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Steps To Sell A Business
1.) Seller Inquiry
You and I schedule a short visit to begin to understand your goals and see if we are a fit to move forward.
Note: It is incredibly important to maintain confidentiality if you are considering selling your business! (If your staff or clients know it can negatively affect your business making it harder to run and sell).
2.) Options Discussion
If you want to move forward, the next step is to have a longer meeting to get more comfortable with each other.
During this meeting, we will outline the path forward so that you are clear on the steps to sell your business.
3.) Perform Business Valuation
The next step is to determine the value of your business.
I will generate a written, fully documented valuation of your business based on the information you provide.
We will agree on a market value to list and sell your business.
4.) Marketing Your Business
I create a 10-20 page Confidential Business Review (CBR) to market your business to vetted prospects.
I will find potential buyers and if they pass the screening process set up a Buyers/Seller meeting.
Once the buyer makes an offer, I will act as a business intermediary to manage the back-and-forth negotiations until an “Offer To Purchase” is signed. The Buyer puts down earnest money which I hold in trust.
The Buyer now performs Due Diligence to verify the details of the deal.
6.) Closing Table
Just like when buying real estate, the deal and details are all agreed upon prior to closing, but until the paperwork is signed, the business has not been sold.
The Buyer And Seller can have their own lawyers present at the closing or I can use lawyer-prepared documents that have stood the test of time to assist in the closing if both parties agree.
I can help you!
What are you waiting for?
Accredited Business Intermediary
I am an Accredited Business Intermediary (ABI).
I am also a member of the International Business Brokers Association (IBBA) and American Business Brokers Association (ABBA).
After helping business owners grow their businesses and focusing on monthly cash flow I realized they needed guidance on how best to profit from the asset (the business) they had grown.
By helping them build a desirable business and make “an exit” owners can cash out when the time is right for them.
That is why I got my certification.
A business should be more than a job that pays you monthly, it should be an asset that grows in equity over time to help fund your next business, lifestyle, or retirement.