Sell A Business – The Process
On average, privately owned businesses in the U.S. change hands every four and a half years! Whether you are planning to sell your business now, or are considering your future “exit strategy,” the RE/MAX 200 BUSINESS BROKERAGE DIVISION stands ready to work with you every step of the way. The steps in the process, and our role in them, are the same whether your business is very small, very large, or anywhere in between. For obvious reasons, it is essential that your confidentiality be protected throughout the process; employees, competitors, customers, and vendors must not be aware of your plans and actions until the proper time –and they must be revealed in the proper manner – at the end of the process during transition.
- Assemble the “financials”: We will need the last three years’ Profit & Loss Statements (sometimes referred to as P&L or Income Statements) and a current Balance Sheet, as well as the past three years’ business tax returns. We will work with you – and/or your accountant if you so direct – to make the necessary adjustments to the reported profit or loss to arrive at the important “total owner benefit” figure.
- Meet: We want to discuss the features of your business, your objectives… and potential buyer qualifications, objectives, and expectations.
- Execute: RE/MAX 200 representation agreement.
- Business Valuation: We will review with you the valuation techniques appropriate to your type of business and prepare a Fair Market Pricing model for your business to assist you in your decision regarding asking price and terms. Where appropriate, we will recommend that you also obtain a third-party valuation in the event that third party financing is a likely requirement of potential buyers.
- Marketing Strategy: Develop and execute a strategy geared to attracting potential qualified buyers.
- Identify Buyers: Interview and qualify them; obtain non-disclosure agreement (confidentiality agreement) from each candidate and arrange an on-site visit for you.
- Offers: We work to obtain formal offers, identify acceptable offers, handle and facilitate the negotiations, and prepare for the due diligence steps that take place after acceptance.
- Due Diligence: Interface between you and Buyer to facilitate meeting Buyer’s information and validation requests, and to amend purchase/sale agreement terms where called for.
- Financing: We help your buyer identify and arrange sources for financing.
- Lease: If real estate is not included in the sale, we assist Buyer in obtaining transfer of existing lease or arranging new one.
- Resolve Contingencies.
- Closing: Work with you, Buyer and Closing Agent to assure smooth conclusion to the transaction at the closing table.
- Transition: Help, where applicable, with the transition process to the Buyer.
Our commitment to you is that we will be with you every step of the way.
CALL LEE FINBERG and/or RICHARD ULCH AT THE BUSINESS BROKERAGE DIVISION OF RE/MAX 200 REALTY: 407-629-6330 or CLICK HERE TO E-MAIL US TO ARRANGE A CONFIDENTIAL, NO-OBLIGATION REVIEW OF YOUR NEEDS AND OBJECTIVES
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