Selling an existing business can be painful for a host of reasons. Reasons include both emotional and rational. Emotional reasons are obviously overcome rather easily compared to rational reasons. Once having decided on selling your business, next step is to decide on mode of selling the business. There are two options – advertising and broker.
Both the options have their pros and cons. While advertising saves on substantial brokerage costs, the results are likely to be quite uncertain. Whole process right from advertising to meeting the customers and closing the deal has to be managed by the seller, i.e., the small business owner. Brokers, on the other hand free the seller for finding the prospective customers and appraising the business. They certainly charge fees ranging from 8% to 15% for the deal, it proves to be worth most of the times.