3 Mistakes to Avoid When Selling a Business in the Triad

There are times when a business owner in the Triad needs to sell their business quickly. It could be a medical condition or just timing of the market.

However, as the owner of Sunbelt Business Brokers of Durham, I have seen when rushing the process and skipping steps, a few common mistakes can happen. These mistakes may seem small, but they could be the reason a business doesn’t sell.

3 mistakes to avoid when selling a business in the Triad are:

1. Insufficient Preparation: This is the most common problem to see. Business owners know their financials and their books, so they figure someone else will. This may lead to the business looking messy and confusing when a little bit more preparation could have prevented this.
2. Unwillingness to Negotiate: Selling a business is very different from selling anything else – even a home. There has to be a lot of flexibility during the negotiation process. In many cases, this is the reason the business won’t sell because lack of negotiation.
3. Misrepresentation: The business broker who helps sell the business should have an extensive background in preparing businesses to sell and doing the marketing to get an interested buyer for the business. Choosing a great business broker will make or break the sale of the business.

If you are planning on selling a business in the Durham area in the next two years, it is time to start talking to a business broker. Our team at Sunbelt Business Brokers would be honored to help you walk through preparations as well as finding the right buyer. To learn more about our services and to get started, contact us now.