You are not legally obligated to hire a business broker if you are selling a business in Dallas, TX (or the surrounding areas). However, you face major risks if you elect not to work with a business broker to sell your business. In this review, we discuss the importance of working directly with a full-service business broker in Dallas, TX if you are selling your company.
Dallas, TX Business Broker: What Do They Do?
A Dallas, TX business broker represents the seller or the buyer during a business sale or acquisition. They serve as the intermediary between the buyer and the seller, brokering a fair deal that works for both sides.
A full-service business broker, in particular, is involved with every stage of the sale. They start by providing the seller with a professional, market-based business valuation. This determines the amount a fair and reasonable buyer is willing to pay for the company based on rule of thumb data and the company’s unique information.
A business broker also finds potential buyers in a confidential manner and negotiates on your behalf to facilitate a fair deal. In other words, a Dallas business broker does the dirty work for you, so you can focus on maintaining the success of your company and managing daily operations.
What are The Benefits of a Dallas, TX Business Broker?
Many sellers are surprised at how much a business broker does throughout the sales process and how beneficial they are. Specifically, a Dallas business broker can:
- Provide an accurate, objective, and market-focused business valuation
- Help you prepare your sales strategy and long-term vision for yourself and your company
- Maintain the confidentiality of the sale throughout the sales journey, ensuring business operations are not compromised due to news of the sale becoming public
- Ensure you receive full value for your company and sell to a buyer you trust and will continue your vision
- Monitor the due diligence process to ensure the buyer moves efficiently through each sale, which allows both sides to close the sale faster
- Provide assistance and counseling throughout the closing, transfer, and training periods after a deal is reached
Who Needs a Dallas, TX Business Broker?
Anyone who is selling their company in Texas should strongly consider working directly with a full-service Texas business broker. If your company headquarters are in Dallas (or the surrounding regions), then you may need a Dallas, TX business broker to ensure a successful and stress-free sales process.
What are The Risks of Not Using a Dallas, TX Business Broker to Sell My Business?
Sellers who attempt to sell their company without the assistance of a business broker assume the risk of selling below what is considered a fair and reasonable price on the market. This is often the case for several reasons. For one, the seller cannot be entirely sure about their valuation. Even in the event the valuation is accurate, they may not be able to justify it with potential buyers, which leads the seller to lose leverage during negotiations.
In other cases, the business owner may not sell at all. This is particularly the case if they have too high of a valuation and are not able to properly negotiate with potential buyers. Negotiations are a task that your Dallas business broker can handle for you. In other instances, a business owner may not be able to sell simply because they are unable to find potential buyers. A business broker with experience in Dallas understands where to look (and who to contact) to get your sales memorandum in front of the eyes of potential buyers.
Moreover, you run the risk of compromising the privacy of the sale if you do not use a Dallas business broker to sell your company in the Dallas area. As discussed, this is dangerous as it could compromise your business operations and profitability, which subsequently negatively impacts your valuation. A broker can ensure the sale remains confidential, utilizing NDAs, CIMs, private emails and phone numbers, and other methods to ensure no one leaks news of the sale.
Sigma Mergers and Acquisitions are Trusted Dallas Business Brokers
We have more than 20 years of experience as Dallas business brokers and have helped hundreds of business owners sell for fair market value in the Dallas region. As locals to the community ourselves, it is our great pleasure to help the ones we call neighbors with their business sale. Therefore, if you are selling a business in Dallas or the surrounding cities, then contact us today. We can provide you with a free business valuation to get the process started.
Sigma Mergers & Acquisitions sells businesses valued between $1 million and $100 million. We have helped sell 600+ businesses over the past 20 years. We charge NO upfront fees ever, and you pay us only when we sell your business for a price that meets YOUR goals.