Additional information on each question from 50 Questions to Ask a Business Broker When Selling a Business
Q7. For your last sale, what was the original asking price? What was the sales price?
Why should you ask this?
Good brokers possess a deep understanding of the market and ensuring business owners get the best possible price for their business.
They also prioritize a realistic timeline for the sale, typically aiming for a successful transaction within 6 to 9 months, depending on the business type.
Asking about specific past transactions can help you gain insight into their approach to valuation and how accurately they initially priced businesses they worked with.
You can learn how they handle adjustments to the asking price throughout the process, whether because of market shifts, buyer feedback, or new information that comes to light. This can help you assess their ability to adapt and effectively manage the sale process to achieve the best outcome.
