Selling a Business – Process
As a business owner who is selling your business you need to know:
- that the confidentiality of your business will be protected.
- you will get maximum exposure to qualified buyer prospects.
- you will receive sound advice in responding to offers.
- you will get the best possible price and terms.
- you are choosing the right business broker to represent you: Business Acquisitions, LLC.
Business Acquisitions, LLC brokers are professionals experienced in a variety of business areas: finance, sales, operations and quality, representing large corporations as well as small businesses in a variety of industries. We focus on your needs and your business. The following is our 8-step process for helping you sell your business:
STEP 1: BUSINESS VALUATION A pre-sale broker price estimate helps determine if your business is positioned to sell. Remember that ultimately the price and terms you get are driven by the market.
STEP 2: LISTING AGREEEMENT After our initial free consultation, we tailor our agreement based on your needs and our assessment of your business. Once a contact is in place, we gather an array of information from the seller (and market data) to prepare you and market your business.
STEP 3: MARKETING Business Acquisitions generates a unique campaign to market your business to potential buyers. The cornerstone of this campaign is a detailed business profile, which educates buyers about the operation, facility, marketing, financial status and future opportunities of the business.
STEP 4: BUYER SCREENING We require each buyer to sign a Confidentially Agreement and assess if they are qualified financially and/or strategically to purchase your business.
STEP 5: MAINTAIN BUSINESS OPERATIONS During the entire process, you are responsible for maintaining or improving the value of your company by tending to daily operations.
STEP 6: THE BUYER / SELLER MEETING Business Acquisitions, LLC confidentially schedules all showings of your business at your convenience. An appointment for a buyer and seller to meet is usually made when a buyer is considering making an offer to purchase the business. In this meeting the buyer typically tours the facilities, asks questions and completes his/her due diligence.
STEP 7: OFFERS We present all offers and negotiates on your behalf, with your involvement. Appropriate negotiation is crucial to achieving a successful sale. The deal must achieve a win for both parties and we have the expertise required to conduct sound negotiations that can make that happen.
STEP 8: CLOSING Business Acquisitions coordinates the due diligence and facilitates the closing process by coordinating with accountants, lawyers, bankers, landlords, and other third parties involved in completing the transaction. A formal closing, conducted by attorneys, takes place where legal documents are signed, funds are received and ownership is transferred.
STEP 9: DUE DILIGENCE After the offer is accepted, the buyer will begin a due diligence process. This will have a limited time frame of two to six weeks for the buyer to complete. The buyer will sometimes use accountants, attorneys and others to verify the information provided to the buyer. The seller must be prepared to timely answer all the questions.