Here’s What a Business Broker Wants to Tell You
Buying a business is different from buying a property or personal items. Hallmark Business Brokers can be your advocate if you want to buy a business, but it does help to understand our process. So, we are offering some insights on what we will tell you as a business broker when you come to us.
- A business may need to be introduced to dozens of prospects before it is sold which is a burden on the owners selling their businesses.
- Having money does not make you more important as a buyer since many buyers have the money needed to buy a business.
- It takes a lot of effort as a broker to sell a business, so we need to determine quickly if you are serious since many buyers never complete the purchase process for any number of reasons.
- If you won’t give us reasonable answers to our questions, you may not be considered a serious buyer.
- If you don’t show us information about you, then we won’t show you information about businesses that interest you. Transparency is needed from both parties for a successful sale.
- If you don’t communicate well with us, then we won’t consider you a serious buyer. Sorry, but we do not have the time to deal with unresponsive buyers.
- If you don’t appear to be flexible in the buying process, we won’t want to work with you.
- If you break any confidentiality with us or tell others about businesses you have seen, you will no longer be a client.
- You must appear motivated and have some knowledge of the business you wish to buy.
- If you are making good money in another field, are you really ready to give that up to buy a business?
- We need to know if there are any barriers in your past that will prevent you from obtaining financing or completing a business purchase.
Although some of these items may seem negative, it is important to understand that you are dealing with existing businesses that are trying to operate while dealing with prospective buyers like you. They want to be cooperative, but they also want assurances they are dealing with a serious buyer not simply someone shopping about for a deal. It takes a lot of time and energy to sell a business, so please be honest and upfront with us and we will work our hardest to find the best business for you.
Hallmark Business Brokers is located in Sarasota Florida and serves business buyers and sellers in our greater area. For more information about our services please call 941-445-4726