are a number of reasons to enlist the assistance of a business advisor or broker. Doing so can help ensure you are able to have a successful and rewarding experience. make your Radio sound funny. Mornings 6am to 10am on WFAY. Bud & Broadway