Whether a person is selling or buying a small business, they will ultimately find a Houston business broker to be a vital partner in their quest. The key to success, however, lies in finding a Houston business broker with the right qualities, and this is the area in which many business owners struggle. Below are some qualities you should look for when working to sell or acquire a business.
#1 Networking & Professional Connections
First, a great business broker should have a large database network to draw on. This network will consist of industry organizations, networking groups, the Better Business Bureau, the local chamber of commerce, professional broker associations, and more. The more people he or she interacts with regularly, the more opportunities a broker will have to market your business to potential buyers and/or sellers.
#2 Professional Expertise & Strategy
Great business brokers will possess the professional skills to develop, implement, and follow through on effective marketing plans and strategies based on the prospective target audience, regardless of your industry. However, another advantage would be to find a broker who only specializes in your business industry. Before putting your business on the market, experienced brokers will make sure your paperwork, assets, and legal issues are resolved and properly prepared for sell. They will be willing to share what marketing tools will be used, and why they are most effective. Ultimately, knowledgeable brokers will create realistic plans to connect to companies and prospective buyers looking to invest in the market; or do thorough research on businesses to help potential buyers before a sale.
#3 An Exceptional Financial Record
Find a broker with a solid financial record. He or she will be willing to show their record of sale and how many businesses they’ve assisted resulting in closure. Realtors are fine for people who are simply looking to buy the most attractive real estate for their company. However, a business broker who understands the intricacies of buying or selling your business, and can provide information about the short and long-term chances of the business, is much better for success in this situation. He or she conveys the benefits of buying the business to prospective buyers, and emphasizes the strong points on behalf of the seller. Many realtors may not go this far into detail when working with clients interested in commercial real estate.
Connect with Del Lingco International to learn more about the benefits of working with a Houston business broker, and why this is significant when buying or selling a business. We will be happy to put our nearly 60 years of experience to work for you, and address any questions or concerns you may have. Your success is our success!
Call us at 713.783.5800, or connect online at Del Lingco International.