When considering the sale or purchase of a business, it’s important to discuss the realities of business ownership with those who will be most affected. This may seem like common sense, but it is not uncommon for a sale to fall through close to closing because a silent partner, spouse or other closely related party was not completely on board from the beginning.
A business broker can provide helpful information for buyers about what business ownership entails so that prospective buyers and those who will be most affected by the purchase can best evaluate whether business ownership is right for them.
In addition, an experienced business broker will also take steps to ensure that all parties involved on the sell side are also on board. It’s best to know before closing that all necessary parties (spouses, children, business partners, etc.) are 100% on board.