Top Reasons to Hire Experts
1. Practice valuation. Fair market value is what a willing buyer will pay a willing seller, period. At NE Business Sale Consultants, we know the small business market from the experience of buying and selling practices, not merely from theory.
2. Confidentiality. Our brokers protect the seller and buyer in every possible way although the selling process does require the sharing of information. Interested buyers are screened and asked to sign a non-disclosure agreement. Using a third-party professional is the optimal way to ensure confidentiality.
3. Packaging and marketing. Because of our broad experience and expertise, we know what makes a firm attractive to a buyer. We can therefore identify strong selling points for each small to medium size practice: things a seller might not even have considered.
4. Finding prospective buyers. We constantly market to buyers through state and chapter publications, websites, direct mail, phone solicitation and trade shows. Our broker also maintain a large database of interested buyers including established firms planning to expand and individuals planning to begin their practice.
5. Buyer qualification. Our broker screen prospective buyers in several ways. They might obtain such things as credit reports and financial statements as well as interview buyers regarding credentials and experience. Sellers do not want to waste time with buyers who may not be qualified or serious.
6. Consultation. Our broker work with owners throughout the process regarding all aspects of the sale, including the terms of sale, financing issues, non-compete and other contract issues, client retention, and practice valuation.
7. Negotiations. Our broker provide important third-party negotiation skills to ensure that the deal gets done under terms that are satisfactory to the seller. This is one of the most underappreciated aspects of what we do.
8. Financing. We have access to financing for the buyer so that the seller can often receive 85-100% cash at closing if the practice and buyer can qualify. We work closely with both SBA and non-SBA lenders who know small to medium size businesses. Our broker provide guidance and valuable experience in seller financing issues when necessary.
9. Large Pools of Buyers. It is simple Economics 101. Sellers can't get the best deal from one or two buyers they met at the local chamber or close friends. The larger the pool of potential buyers the better the chance of getting the right price and the right buyer. We have that pool!
10. Closing. We work hard and produce results; we don't just list practices and wait.
Selling with a contingency. Our buyers often pay full price with no contingencies or future adjustments. Having sold many businesses and practices, our buyers recognize that they have primary control over client retention; Therefore, the seller generally should not bear this risk. As a seller, you cannot afford to have your retirement rest on what someone else does or does not do two or three years down the line.
Selling too cheaply. NE Business Sale Consultants will sell your practice at Fair Market Value. In most situations, this is often more than what the seller believed the practice was worth. Business or Practice owners who attempt to sell on their own often end up selling for a discount and under inferior terms. Our in-depth understanding of the market and access to the largest pool of buyers provides you the best method for finding the right successor at the best price and terms.
Carrying the note when unnecessary. Seller financing is not your only option. We have long standing relationships with various financing sources. They understand this particular market niche and welcome the opportunity to work with our buyers. In many cases, you may be able to receive 100% cash at closing!
Wasting time with unqualified buyers. We work to screen buyers for their experience, ability to obtain financing and aptitude to successfully move your practice forward. Your time is valuable, don’t waste your time with buyers who are not serious or do not have the capability to take over your legacy.
Breaching confidentiality. At NE Business Sale Consultants, our relationship with you begins and ends with confidentiality. We understand the special concerns in this area. Accordingly, every prospective buyer is required to complete a Non-Disclosure Agreement before any confidential information is released to them. We have seen this overlooked many times with sellers attempting to sell on their own.
Trying to sell to an employee or partner. This can appear to be an ideal scenario, but unfortunately, it rarely works; and when it does, it often works more in favor of the buyer than the seller. Even in a good situation, you are forced to adapt to the other person's timetable. Frequently, the buyer in these situations is resistant to taking on financing. These arrangements often lead to long payouts, discounted sales prices, and undesired contingencies.
Working with an ordinary business broker rather than a specialist. Not all brokers are equal. NE Business Sale Consultants broker have unmatched market segment specialization. Simply stated, we are the experts in the local market space.
Paying in advance for brokerage services. Unlike some other brokerage services, NE Business Sale Consultants has no upfront fees or minimal upfront fee (or $995 - $2,750). You pay us nothing until your deal is closed at a price and terms acceptable to you.
Attempting to sell on your own. If you are an expert negotiator with a strong marketing background, a substantial buyer network and a lot of free time, selling on your own may make sense. In all other cases, working with NE Business Sale Consultants will ensure your success. We’ll take care of the consulting, marketing, negotiating and everything else in the selling process so you don’t have to worry about it. You’re an expert at running your practice, we’re the experts at selling it!
Waiting too long. You have invested a great deal of time and effort into building your business or practice. Don’t wait until you are burnt out to start thinking about your exit strategy. Developing a clear time line will benefit you. NE Business Sale Consultants expert will provide you with a free and confidential consultation to assist you in developing a plan that works for your unique situation.