Documentation: You provide us and sign all the necessary documents and data required to sell your business.
Valuation and Pricing: We analyze your business, review comparables and agree with you on the listing price and terms.
Packaging: We develop a confidential business profile on your business.
Marketing: We aggressively, but confidentially, advertise your business on our website and the most popular industry websites, maximizing buyer interest and inquiries. We also hold "Business Buyer Opportunity Nights" to showcase our listings to qualified and interested individuals.
Screening: We interview prospective buyers to professionally and financially qualify prospects and to eliminate those who are unable or unwilling to purchase a business at this time. We obtain signed confidentiality agreements and net worth statements.
Introduction: Our business intermediaries present your business to qualified potential purchasers. They discuss the various components and benefits of the business with the potential buyer. You are asked to do what you do best: run your business.
Meeting: A possible meeting with you, the potential purchaser and the VR business intermediary are set up to prove the buyer’s interest and give you an opportunity to learn more about the buyer. You will never meet a buyer without the accompaniment of a VR business intermediary.
Assisting with Financing Options: We work with you, prospective buyers and select financial institutions and brokers to structure appropriate financing. We will assist you and the buyer in determining which method of financing will work for all parties and lead to a successful closing.
Offer to Purchase: We encourage buyers to write a fair offer accompanied by an earnest money deposit check. We will present the offer for purchase to you. At the time, we can provide you with background information on the buyer and explain the buyer’s reasoning behind the offer.
Reviewing the Offer: We explain the conditions of the offer to you. You may accept the offer as presented or you may use our knowledge and experience to structure a counter offer.
Mutual Acceptance: At this critical time VR business intermediaries use their training, negotiating skills and expertise to create a mutually acceptable agreement and it becomes a contingent purchase and sale agreement.
Due Diligence/Inspections: Nearly all offers are contingent upon the buyer’s inspection and approval of all aspects of the business operation including financial records, equipment, contracts, etc. The handling of due diligence is the most important step in the process of a successful sale. You will need to satisfy the buyer that you have all the necessary licenses and permits necessary to operate the business.
Contingency Removal: The buyers remove all the contingencies for the agreement to become a binding offer for purchase and sale. Real Estate Transfer: We work with you, the buyers, and your landlord to transfer your lease. If you own the real estate, we can sell it with the business or separately and if appropriate, co-broke with a realtor.
Note Assumption: If there are existing equipment leases or loans that the buyer is to assume, we can work with the lender, closing attorney or escrow company to ensure the transfer of those obligations.
Closing Preparation: We guide you and the buyer through closing with a rigorous checklist to ensure that everything necessary to complete the sale is in order and the transaction is completed in a timely manner. They are coordinated by either an attorney or an escrow company.
Inventory: If applicable, a count of inventory is made near the closing by you and the buyer together or with a third party auditor.
Closing: All parties sign the final agreement. At closing, money, title, and possession of the business change hands.
A Successful Sale: Now it's time to celebrate and move on to the next step in your career, a future endeavor, or perhaps even retirement!
Comments
Post a Comment