FREQUENTLY ASKED QUESTIONS
How do I know if my business is ready to sell?
Our team can help you determine if your business is ready to sell by conducting a thorough analysis of your financials, operations, and market position. We will also work with you to identify any areas of improvement that may increase the value of your business. Take our 5 minute quiz.
How long does it typically take to sell a business?
The length of time it takes to sell a business varies depending on a the industry, size of the business, and market conditions. However, on average, it can take between 6 and 12 months to sell a business.
52% of businesses listed for sale do not sell. Let’s have a conversation about that.
How do you value a business?
We use a variety of methods to value a business, including analyzing financial statements, market trends, and comparable sales in the industry. We also take into account non-financial factors such as the strength of the management team and the competitive advantages of the business.
How much does it cost to use a business broker?
The cost of using a business broker varies depending on the services provided and the size of the business. Typically, a broker will charge a success fee on the final sale price of the business. At Vossmosis Business Brokerage, we are transparent about our fees and work with our clients to ensure they are getting the best value for their money.
As licensed real estate agents, we can also assist in the transfer of real property.
Do I need to have experience in the industry to buy a business?
While having experience in the industry is helpful, it is not always necessary to successfully buy a business. Our team can help you identify businesses that align with your skills and interests, and provide guidance throughout the acquisition process.
Sellers will often provide some level of training or ongoing assistance.
What information do I need to provide to sell my business?
In order to sell your business, we will need to gather information such as financial statements, tax returns, employee information, and details about the operations of the business. Our team will prepare a confidential business review to provide to potential buyers that serves as the primary presentation of the business history and opportunities. Think annual report.
Buyers will typically take a deep dive into the business after a Letter of Intent is signed and during the due diligence process.
What is the role of a business broker in the sales process?
A business broker acts as an intermediary between the seller and potential buyers, managing the sales process from start to finish. Brokers help sellers prepare their businesses for sale, find qualified buyers, and negotiate the terms of the sale. They also ensure the transaction is conducted in a confidential and professional manner.
Can I sell my business on my own?
Of course, but using a business broker can bring many benefits to a seller.
Marketing: Finding potential buyers that are a good fit for the business.
Consultation: Guidance on pricing and negotiations, assistance with due diligence and closing the deal.
Confidentiality: A broker can help keep the sales process out of the eye of employees, clients and competitors.
Focus: Owners need to operate their companies successfully during this period. A broker limits the time, additional work and interruptions inherent in the sales process.
