When business owners are looking to transition out of their business for a variety of reasons – relocation, retirement, and change of career – they are presented with multiple options in regards to the future of their company. Should they close? Transfer to an employee or family member? Or sell? And if they sell should they do it on their on or through a business broker.
If the choice is to sell, a relationship with a business broker can provide an easier transaction with multiple and higher dollar offers. No matter what the business owner decides, they should work with someone who is an experienced business professional and active in the business brokerage community. In Colorado, business brokers should have active real estate licenses and be affiliated with our state brokerage association, Colorado Association of Business Intermediaries (CABI) as well as the International Business Brokers Association (IBBA).
For more helpful tips on finding the right business broker to help sell your business, read this article by Inc. Magazine, “Finding the Right Business Broker for your Business.” It includes helpful information from industry experts, including Transworld’s CEO, Andy Cagnetta.