Here are the 5 Phases and how we help manage the selling process:
The Business Sale Process
Phase 1 – Planning
- Define seller’s goals and objectives
- Conduct preliminary due diligence and presale audit
- Assemble advisory team (accountant, transaction attorney, broker/intermediary, financial planner)
- Assemble data from Seller Information Checklist
- Analyze financial statements and prepare valuation range (Opinion of Market Value)
Phase 2 – Preparing
- Agree on range of business value and transaction structure
- Execute engagement agreement
- Develop timeline for the process
- Assemble additional company information
- Prepare comprehensive presentation package
Phase 3 – Marketing
- Conduct market research and identify buyer prospects
- Activate marketing plan and advertising
- Contact target buyers
- Maintain buyer confidentiality and financially qualify prospective buyers
- Manage buyer inquiries and meetings
Phase 4 – Evaluating & Negotiating
- Solicit and evaluate proposals from buyers
- Negotiate offers (purchase agreements and/or letters of intent)
- Select primary buyer and coordinate the detailed due diligence
- Assist in negotiations
Phase 5 – Closing
- Finalize buyer due diligence
- Complete negotiations for closing documents (including purchase agreement)
- Assist in the closing process
Celebrate!!
- Provide post-closing assistance
(originally published in the August 2013 eNewsletter)