It is normal for buyers to feel a sense of apprehension when purchasing a business. As Broker’s, we tend to focus more on preparing sellers for a potential deal – ensuring numbers/records and all logistics are smoothly planned out, than assuring buyers that a good deal is in fact just a good deal!
More often than not you will find yourself with the ‘Skeptical” buyer. What is often lost in translation is the potential for a “Perfect Deal.”
The Perfect Deal:
- Sales and Profits Up
- Accurate Books and Records
- Organized Operations
Frustration occurs for many Brokers when the Perfect Deal arises, and the “Skeptical” client still expects some technicalities or kinks to appear in the process. As a Broker your job is to instill some self-awareness in the buyer and have them consider the following….
- The average buyer has never owned/operated their own business. Therefore, the amount of work initially thought to maintain a successful business, underwhelms the actual amount of man hours required.
- Sellers are in it for a WHOLE different reason. Sellers are individuals who have families, lives and goals of their own. The reason they may be selling a business can certainty differ from the initial reason of conception. It is important to consider all sides and keep in mind this is a monumental decision for all parties involved, patience and guidance is a Broker’s best-friend.
- Buyers it is your responsibility to choose a Broker with care and precession. Do remember that who you decide to represent you has a direct reflection on you as the leader of the transaction. Due Diligence when properly performed, will prevent any issues prior and throughout the transaction.
So just to reiterate, there IS such thing as the perfect deal! The steps to a seamless transaction all dwindle down to your initial choice on your Business Broker, and your trust in their representation. Have ease and confidence that this process can quite literally go perfectly…
