How do I start the process of selling my business?
You can call or email us and we will set up an in person, no obligation appointment. During this initial meeting, we will answer all of your questions including how much your business is worth. We will also begin the process of learning all we can about your business, such as its history, operations, significant trends, competition and major selling points.
Will anyone know that my business is for sale?
Everything we do in the process of selling your business is designed to protect the confidentiality of your information and your business. Prospective purchasers are required to sign and return a Non-Disclosure and Confidentiality Agreement and are approved by you prior to any confidential information being sent to them.
How do you know how much my business is worth?
Using your tax returns or your profit/loss statements, we will perform a cash flow analysis and a market analysis of comparable businesses currently for sale and previously sold to arrive at a suggested asking price for your business. We will do this confidentially and at no obligation so that you can make an informed decision about the sale of your business.
What information do I need to get started?
We would like to see the past three years operating activity (tax returns or profit/loss statements, balance sheet) plus the current year’s performance to date. Also, any inventory and equipment lists would be helpful but not necessary for our first meeting.
How do you market my business?
We will prepare a Confidential Business Review (“CBR”) which describes your business and includes its operations and financial information. Your business will be confidentially marketed to prospective purchasers we select from our proprietary database or who respond to our internet ads. We will also implement a targeted direct mail campaign if we deem it appropriate for your industry.
How are the negotiations handled?
We will handle every step of the selling process, from preparing the business to go to market to negotiating the deal and closing the sale. We will work closely with your accountant, attorney or financial advisor to structure a deal that best meets your financial objectives.
What questions can I expect from prospective purchasers?
Every deal is unique and prospective purchasers will ask many questions. However, almost always asked are the following questions:
- Why do you want to sell the business?
- What should a new owner do to grow the business?
- What makes this business different from its competitors?
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