Congratulations!

So you're thinking about selling your business?

This is huge. It's nerve wracking. You don't have to go it alone.

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Step-by-Step to selling a business.

Go-to-Market

Step 1 is a detailed assessment of your business, the market, and your industry. Then we prepare a strategy and offering packet.

Buyer Interviews

We have a list of pre-vetted buyers who we know can close a deal. If your Right Buyer isn't among them, we will source and pre-qualify more.

Offer

Once your ideal buyers have been found, we will review offers; called the Letter of Intent. This non-binding document lays out the terms.

Due Diligence

Once an offer has been selected, we will help the Buyer review the company's financials, operations, assets, to support the valuation.

Closing

Once due diligence is done, the final purchase agreement is signed and funds are transferred through an escrow agent. We'll make it seamless.

Post-Closing Transition

The deal doesn't end at the closing table. Next, you "turn over the keys". It's time to notify the staff, pass on all access, and support the new owner.

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Frequently Asked Questions

How is the Value of my Business Determined?

To figure out how much your business is worth, you need to look at several important factors. First, check your financial statements like profit and loss reports. These documents show how much money your business makes and spends. Buyers want to see that your business makes good money and has a steady income.

Next, think about your business's assets. Assets are all of the things your business owns, like buildings, equipment, or inventory. The more valuable your assets, the more money you could make selling them; they add to the overall value of your business.

Lastly, consider the market and industry trends. If your business is in a growing industry or has a good reputation, it might be worth more. Talking to a business broker or using online tools can help you understand what similar businesses are selling for. By looking at your finances, assets, and market trends, you can get a good idea of how much your business is worth.

What to Expect During the Due Diligence Process?

During the due diligence process, buyers will want to learn everything about your business. They will look at your financial records, like profit and loss statements, to see how much money your business makes and spends. This helps them understand if your business is a good investment.

The buyers will also check your business operations. This means they will want to see how things work day-to-day. They might ask questions about your employees, customers, and suppliers. They want to make sure everything is running smoothly and there are no big problems.

Lastly, expect the buyers to look at legal documents. They will review contracts, licenses, and any agreements you have with others. They want to make sure everything is legal and in order. This process can take some time, so it's important to be patient and honest. By the end of due diligence, the buyers should have a clear picture of your business, which helps them decide if they want to buy it.

How Will the Sale Affect My Employees and Customers?

When you sell your business, it can affect your employees and customers in different ways. Your employees might worry about their jobs and what will happen to them. It's important to talk to them and explain the situation. Tell them that the new owner might keep things the same or even make some improvements.

Customers might also be curious about the changes. They could worry that the products or services they like will change. You should let your customers know about the sale and reassure them that they will still get the same great service. It's like if your favorite ice cream shop got a new owner. As long as the ice cream stays delicious, you'll keep coming back.

To make the transition smoother, the new owner might ask you to stay and help for a while. This can help both employees and customers feel more comfortable with the change. Think of it like a big handover during a relay race. By working together and communicating clearly, you can help everyone adjust to the new changes and keep your business running well.

What Are the Tax Implications of Selling My Business?

When you sell your business, you need to think about taxes. Taxes are typically paid on the money you earn. Selling a business can mean paying different kinds of taxes, like capital gains tax. This tax is on the profit you make from selling your business for more than what you paid for it. It's like if you bought a widget for $5 and sold it for $10; the profit, or proceeds, are $5, and you might have to pay tax on that gain.

There are two main ways to sell a business: selling the assets or selling the stock. If you sell the assets, you are selling things like equipment, inventory, property, and goodwill. This can lead to different taxes on each item. Selling stock means you are selling your ownership in the company. This can have different tax rules and might be simpler. It's like choosing between selling all the parts that make up the business separately or selling the whole thing at once.

To make sure you pay the right amount of tax and don’t get surprised by a big tax bill, it’s a good idea to talk to an accountant or tax advisor. They can help you understand the tax rules and find ways to lower your taxes.