How to find the best advisor when selling your business

The era of do-it-yourself home repairs may have had its moment. Still, those who've closely followed this trend quickly realized the advantage of having a professional remodel their homes for superior quality work. This truth extends to significant endeavors like selling your business. While you may know your business inside and out, understanding the nuances of marketing, vetting potential buyers, and securing the best deal is a different skill set.

So, if you've decided to sell your company, how can you find the right broker or advisor to assist you while allowing you to focus on running your successful business? When interviewing potential brokers for this critical role, here are three essential considerations:

1. The Type of Advisor You Need: Kickstart your search for a business broker by concentrating on advisors who can delve into your business's intricacies and prepare it for sale. This requires a deep knowledge of the business selling process and an extensive professional network interested and capable of purchasing your company. Transworld advisors excel in these aspects, as outlined below.
2. The Size of the Business Advisor: Opinions abound regarding the size of a business advisor - smaller ones offer personalized service, while larger firms boast a broader marketing reach. Transworld uniquely combines the best of both worlds as a franchised business, offering a personalized, local broker experience supported by the resources of a more prominent corporate-like firm. Benefits include access to a database of over 300,000 potential buyers and assistance organizing your company's financials before the sale.
3. Credibility and Success of the Advisor: It's crucial to evaluate your potential advisor's credibility and track record. Confidentiality is paramount when selling your business, as leaks can concern suppliers, employees, and customers, affecting profitability. Additionally, you want an advisor known for securing top-dollar deals. Transworld's extensive experience selling over 15,000 businesses showcases our ability to maintain confidentiality and maximize sale prices.

During interviews with potential advisors, consider asking these key questions:

• What industries does the advisor serve? Transworld boasts brokers with resources to market businesses across various sectors successfully.
• What is their step-by-step process, and how long does it typically take?
• What are their fee structures?
• How many of their transactions have been successful or unsuccessful?

Deciding to sell your business is both thrilling and stressful. At Transworld, our advisors are among the industry's most sophisticated and experienced professionals. With the expertise and reputation you seek, our Business Advisors can guide you toward securing the best deal. Schedule a free consultation today to begin this journey.