Maximizing Success with a Local Sydney Business Broker

Every business owner faces the same questions when selling their business - do they hire a broker or try to sell their business privately? With a broker in your corner, your reach extends way beyond what you could do on your own, even if you own a recognised and reputable business. But let’s look at a few other reasons why hiring a business broker in Sydney might be in your best interest. 

Is it worth hiring a business broker when selling?

Small business owners generally have an easier time selling without the help of a business broker; however, having their expertise and experience on your side always helps. However, if you’re confident you can manage all the details, then a private sale might be best for you, as the cost of a business broker might not be worth the sale. Large businesses or corporations would benefit significantly more from hiring a business broker. 

Why it would be beneficial to hire a Sydney-based business broker

Here are some compelling reasons why we think a Sydney-based business brokerage company, like Lloyds Business Brokers, which is one of the best in Sydney, would be beneficial if you’re trying to sell your business in Sydney:

They know the industry

Sydney is a large city with brokerages working with Australian and international clientele. Here, we think it's safe to say that you’ll have access to business brokers who have an in-depth understanding of the industry and market and the know-how to effectively sell your business for what it’s worth. You can rest assured that your business will be in good hands as you’re walked through the process of selling your business.

For the expertise and marketing knowledge

Not only do they have an understanding of the business sales industry, but you might also find a broker who has experience with business in the same industry as yours. This experience will allow them to effectively create a successful marketing plan for your business and provide them with insight into the target audience to whom you want to present your business. In the end, you might be handing your business to someone in the industry whom you know and trust to take your business to new heights.

Network and access to investors

One of the major benefits of hiring a reputable business broker is that they usually have a network of businessmen and investors who might be interested in buying your business. Business brokers develop these networks by building trust relationships that are mutually beneficial for the investor and broker. Thus, when they approach their network with a potential sale, their contact would trust that they’re looking at a potentially lucrative business opportunity. This means that you may get a buyer sooner and one that suits your business. 

For their professionalism and commitment to confidentiality

Business brokers build their reputations on trust and results. For trust, they need to maintain confidentiality during a sale, and for results, they need to sell their client's businesses with a reasonable turnaround time and for a good price. 

Confidentiality in a business sale is vital, as any information leaks could negatively impact the business's daily operations, such as customer and supplier relationships or employee morale. Brokers understand this and make every effort to keep confidential information protected until it needs to be disclosed. 

Access to other qualified professionals

Another key benefit of hiring a broker is that they have access to other professionals who may work in the

same corporation or in partnership with them, such as lawyers, accountants, and tax advisors. Chances are if you sell your business privately, you’ll have to contact these individuals anyway. With access to these individuals, the legalities of your sale should go smoother. 

You get to maintain focus on your business

Finally, you get to focus on maintaining your business and improving the different functions needed to increase its value before the valuation is done. Business sales take a lot of time and effort. Think about it: you still have to run your business, implement strategies to improve its value, market it effectively, negotiate with potential buyers, process all the legalities, and, in the end, facilitate the transfer of ownership, too. All the extra work could negatively affect your ability to run day-to-day operations, hurting your business's value. 

Final Thoughts

So, why should you hire a business broker in Sydney? For their knowledge of the industry, their marketing resources and network of potential investors, their commitment to professionalism and confidentiality, and for an overall smoother transaction for your sale. With these benefits in mind, we believe the ends justify the means. Every situation is unique, so weigh up the factors around your business before deciding.