Mergers & Acquisitions Advisory

A Neumann & Associates, LLC

October 2, 2019

How to Choose the Right Business Broker in New York for You!

By Achim Neumann


The business environment in New York is expansive, with the City alone contributing 8% to the total GDP of the US. For this reason, lots of small businesses are created on a regular basis and many of them grow to be successful in their verticals.

Inevitably, those viable businesses will eventually be transitioned to competitors, family, sold off, etc. so a business broker is required. If you are a business owner in New York looking to sell your company, here are some questions you can ask to help you choose the right one.

Take a Look at the Credentials and Experience

The first thing to do when looking at possible business brokers to work with is to consider their credentials and experience. Are they certified in the field of Mergers and Acquisitions and Business Brokerage, or is most of their work in the field of real estate? How long have they worked in business brokerage and how many business sales have they successfully brokered in the past? Do they have a viable website with the background of their principals?

Ask About Valuation Plans and Practices

Before a business can be sold, its value must be properly determined. Does the broker have a plan for handling the business valuation and are there past samples of valuations related to your business that are available for you to see? Does the broker partner with competent and reputable firms or is their idea of valuation simply offering an in-house estimate? If using a 3rd party, accredited valuation firm, how confident will the firm be of the valuation and will they be able to defend it in court if needed? If the business sale process goes on longer than expected, will updates to the valuation be provided at a marginal small fee, or is it a fully added cost?

Discuss The Broker’s Marketing Plans

With an understanding of how to value a business, the next set of questions to ask a potential business broker in New York have to do with marketing. Your business is important to you, and you will need to know how the broker will attract the right type of buyers for it. Does the broker have a plan for marketing and can the plan be shared with you? Does the broker conduct operations within a network, which will give access to a bigger pool of buyers? Can the broker find buyers for your business while maintaining complete confidentiality? What are the buyer pre-qualification requirements implemented by the broker?

Discuss Fees

Business Brokers in NY or anywhere else typically charge 7% – 15% from the sale price of the business as a commission, with larger transactions typically receiving a lower fee. Is this broker certain that (s)he has the capacity to sell the business or is an advance/retainer required? Will you be expected to cover the cost of marketing, traveling, and other expenses in separate payments? Will any unexpected charges suddenly appear after the sale has been completed?

The questions above will prove invaluable when trying to choose the right business broker because they show you who the most competent broker is. Choosing and working with a competent business broker improves the chances that you will achieve your goal of selling your business for the best possible price and terms.

 

About A Neumann & Associates, LLC

A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or info@neumannassociates.com

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Client Testimonials

“I recently contacted A. Neumann and Associates about getting a valuation of my business done. I spoke with Marc, who explained the process in detail. After meeting with Marc in order to get a clear understanding of my business, and what I was hoping to accomplish. His patience in answering all my questions and his knowledge of the proper way to market my business gave me great confidence that this is the firm I will be using to sell my business for max value. Working with Marc at A Neumann & Associates was very easy and professional. I did not know all that was going to be involved in selling my business but they helped me through the process. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. I highly recommend this firm to anybody who wants to sell now or down the road. Marc not only knows his stuff, but actually is a real nice guy.”

Double Diamond

“Used A Neumann & Associates to sale my business. could not imagine having done it with out the patience and experience Gary provided. Thanks Gary,”

Dennis Frazier

“Working with Marc and his company was a pleasure. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. Marc handled most of the interaction and he has one of the greatest demeanors. Again, it was a pleasure working with him and his firm.”

Douglas DiCeglio

“I recently completed an acquisition using A Neumann & Associates. Tony Valentino was very helpful and accessible during the entire process. They do a thorough job vetting both parties and got us to the finish line.”

Srini Mudambi

“Claus out of Florida helped us with the sale of our business. We had never done anything like this and him and his team walked us through the process from start to finish. We had some challenges through the process and Claus continued to show up even in the difficult conversations.”

Colby Harris, Co-Owner, Del Mar Designs

“Claus Madsen thoroughly helped us with selling our company. From the 1st introductory meeting explaining to us what was possible, to providing us with resources to assist with the sale. Claus was invaluable throughout the whole sales process. Claus was with us every step of the journey and always made himself available for any questions or issues that came up along the way. If you are interested in selling your business, I encourage you to reach out to Claus and the ANA team so that they can let you know what’s achievable. These guys will make it happen!”

Ron Harris, Co-Owner and Vice President, Del Mar Designs

“A Neumann & Associates is the only business broker I would use or consult with. They have assisted with 3 business sales over the past 15 years with me. They are honest and sincere and have always performed better than my expectations. They are the only one i would use for the sales of my businesses.”

James Belanger, Business Owner

“I wanted to take a second to commend the exemplary customer service from both you [Karin Neumann] and Mr. Valentino. It’s both a rarity in the industry, and very much appreciated.”

Andrew G., Investor

“We worked with Neumann & Associates to investigate the purchase of a research company in 2010 and found Achim to be capable, forthright and realistic. His depth of experience enabled us to fully understand our options, offering creative options that might enable the acquisition. While we didn’t acquire that particular company at that time, we know exactly who to call whenever we’re looking to buy or sell a business.”

Daniel Coates, Buyer

“Purchasing a business through this firm was a pleasure. Gary was very professional and transparent throughout the entire process. I look forward to working with A Neumann & Associates in the future.”

William Klemens, Buyer
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Contact A Neumann & Associates, LLC

If you are considering selling your business, please contact us to learn more about our comprehensive service spectrum. Our experienced professionals will answer all your questions about selling a privately held business in complete confidentiality. Please fill out our contact form, or call us at 732-872-6777. We will contact you directly and will never identify ourselves to your employees.

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