When someone is considering Selling A Business in Belize we quite frequently get asked to advise clients on how the process should be handled to ensure a successful sale at the best price possible
We have identified some key take aways that all business owners in Belize need to consider
Do you sell your business yourself, do you hire a real estate agent or do you hire trusted advisors that specialize in the sale of businesses? You really need to determine what your objective is.
Is the objective to sell the business without incurring any costs in doing so?
Is the objective to sell the business with the firm that is good at selling condos and houses and perhaps they will give you a reduced commission – or maybe not?
Is the objective to properly value your business, build a case to justify your price, maximize your selling price on your terms and sell your business to well qualified buyers?
Selling your business yourself may sound appealing. You can find a web site to advertise your business, tell your friends, emotionally determine how much your business is worth and hope for the best. Perhaps some interested prospects may not ask to see financials or trade licenses or ask probing questions and you get lucky. The buyers may ask you for financing and golly gee they seem like a very nice couple from Arkansas. Perhaps your business was worth more than you are asking but that’s ok . A year to two later when the new owners run into financial issues because they can’t run the business as well as you did and they stop making payments on the financing you gave them its ok – or is it??
Hiring the local real estate firm who are experts in selling houses and condos is an option – right? They know how to value a house and know the process to put the paper work through. They might not know how to properly value a business, or prepare materials for potential buyers that justify a price more than you were expecting, they may not know how to properly qualify and screen your potential buyers to ensure the buyer has the experience and financial ability to handle the transaction, especially when you are providing financing but they may be willing to shave a point or two off their standard commission rate. A good deal? Perhaps not.
A third option is to hire a firm that understands the requirements to Properly Sell A Business in Belize. A firm that asks the hard questions, that can do a proper valuation of your business and build a marketing program that justifies the valuation, gets you a solid return and on your terms with well qualified buyers. This well defined process reduces your risk and increases your return.
Belize Business Brokers is the only Real Estate firm in Belize that are experts specializing in helping people sell their businesses. Please contact us to discuss how we can help you successfully sell your business for the best price on your terms to qualified buyers.
Belize Business Brokers