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Harbor City Business Brokers
as your broker will allow you to take advantage of some key benefits you get from hiring a reputable broker.
  • They allow you to run your business while it is being marketed for sale
  • They can be a good buffer between you and the buyer
  • They can handle the flow of documentation
  • They have done it before and have likely dealt with most challenges that can arise.
  • Should you decide to engage a broker, these are some things you need to consider:
    Get referrals from your network. Speak with your CPA, attorney, and business associates and see if they can recommend someone to you.

There are two areas where it is strongly suggested that you consult with an attorney when selling a business. The first instance is when you prepare a circular or prospectus summarizing your business for potential buyers, and the second is when you prepare a purchase and sales agreement.

While you may have operated your business successfully year after year, a new buyer without your particular skills, expertise, or personality may easily run into problems. If the business turns out to be less successful or easy to run than the buyer anticipated, he or she may assume that the business was fraudulently represented. One way to reduce the risk of litigation in this is to have an attorney review your circular or prospectus. The attorney will undoubtedly advise you to avoid projecting future sales or profits or at least be extremely careful when doing so.

Even if you are selling a very small business, you should have your attorney review, if not actually prepare, the purchase and sales agreement. Buying and selling businesses is often much more complex than, for example, making real estate transactions.


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