When you want to sell your business, what’s the best way to go about it? Well, there are a few things you can do to make sure you get the right amount of money for your business while also being sure it goes to the right person who will continue your business’ success in the future. In this Raincatcher Business Broker review, we’ll explore some of the ways that Raincatcher may possibly help you to navigate this process and why they may be the best choice when you need to sell your business fast.
Overview Of Raincatcher Business Broker
Raincatcher is a business broker that caters to small and medium-sized businesses looking to sell their company. The process of selling a business can be complex and confusing, which is why Raincatcher provides users with a comprehensive list of services that guide sellers through each step of the sale process. Smaller businesses are often sold off individually or in groups, making them ideal candidates for business brokers.
Raincatcher’s comprehensive services are tailored to meet sellers’ needs at every stage of business sales. The broker offers a consultation service, helping potential buyers determine what they can offer in terms of capital and advice. From there, Raincatcher provides expert advice on price discovery—the process by which potential buyers determine how much your company is worth.
In addition to providing support throughout negotiations, Raincatcher will help manage every aspect of a sale. Services include analyzing valuations and advising sellers on price, managing offers made by potential buyers, conducting due diligence on buyers, negotiating contracts and agreements with prospective sellers, and closing deals. If an agreement is made through Raincatcher’s services, Raincatcher will work with accountants to determine tax liabilities for both parties involved in a deal. It can even handle out-of-state transactions if needed.
Raincatcher also assists with navigating legal requirements during sales. Because every state has different laws surrounding business sales, Raincatcher is well versed in these regulations and can provide expert guidance on how to handle them effectively. When necessary, Raincatcher will help you acquire all of the permits and licenses needed to make a sale happen.
Types Of Businesses Raincatcher Business Broker Sells
Raincatcher specializes in working with clients interested in transitioning their businesses. You can find great businesses on Raincatcher, and potentially buy and sell your business on Raincatcher as well. Here’s a quick rundown of just some of their offerings: Retail, Manufacturing, Professional Services (Architecture, Design, etc.), Healthcare, Restaurants/Bars/Pubs/Cafes/, Construction & Contracting. Within each category there are dozens of different industries to choose from so you can be sure to find a business that fits you! Raincatcher is one of several companies that helps match up buyers and sellers; if you think there’s a match for your business they may help facilitate a deal.
This can be especially helpful for business owners looking to get out of their business, but it’s also great if you just want to sell your business for fun or because you want to retire! So if you’re an entrepreneur who has thought about selling their business, or even starting a new business entirely, take a look at Raincatcher.
Raincatcher Business Broker Valuation Process
At Raincatcher, they pride themselves on understanding each of their clients’ unique situations. Not only do they want to help you sell your business, but they also want to make sure that whoever buys it is a good fit for both you and your company. As such, they take a much more holistic approach when valuing a business than most other brokers out there.
The valuation process is a value-added service provided to all of their clients. They’ve found that many business brokers don’t take such an in-depth approach and just base their assessments on revenue alone. This is problematic because when valuing a business, you’re not just looking at how much money it makes, but also about how much future potential it has.
Valuation services will include:
- A review of your financial statements and key metrics;
- An assessment of your sales pipeline;
- Analysis and projections for growth;
- A review of your long-term goals and overall strategy;
- Any additional factors could be relevant to you or your business’s unique needs.
The benefits of using a firm like Raincatcher to sell your business are numerous. First, you get an experienced and reputable broker who will treat you with respect and help find a good fit for your company. Second, Raincatcher’s valuation services offer a level of transparency not found elsewhere. While their methods aren’t 100% quantitative, they’re much more thorough than those used by other brokers out there.
Overall, Raincatcher’s valuation process is designed to help you make an informed decision. The last thing you want to do is sell your business only to realize later that it wasn’t quite worth what you thought it was. Whether you choose to use them or not, at least take advantage of their free analysis services before making a final decision. It could end up saving you thousands of dollars and tons of headaches down the road. If they can’t help you now, at least they’ll be able to point you in the right direction as you move forward with your company’s future.
Sales Process for Sellers
Negotiating a fair deal is probably your biggest concern as a seller. When starting with a business broker, it’s important to know that you won’t be giving up any information about your business until an offer has been made. Once an offer has been made, if you accept, a contract will be drawn up and you can proceed from there. If you don’t accept or feel uncomfortable with a proposal, it never even becomes public knowledge.
Raincatcher’s sales process for sellers gives you full control over when information about your business is made public. You don’t have to fear that your company will become a target of theft, or be concerned that vital information about your operation will become available to competitors. Sellers can rest assured that there is one point-of-contact throughout every step of the process, and most importantly they maintain complete discretion until an offer has been proposed. It doesn’t get any easier than that!
While some businesses might feel pressured to push deals through quickly before someone snatches up their prize asset, sellers are in no rush with Raincatcher brokering services; they are in complete control at all times. You can take your time figuring out how you’d like to proceed. Rest assured that even if you are absolutely sure of your plan, there is never any obligation for action on your part when it comes to making a decision about what happens next with your business.
The way that Raincatcher brokers will move forward once an offer has been made is determined by each individual seller’s needs and goals for their operation, so every sales process is customized for maximum efficiency and effectiveness.
