While it depends a lot on your industry and the health of your business, most owner-operators who have worked with a business broker in Colorado Springs would describe it as a positive experience. Oftentimes, the same broker who was used to help an owner find a business is the one they use to sell it later on. That said, if your business is in a very competitive industry and turning a nice profit it could be smarter to list it yourself. BizSale.com is a site that helps connect buyers and sellers of businesses in virtually every category, from pizza shops to child care and everything in between. It offers business owners the opportunity to list their business “for sale by owner” and buyers the ability to do their own research.
If you are interested in buying a business, hiring a business broker in Colorado Springs can help you in the following areas:
- Assessing the sale price to see if it is on target or out of sync with comparable businesses in the same industry;
- Ask the tough questions when dealing with the owner, request financial records, copies of contracts and leases, and payroll information and conduct an independent business valuation;
- Help arrange for you to get additional information on zoning, traffic patterns around the location, trends affecting the industry, etc.
- Be there with you throughout the final negotiation process and be well-versed on seller assisted financing, business lending, valuation and contracts.
Ultimately, a business broker in Colorado Springs can speed up the buying process for you and help you be sure the investment is sound. You can do your own research and conduct a negotiation in any transaction, but it is easy for certain things to be missed by the untrained eye. In a shaky economy, you need to thoroughly research any business opportunity. An experienced business broker in Colorado Springs can help.