How Business Brokerage Services Can Help You as a New Business Owner

As a new business owner, you have a lot on your plate. While it's an exciting time, it can also be overwhelming navigating everything from business plans to leases, hiring, inventory, and marketing. This is where working with a business broker can save you time, money, and sanity.

Get an Accurate Business Valuation

One of the first things a broker can help you with is determining an accurate valuation of your business. This is key whether you're buying or selling. As a new business owner purchasing an existing business, you want to make sure you don't overpay. If you decide to sell down the road, you'll also want to know your business's true market value. A seasoned business broker has experience valuing companies in your industry. They can consider assets, revenues, growth potential, competition, and other factors to determine a fair asking or purchase price. Having an expert valuation gives you confidence that any deals you make are solid.

Navigate the Legalities and Paperwork

When starting or buying a business, there are bound to be lots of legal documents, permits, licenses, and financing agreements that you'll need to handle. A broker acts as your representative to help explain all these matters in plain English, not confusing legalese. They'll know what paperwork is required for your type of business and can ensure you dot your I's and cross your T's properly. A good business broker will also have relationships with business lawyers, accountants, and financing sources they can connect you with to handle the more complex aspects. Leaning on their expertise saves you headaches down the road.

Get Your Business in Front of Qualified Buyers

As a new business owner, you may not have experience marketing and promoting your business for sale. Brokers make it their full-time job to connect qualified buyers and sellers. They have access to various MLS (multiple listing services) databases of buyers and businesses for sale. An experienced business broker markets your company through both online and offline channels to reach serious, vetted prospects. They handle confidentiality by qualifying buyers before sharing your details. With a broker's marketing savvy, you can sell your business faster and for more money.

Starting or buying a business is a big step filled with unknowns. However, by partnering with a business brokerage firm, you gain guidance and support covering valuation, legalities, marketing, and more. Their expertise allows you to focus on running your new business and setting it up for success. According to Zippia, in the United States, there are over 66,769 business consultants currently employed. If you're looking for brokerage services, reach out to Kingsbridge Brokers to learn more.