McAllen, Texas Business Brokers | M&A Advisors

Business Broker and M&A Services in McAllen, Texas

Advice for Successful Business Sales

We understand that as a business owner, you probably have never gone through the process of selling a business before.

For this reason, our business brokers place an emphasis on providing you with as much advice as possible to illuminate the business selling process by eliminating any confusion or ambiguity. To help make the business selling process easier, our business brokers provide useful advice and helpful information, including the following:

• Prepare for the Sale: It is always a good idea to prepare for your business sale before you even begin the process. This means: preparing your financial records, performing any property maintenance, removing items that will not be included in the sale, and doing any other tasks that are necessary for selling your business. Try to complete these activities as early in the process as possible so that you are not scrambling to do them later.
• Set Realistic Expectations: All too often business owners set unrealistic expectations for their business sale. They expect the sale to be completed quickly, to receive their full asking price, and to have very few obligations related to the sale. These are unrealistic expectations that have resulted in many businesses going unsold. Remember that these things are in large part dictated by the market, so it is important that you keep perspective and maintain realistic expectations.
• Be Ready to Negotiate: In most negotiations, the initial offer that a buyer makes will be fairly low. You must remember that negotiations are not personal and both sides are working to negotiate the most favorable deal that they can. Taking negotiations personally will always end badly. Remember that the only offer that matters is the one that is negotiated for and agreed to by all parties. Any offer prior to that point is just a step in the process and an invitation to continue negotiating.
• Sell Discreetly: Confidentiality is of upmost importance when you are selling a business. If your customers, competitors, suppliers, or even your employees learn about the sale before it is completed, the results can be disastrous. It is important that you tell as few people as possible about the sale of your business.
• Run Your Business: All too often business owners decide that because someone else will be running the business soon, they no longer need to worry about the daily operations. This is not true. Ensure that your company continues to operate to its fullest potential throughout the sales process. Failure to do this can result in subpar performance and have a devastating impact on your company’s value.
• Get Professional Assistance: Selling your business on your own is a bad idea. Most businesses that are sold privately are sold below their market value and feature deals that are poorly structured. These sales often end in default and legal battles, and they are anything but successful business sales. By selling your business through one of our business brokers at Morgan & Westfield, both of these problems can be prevented.

We will work to get you the highest possible price for your business and we will make sure that the sale is structured correctly to ensure a successful business sale.

Common Mistakes to Avoid

If you have never sold a business before, then there are many things about the sales process that you may not be aware of. You don’t want this lack of knowledge to lead to making innocent yet costly mistakes that most business owners make.

To help you to navigate the process of selling your business and make this process easier for you, our business brokers make it a point to discuss common mistakes made by business owners, early in the process.

We believe that making you aware of these mistakes that could be prevented is an important aspect of our guiding you through the sale of your business. Some of these common mistakes include:

• Working with a buyer that has not been properly screened.
• Working with a business broker that makes unrealistic promises.
• Providing potential buyers with inaccurate information.
• Attempting to hide unfavorable information.
• Releasing information about your company to individuals that have not yet signed a non-disclosure agreement.
• Taking negotiations personally.
• Refusing to consider offers below your full asking price.
• Failing to be accommodating to potential buyers.
• Failing to complete all of your contractual obligations associated with the sale.
• Refusing to utilize professional help.

Business Brokers of McAllen, Texas

At the McAllen, Texas office of Morgan & Westfield, our business brokers provide their advice and technical services to local business owners throughout the Hidalgo County area. We place a particular emphasis on the communities of:

Through exclusively serving these communities, our business brokers have gained a superior understanding of this marketplace, thereby enabling our business brokers to better serve you.

To learn more about how you can benefit from our superior understanding of this Southern Texas marketplace, contact the McAllen, Texas office of Morgan & Westfield today.