If you plan on selling your company, contact a business broker. S/he will be able to guide you through the process. If you operate a company in Charleston SC, chances are you have an idea of the worth of the company. A business broker is there to ensure the process receives complete anonymity. From preparing a valuation to finding the right buyer to negotiating the best terms possible, the broker will provide you with the best options possible. Your broker will also enlighten you on what types of buyers your business is more likely to attract.
Three Basic Types of Buyers
In general, selling your company through a reputable broker draws three potential types of buyers. Each has its own rationale behind purchasing your business. It will be up to you, in partnership with the broker, to decide which of these three types is more suitable to meeting your requirements and specifications of purchase.
Corporate/Strategic Buyers: This group includes established companies. They intend to expand their present company using yours for one of the following reasons:
Diversification of product and/or services
A matter of strategy – to outflank a competitor or improve their position within a specific market e.g. Charleston SC
Entrepreneurs/Former Executives: These experienced individuals have a very high net-worth. Their goal is to create and/ or increase their wealth
Private Investment Groups: This term describes groups or firms who have access to hefty pools of money. They invest in a company to increase the monetary return for their investors. Such groups can often introduce money into a company resulting in advanced technology, improved production, and fast growth or expansion
Selling Your Company
When selling your company in Charleston SC, be sure to listen to what your broker advises. Let him/her help you sort out more than the basic details. Talk to him/her about who will be in the pool of the best possible buyers.