Selling a business is about more than simply finding a buyer and signing a contract. The process involves negotiations, due diligence, financial analysis, and legal documentation that can significantly impact the outcome. For that reason, assembling the right team of professionals is essential. Having the right advisors around the table helps protect your interests and ensures the sale moves forward smoothly.
This group is often referred to as the “deal team.” At its core, it typically includes four key professionals: an attorney, a CPA, a financial advisor, and a business broker. Each brings a specialized perspective that contributes to the success of the transaction.
An experienced business attorney is indispensable during a sale. Their role is to draft and review contracts, protect you from unnecessary liability, and make sure the terms of the deal are legally sound.
They can also anticipate potential legal issues that may arise, such as intellectual property rights, employee agreements, or environmental regulations.
By having an attorney involved early, you can address these matters before they become stumbling blocks in negotiations.
A certified public accountant provides clarity on the financial side of the sale. They prepare and organize your financial records, which buyers will scrutinize during due diligence.
Your CPA can also advise on how to structure the transaction in a way that minimizes tax exposure. For example, the decision between an asset sale and a stock sale carries very different tax implications.
With the guidance of a CPA, you can understand the financial impact of these choices and plan accordingly.
While the attorney and CPA focus on the mechanics of the transaction, your financial advisor looks at the bigger picture.
Selling a business is not only about the price you receive; it is about how that sale fits into your long-term financial goals. A financial advisor helps you determine what you need from the sale to secure retirement, fund other investments, or support your family’s future.
They also guide you on how to allocate the proceeds once the deal closes, ensuring your money continues to work for you.
A business broker is more than just a connector between sellers and buyers. They manage the entire process from start to finish. From preparing your business for the market to closing the deal, the broker keeps everything moving forward and ensures no critical steps are missed.
They coordinate and manage all key players, including your CPA and attorney, as well as the buyer’s CPA and attorney. In many transactions, the broker also oversees the transfer of licenses and regulatory approvals, such as clearance certificates or tax certificates, so the business can legally and smoothly change hands.
A skilled broker, like Murphy Business, helps you avoid unqualified prospects, creates competitive interest among serious buyers, and makes sure negotiations stay on track and professional. With the broker leading the process, you can focus on running your business while knowing every detail of the transaction is under control.
While each professional on your deal team – attorney, CPA, financial advisor, and broker – has a defined role, the broker ensures everyone’s efforts are coordinated and directed toward the same goal.
Your attorney and CPA may focus on deal structure, while your financial advisor helps set expectations, but it’s often the broker who manages the timing, communication, and flow between all parties.
With this level of oversight, your deal team functions as a unified group working in your best interest. The result is a smoother, more efficient transaction where every aspect is handled with precision and care.
If you’re ready to explore the sale of your business, reach out to the experts at Murphy Business – Emerald Coast. With their experience in business sales, they can help you navigate the complexities and guide you to make the right decision at the best time. Contact them at (850) 374-8884 or complete their contact form to get started on your business succession journey.
