You’ve worked to build your business, and now that you’ve decided to sell you want to make sure you get the most money for your efforts. A licensed business broker in St. Paul can help sell your business for top dollar, but only if you choose this person wisely. Here are 3 tips for choosing a broker who will look out for your financial interests. Credentials From the very start, you need to make sure the broker you’re considering has the right credentials. Brokers should be able to show that they continually educate themselves and are knowledgeable of current industry practices. Qualified individuals should belong to the Business Brokers Association (IBBA) at the minimum. However, the more state broker and professional broker associations that the candidate belongs to the more likely it is that he or she meets a high standard of ethical practices. Invested Selling a business is not like selling a house. It requires a special set of skills and the broker should be as invested in the final outcome as you are. Ideally, you’ll be in a better position if you choose a broker who has a history of selling businesses in the same industry as yours – even better if he or she has sold businesses similar in nature to yours. Attentive Individuals who are selling several businesses at one time may not have the time to properly promote your listing, screen potential buyers, and be available to answer questions. If the broker you’re considering is reluctant to provide you with information related to how many other businesses he or she is promoting for sale, consider moving on. Don’t rush into hiring a business broker in St. Paul. Take your time so you get top dollar for the business you worked hard to build.
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