Take it from the business brokerage experts at Rock Rose Realty Inc. that selling a business is not easy, as it looks. People usually believe that selling a business is simple and all you need to do is set a price for your business and wait for a potential buyer who is looking for a “small business for sale near me” to show up. When the buyer knocks on your door and shows an interest, pays the price you quote, and that’s the end of it. In reality, things are not this simple. There are many steps and procedures involved in B2B transactions. Call us today!
Misconceptions Related to Looking For a “Small Business for Sale Near Me”
Selling your business is not easy but with help from a professional business broker, the entire transaction can be life-changing. Here are some common misconceptions that are associated with businesses up for sale.
A Strong Belief that Buyers are willing to Pay More for Potential
If you are one of those business owners who believe that their business for sale has a lot of potential in the future and expect a high price, then, unfortunately, you are wrong. Simply assuming that your business has a potential is not enough to finalize a business deal. The buyer is looking for a regular revenue stream that helps them get a good return on investment.
Buyers are More Interested in the Revenue
The second most common misconception among business sellers is that the buyer is interested in the revenue of the company. In reality, the buyers are keeping a close eye on the profits that every business for sale makes. Most buyers will consider purchasing a business that has more overall profits at the end of the year when all expenses are paid for.
Buyers Don’t Verify the Deposits from the Source
Another misconception about businesses available for sale is that the buyer will not look up and verify the revenue claim from different resources. For example, if you are willing to show revenues from selling advertising space, then you must include all invoices, proof of payment, cash inflows, and similar information in the bank statement.
Keeping Secrets from the Buyer
Some sellers believe that they can get away with some secrets about their business and finish the deal without any issues. However, this is nothing short of a myth and a misconception. You have to be upfront about every aspect of your business. If a particular segment is not working, as it should then mention it to the seller. It’s necessary that you are clear about every single fact about your business in the sales and purchase agreement and should know that any misleading information can lead to a lawsuit by the buyer which can be really expensive at times.
It’s Easy to Find a Buyer
Last but not the least is the fact that many sellers believe that they can find a buyer easily as all they have to do is put up their business for sale. In reality, buyers for a business are very hard to come by and you need the services of a professional business broker to find the right buyer who is willing to pay the right price.
If you are looking for a “small business for sale near me” then contact our highly professional business brokers at Rock Rose Realty Inc to get the best deal.