Looking to sell your company? If you are a small businessman or woman looking to sell your business, you might be able to do so without going through a broker. After all, as the owner of a small business, there might not be enough money involved to pay for the broker’s fee, especially in the case of a distressed sale where liabilities may be present. But of course, as with all do-it-yourself ideas, there are key points to keep in mind, and you should exercise all due diligence in researching the matter before committing.
At this point, it’s a great time to pause for a brief reminder that this article constitutes mere opinion only and should not under any circumstances be considered advice of any kind whatsoever. Always consult with the relevant properly licensed and/or otherwise qualified professionals when making decisions of any financial consequence. Neither the author nor the publisher shall be held responsible for providing information meant strictly for purposes of human interest!
Okay, now, with that disclaimer out of the way, let’s get back to discussing how to sell your business without a broker: the most crucial thing to recognize when attempting such a transaction your self is that you should be absolutely prepared, just as if you were being represented or otherwise helped by a broker.
A professional business broker would not put a business on the market unless it’s truly prepared to bebought, and so neither should you! Many a would-be sale is lost due to delays due to the necessary documents not being prepared or the necessary facts not being available.
Nonetheless, realize that while you need to thoroughly vet prospective buyers and make sure they sign a non-disclosure agreement, you your self should not disclose everything prior to actually accepting an offer! This is to protect your corporate secrets in case the deal falls through. But do make sure that any negative information is disclosed right from the beginning.
