Owning a business


I Want to Sell my Business Fast

Paul Cronin

Paul Cronin

January 20, 2024 ⋅ 3 min read

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If you’re a small business owner in the position of needing to sell your business fast, there are three options that tend to take the least amount of time: reaching out to your internal network, finding a business broker, and listing your business for sale through online marketplaces. Since everyone’s personal networks are different, Baton’s experts have outlined the differences between business brokers and online marketplaces. Let’s dive in.

Online Marketplace

Direct access to buyers: Online marketplaces provide a platform where sellers can directly list their businesses, and buyers can browse and inquire. It offers a more direct connection between sellers and potential buyers.

Cost-effective: Using an online marketplace can be more cost-effective than hiring a broker, as sellers typically pay a one-time listing fee rather than a commission.

Control over the process: Sellers have more control over the sale process when using an online marketplace. They can manage their listings, respond to inquiries, and negotiate directly with buyers.

Wide reach: Online marketplaces have a wide reach, attracting buyers from various locations and industries. This can increase the visibility of your business to a diverse pool of potential buyers.

Limited guidance: Sellers using most online marketplaces may have to handle the sale process themselves, including business valuation, negotiation, and legal considerations. This requires a good understanding of the selling process. Baton is different because it matches you with a sales professional to provide as much guidance through your sale as desired.d

Business Broker

Professional guidance: Business brokers are experienced professionals who specialize in facilitating the sale of businesses. They can provide guidance throughout the entire process, from business valuation to closing the deal.

Network of buyers: Brokers often have an established network of potential buyers and contacts within the business community. This can help in reaching a broader audience and identifying qualified buyers.

Confidentiality: Brokers can maintain confidentiality during the sale process, which can be crucial for businesses where confidentiality is a concern (e.g., avoiding employee and customer knowledge of the sale).

Marketing expertise: Brokers have marketing expertise and can create a customized marketing strategy for your business. They may use various channels to attract buyers, both online and offline.

Negotiation skills: Brokers are skilled negotiators and can help navigate the complexities of negotiations to achieve the best possible deal for the seller.

Fees: Business brokers typically charge a commission based on the sale price of the business. This fee is usually negotiated between the seller and the broker. These fees typically cost significantly more than listing your business on a marketplace.

Ultimately, the choice between a business broker and an online marketplace depends on your preferences, the nature of your business, and your specific needs in terms of guidance, confidentiality, and marketing. Some sellers may choose a combination of both approaches for a comprehensive strategy. Baton Market has the benefits on an online marketplace that matches you with our own business brokers and internal experts. Fill out the getting started form on the Baton homepage to learn more today.