We take selling your business very seriously…and here is how we do it.
What does the process of selling a business look like? It is one of the most frequently asked questions our firm gets, so today we’ll walk you through the steps from the first time we speak until we get an offer for your business.
The process begins with a discovery call. This can be a quick, 15–20-minute phone conversation where we’ll discuss what’s important to you, why you want to sell, and what you hope to achieve.
Next, we’ll request a few financial documents to evaluate your business. Upon receipt, we run the numbers and typically hop on a call with you to connect the dots and ask a few questions. We also have our underwriters review everything. That will give us an idea of how much your business is worth and allow us to identify potential buyers.
Next, we’ll present you the valuation and come up with a game plan. We will discuss the worth of your business, where we can take it to market, who the buyer will most likely be, and this is what we think the structure will look like.
Then, you decide how to move forward. You take the valuation report, discuss it with your family, and then you make the decision on how to move forward.
Once you commit to taking your business to the market, you’ll sign an engagement agreement with our firm. We can then create and implement a customized marketing plan for your business.
“From discovery to close, the entire process will most likely take between seven and nine months.”
Within six months, you’ll likely get six to seven calls from potential buyers who are interested in learning more about your business. Serious buyers will request to tour your business in person and want to discuss it further. During those visits, you’ll probably receive offers, which we can sort through to determine the best buyer. Once you have an offer are comfortable with, then you will sign a contract with that buyer and begin the process to close.
If you have any questions about selling your business or would like to discuss these steps in more detail, give us a call or send our team an email. We’d be happy to speak with you.
