A business selling services can amass a large, loyal client base, making these companies valuable to interested buyers. Whether you’re looking to sell your service business because you’re ready to retire or because you want to invest in a new venture, there are a few considerations to make before moving forward with the sale.
If you want to sell your service business, you may be wondering how to choose the right business broker with experience selling service-based businesses. You may also be concerned about protecting your confidentiality and getting the most you can for your business. At Synergy Business Brokers, we provide the information and support you need so you can proceed with confidence.
Synergy Business Brokers has been selling businesses confidentially since 2002. We specialize in selling service businesses with annual revenues between $700,000 to $70 million. We have sold a wide variety of service businesses, including:
Selling a service business is a multi-step process. To successfully sell your business when you partner with Synergy Business Brokers, follow the steps below.
Getting the right asking price for your business is essential in the sales process. When selling a service-based company, your assets and liabilities do not tell the main story. There’s your cash flow, the number of employees, how skilled they are, how much work they bring in, the types of clients you have, and more.
Many factors go into pricing a professional services business for sale. We will learn more about your business and review your financial information to provide you with a recommended price. There is no fee until your company is sold. Without an experienced Business Broker who can fully assess your business’s worth and give you a reliable estimate, you may be leaving money on the negotiating table when it comes time to price your business.
Your financial records can prove your service company’s profits and success. Financial records you may want to prepare before selling your business include:
Having all of these documents gathered and prepared can make it easier to pass off your business to the next owner.
You want someone who has experience selling professional services businesses and has a pool of potential buyers to draw from for a wide variety of service businesses. Unlike most business brokers, we don’t sell retail companies, so our primary focus is selling service companies in a timely fashion for the best possible price.
Our experience selling B2B and B2C service businesses provides us with the right background to effectively position your company for sale and ensure it attracts the right buyers. Our experience also allows us to speak the language of niche service industries.
As service business owners ourselves, we understand that selling a service business is different than selling a product business. We will work with you to develop a marketing plan that will attract potential buyers without giving away the identity of your business until a prospective buyer has signed a confidentiality agreement and provided information on their qualifications to buy your business.
Next, we will guide you through the process as we introduce potential buyers, negotiate offers, and close the deal. Our comprehensive marketing services use social media, digital marketing, our network of contacts, and more to maximize your sale price.
In some cases, you may also have the option to merge your business with another. While some buyers may be looking to start fresh with a service business, others may seek to merge with or acquire a similar company. There are two main types of mergers:
There are several benefits to merging a business, such as:
At Synergy Business Brokers, we can guide you through mergers and acquisitions (M&A). We can identify the businesses with the greatest opportunities for M&A and partner with you to ensure the deal’s success.
If you’re ready to sell your company and need a business broker with experience in your area, Synergy Business Brokers can help. Since 2002, we have been helping businesses throughout the Northeast, the South, Midwest, and beyond.
We have many years of experience handling mergers and acquisitions for service companies. If you’d like to find out more, you can call us at 888-750-5950 or fill out our contact form, and we’ll be in touch to set up your private brokerage consultation.