Georgia Business Broker
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Are You Considering Selling Your Georgia Business?
Are you an entrepreneur looking for the right firm to sell your business or an investor group looking for the right company to acquire in Georgia? This article is for you. Below, we will give you insight into Georgia business brokers that will inform you of everything you need to know.
A business broker is an individual or company that assists buyers and sellers of private businesses in purchasing and selling. The agents specialize in acquiring and marketing companies with specific characteristics. They will help companies secure a fair price, organize the paperwork, and prepare the licensing and permitting required.
What Are The Benefits of Using A Business Broker?
All over the world, buyers and sellers of companies will use a business broker to assist with the business-for-sale transaction, and for an excellent reason. A business broker can help with the following aspects:
Streamline the sales process
Streamlining makes a company more efficient by adopting faster and simpler working methods. When a business broker is helping you sell a business in Georgia, they will curate a transparent process that everyone will follow. This will ensure everyone knows where each deal is and what steps to take next. Streamlining the sales process will ensure that time is saved and will minimize risks.
Provide a Business Valuation
Business valuation is the process of determining the current economic worth of a company. A business broker will use various valuation techniques to determine a fair price that you should pay or receive for the company. The brokers may use the liquidation value method, or they can use an asset-based valuation method where they will focus on the value of a company’s assets after deducting the liabilities. When the assets are evaluated, the fair market value will be obtained.
When selling a business in Georgia, one will have to take their business to the market by advertising it to the public. A business broker will develop a marketing plan that highlights what is unique about your business and promote the business through business-listing websites or business journals. They can also choose to take a more targeted marketing strategy by approaching specific buyers interested in the business or performing an industry search to identify potential buyers within the industry.
Acces to Buyers
Since business brokers act as intermediaries, they will always have access to the people in the market for business purchases. They will also attract and screen potential buyers fast, saving the business owners the time and money it takes to search for potential buyers. This is especially helpful to first-time business owners in the selling market.
Selling a business can be such a sensitive endeavor. When selling a business, you can’t advertise certain confidential information about the company. A business broker will ensure that a confidentiality agreement is presented to everyone involved in the business selling process. Privileged information about the business is garnered while conducting the transaction. The confidential agreement prevents the misuse of this information. Also, the employees and customers of the company mustn’t know about the sale to avoid panic.
Why Hire A Business Broker to Sell A Business?
There are several reasons a seller may want to enlist the help of a business broker. Here are a few examples:
A business broker comes in as a third party and will be better positioned to negotiate a deal between the seller and the buyer. There can be an emotional attachment to the business as a business owner since it’s something they’ve built from scratch. The broker’s objective perspective will help see the company from a different point of view.
HIGH SELLING PRICE
An experienced business broker will preferably present the business, so it gets to the seller’s asking price. It is easier for a business owner to sell the business at a higher price through a broker than if they negotiated the sale themselves.
In buying and selling a business, there is a lot of paperwork necessary for the deal to occur. A business broker can retrieve all the documents you need, from permits to food licenses. They will also know which paperwork and tax documents are required for potential buyers, ensuring the business sale is organized.
Banks and private lenders will work with business brokers to help qualified buyers with financing. Business brokers’ networks and connections within the lending industry will help the buyers finalize the business purchase.
Jim Kniffen, Founder and President of Gulfstream Mergers & Acquisitions
Mr. Kniffen has a passion for business and for helping our clients achieve their business goals, and is personally involved with each and every client and deal that our company handles. Mr. Kniffen has over thirty years of business experience, first as a successful entrepreneur and then as founder of successful M&A companies earning a reputation for excellence and ethics in the complex arena of business mergers & acquisitions. Mr. Kniffen has extensive expertise in business and enterprise valuation, due diligence analysis, alternative sources of acquisition financing, and complex business consultation. Jim is also a sought-after public speaker by accounting and financial groups for his expertise in the complete sales process, especially in the difficult areas of valuation and financing.
Mr. Kniffen received his graduate degree from Florida Atlantic University at Boca Raton in 1976. Mr. Kniffen is a member of The Alliance of Merger and Acquisition Advisors, is a Charter Member of the Association of Professional Merger & Acquisition Advisors, and is a Founding member of The Society for Leadership of Change (SLC).
Steps To Selling A Business In Georgia
When you have a solid reason to sell your business, the first step will be to gather information about the business. You should get together items like:
- Profit and loss statements of the past three years
- Names of outside advisors
- The lease and any lease-related documents
- List of fixtures and equipment
- The loans borrowed against the business. Ensure that you indicate the amount and payment schedule.
It will be essential to have the business’ financial statements current and accurate. This is because prospective buyers will want a review of the financial figures. As a tip, the Federal Tax Law will determine how much money you can keep after selling the business.
The next step will be to identify the buyers. The buyer has to be as serious as you, the business seller. A buyer may want to buy the business due to job dissatisfaction, early retirement, or the desire to venture into something of interest. As the seller, you have to ensure the buyer desires to purchase the business, has the financial resources, and has a reasonable expectation of what the company can offer them.
You will then have to consider what the buyers want to know about the business. You might be asked questions like:
- What is the profit like?
- How much is the debt?
- Why is the business unique?
- How can the buyer add value to the business?
Ensure that you are prepared to answer the questions. Keep in mind that most buyers want cash flow. You will have to sit down with your assistant and get your financial statement in order.
You also have to look at what you can do to ensure the business is appealing enough for the buyer to want it. You can create a business operational manual to make the business look more put-together. Having the ads that you have placed in a catalog or featured publications is also impressive. Include everything about the business that might be helpful to the buyer.
Finally, you have to look at the business from the buyer’s perspective. This will help you identify some of the flaws in the business that can hinder the sale. Remember, first impressions count, and if a potential buyer doesn’t like your business’ appearance, there will be no chance of moving forward with the sale.
If you’re ready to sell your business, it’s essential to find the right Alabama business broker to help you through the process.
With their experience and knowledge of the market, they can help you get the best price for your company. Follow these tips to find the right broker for you and ensure your sale goes smoothly.
Why Choose Gulfstream Mergers?
After learning about selling a business in Georgia using business brokers, you will want to know why choose Gulfstream Mergers & Acquisition is a firm of Georgia business brokers. They have been in the business for over 20 years. They are the recipients of the 2016 Financial Advisor of the Year by Acquisition International. They are the nation’s leading M&A firms. With the successful representation of hundreds of companies throughout the USA, they have an established reputation for excellent results.
Gulfstream Mergers will be a steadfast ally, whether you are looking to sell your company or you are a buyer looking for the right company to acquire.
The team at Gulfstream Mergers will provide services such as:
- Market valuation of the company
- In-depth negotiating skills
- Sources of financing
So, if you are a business owner looking for a firm to manage the sale of your business or a private investor in the market to buy a business, look no further. Gulfstream Mergers and Acquisition will be the best place for you!
Contact Us Today for a Free Confidential Business Consultation
Gulfstream will send one of our Senior Level Executives to meet with you at a location of your choosing to ensure confidentiality. Call 1-704-892-5151 or click the button below to schedule your consultation. See for yourself what it’s like to work with experienced veteran professionals and experience the Gulfstream Mergers and Acquisitions difference for yourself!
NOTE: All Information Provided Is Kept 100% Confidential