Building up a reputable consultancy franchise that will return on investment is not easy. To succeed in this, you need to be committed and willing to do what it takes to provide the best service possible. A key to your success will lay in your ability to build up a customer base, cultivate a good reputation, and maintain confidentiality.
Keeping a Business’s Revenue Private
One of the most sensitive pieces of information a business advisor knows is the amount of revenue a business earns. These numbers must stay confidential to ensure a smooth business sale process. As a business advisor franchisee, you will field prospective buyers who can afford the business you’re helping sell. If a potential buyer learns what a company’s year-to-year revenue is, it could potentially impact the value of your client’s business and make it easy for bidders to lowball their offers.
The Sale of a Business Isn’t Everyone’s Business
Business brokers must keep a company’s for-sale status confidential to avoid disrupting the company’s ongoing operations. Several risks come with disclosing that a business is for sale. When employees find out that their employer is for sale, they can become uneasy and inattentive, start looking for other jobs or suddenly leave. Landlords may be less receptive to extending or renewing a lease. And competitors may use that information to scare a business’s customers and prospects – causing first its profits to drop and then its market value.
Non-Disclosures Ensure a Sale’s Integrity
It is vital for advisors to keep a company’s proprietary information confidential. A confidentiality agreement, or non-disclosure agreement, is a contract in which one party agrees not to disclose personal information belonging to the other party. A confidentiality agreement helps a company keep its trade secrets, proprietary methods, and additional internal details safe from prying eyes.
The agreement typically requires both parties to keep this information to themselves for a defined period of time. Once it’s signed, all elements of the business’s sale will be kept confidential.
Our Advisors Are Among the Most Trusted in the Industry
Keeping information safe is one of the most valued assets our consultancy franchisees bring to the table. Confidentiality is critical for both sellers and buyers and the cornerstone of every integral agreement. Transworld Business Advisors provides comprehensive training to every one of our advisors on how to protect valuable information.
You Can Become a Transworld Business Advisor Too
So, if you’re considering becoming a business advisor, why not avoid the pitfalls that come with going it alone? Why not consider partnering with an industry leader instead? We’re looking for like-minded individuals who want to experience the Transworld difference. If you’re looking to start your own consultancy business, we’ve got you covered with our business brokers franchise. With our low-cost investment, you’ll be able to make your mark in an industry that’s full of growth opportunities.
Do you want to learn more about becoming a trusted business advisor with Transworld? Contact us today!