Sell By Owner
Raincatcher business brokers have what they call a “Sell by Owner” solution that costs between $3500 and $5000.
In this program, they work to get a refined valuation (in order to advise on the sale price and help to have the books ready for whatever due diligence may be in order for the buyer).
They handle the creation of the marketing material and they place the business for sale on their website as well as companion websites and it will appear listed alongside all others.
The main difference here is that you as the business owner or someone you have chosen would respond to inquiries from potential buyers. There are no broker arranged meetings or strategic buyers.
Whether you choose to use Raincatcher business brokers as your business broker or use their Sell By Owner services, both solutions benefit from their ever growing marketing campaigns and online presence.
Vetting Process for Buyers
Raincatcher employs a vetting process to make sure you’re a serious buyer. They want to make sure that they’re giving sellers quality leads, and that means taking only those buyers who have real interest in purchasing a business. This is not just a site where you can post an offer for businesses, as some other sites claim to be. In fact, it isn’t possible to use Raincatcher without going through their vetting process.
After filling out a profile on Raincatcher’s website, you’ll be assigned a senior business broker to work with. They’ll check in with you several times a week to make sure that your business search is going well and you have all of the support you need. If they believe that your offer will be accepted by any of their sellers, they can help negotiate directly on your behalf so that you don’t have to worry about handling negotiations yourself.
While Raincatcher will help negotiate directly on your behalf, they’ll only do so with sellers who are serious about selling their business. You can rest assured that your offer will be accepted by a business owner who wants to sell their company, not someone who is just trying to capitalize on Raincatcher’s marketing efforts.
Raincatcher Business Broker Success Rates
A business broker’s success rate depends on a lot of factors: their network, their strategy and, most importantly, you. Finding your perfect match is key to finding a business broker that will help you succeed.
Each broker is hand-picked based on their network, experience and expertise so they can provide each client with unparalleled service and support throughout every step of the process. Not only do they search for businesses that match your personal preferences, but they also come prepared with a full, detailed list of suggestions that would best suit your financial needs. And if you’re still struggling to find a good fit, you can get professional advice from one of their brokers who will provide top-notch guidance from beginning to end.
Successful partnerships are made of one thing: compatibility. If you’re interested in partnering with Raincatcher, make sure to head over to their website to learn more about how they can help you succeed. Not only do they have a great network of brokers, but each broker is hand-picked based on their unique personal preferences and needs, so your experience is guaranteed to be nothing less than stellar. And if you have any questions along the way, they have full-time staff who are available at all times to provide professional advice for every step of your journey.
Currently, Raincatcher’s success rate is running between 70-75%. This includes all listings from $150K to $25 Million.
Fees Charged By Raincatcher Business Broker To Sell A Business
Like most brokers, Raincatcher doesn’t charge you anything to broker a deal with one of their clients. You pay for them only when they sell your business and negotiate on your behalf. In a brokerage context, they have a success fee that is comparable to other business brokerages and falls within a range no higher than 10% of the sale price. This fee is negotiated and set prior to engaging their services as you would expect and only collected upon the successful sale of your business. The minimum amount of this fee is around $30,000.
This success fee may be lower depending on the size and valuation of your business. You would need to contact them to understand how this may work.
On their website, you can search their business listings. If you want them to find you a buyer for your business, then there is no charge. If you don’t like what they find, then there is no charge (although it seems like it would be pointless to use their service if that’s your plan). However, if they put together a deal on your behalf and manage to sell your business, they get paid 10% of whatever they negotiate for you. This might seem high but consider that most businesses fail because of owner-related issues such as retirement planning or preparing for succession planning.
Pros and Cons Of Using Raincatcher Business Broker
Below is a list of the positives and negatives of using Raincatcher as your business broker to buy or sell a business.
- Trustworthy and Reputable Broker – Raincatcher has helped countless business owners find buyers for their businesses. Raincatcher’s team of experienced brokers are knowledgeable, dependable, and work hard to ensure that each business owner gets a fair deal. The company’s track record is trustworthy, and that makes all of its services worth considering.
- Easy to Use Online System – Buying or selling a business with Raincatcher is easy. Their website is interactive and intuitive, which means that it’s easy for anyone to find buyers for their business.
- Streamlined Process – Raincatcher Business Broker makes a simple and easy service for all clients to use, allowing them to access a wide range of business brokers with minimal effort. Raincatcher’s streamlined system also allows businesses to be created quickly and easily.
- Helps Small Companies Gain Recognition – They are a way for struggling companies to get in touch with bigger companies who may be interested in buying them out. Using raincatcher business broker, it’s easier for these struggling companies to find clients for their services. For businesses that are not well-known, raincatcher business brokers can help them gain more recognition among other buyers and sellers of similar services.
- Fees – As an expert in their field, it’s only natural that Raincatcher charges a fee when selling a business. The fees charged by Raincatcher are pretty much industry standard at 10%. It’s important to note that these fees are all-inclusive—they cover every aspect of the process from building a list of potential buyers to facilitating a successful sale.
- Not The Industry Giant – Raincatcher is less known than industry giant BizBuySell. However, if you want to be able to work with smaller business brokers than BizBuySell offers, Raincatcher might be better for you. This easily could’ve been a pro or a con.