Selling a business is not a simple venture, even though many business owners, particularly small business owners, see it initially as a basic transaction. In fact, there are many different aspects to consider in a Las Vegas business sale.
When sellers don’t know about the different aspects of the sale they can leave a lot of money on the table. Buyers can likewise end up paying too much for a business or failing to complete due diligence only to find out they will have additional expenses even after the transaction.
Using a Professional
Before going any further, it is important to realize that there are two different types professionals handling business sales. These are very different types of expertise and should not be confused.
A commercial real estate agent often sells businesses, but they are experts on property values, not of business values. Usually, if a real estate agent is involved, it is a business that is closed down where the sale may include equipment and residual inventory left on the property.
Business brokers are very different. These are the professionals able to valuate the worth of an active business based on the physical assets as well as the business value. The business value can include client lists, customer bases, proprietary information, contracts with suppliers and even business reputation and branding. Additionally, the value of a business can be based on employees that will stay on to run the business during the transition or beyond.
The business brokers also work as the agents for the sellers and buyers in any Las Vegas business sale. They can facilitate negotiation and work with each other and with clients to create a deal that is mutually agreeable to both parties.
At the same time, business brokers will also maintain confidentiality about the sales process, vet prospective buyers, network with other agents to find buyers and also work closely with the seller to provide information, support and guidance.
When selling or buying a Las Vegas business, brokers are a necessity. The more involved the sale will be the more important it is to have these professionals on your side.
