We are the safe pair of hands you can trust with your legacy
- Who do I sell my business to?
- How do I ensure I'm selling my business for the right amount?
- What type of information would a potential buyer need?
- What's going to happen to my employees?
- Who's going to handle this transition at a professional level?
- Do I sell all of my equity in the company or just a portion?
- How long does it typically take to sell a business?
- Do I hire a business broker or not?
All these questions are extremely important to ask yourself, along with a laundry list of others not listed above. This process, more often than not, is very frustrating due to the number of factors that must be considered. Typically, selling your business takes 8 to 12 months after a licensed broker has listed it. In reality, this timeline is closer to 18 months from the initial thought of selling to the day you close escrow. This jump from 12 to 18 months comes from the initial preparation a business should undertake before it’s ready to hang the “for sale” sign.
HERE ARE THE STATISTICS
Why 1 in 11? Simply put, there aren’t enough buyers to acquire all the businesses that are available.
The other main reason businesses don’t sell is that few are properly groomed to sell. This points back to the “before you sell” questions I mentioned earlier.
HERE’S HOW TO SELL YOUR BUSINESS THE RIGHT WAY
Many entrepreneurs have never sold a business before, so like most, they employ the assistance of a Broker. Logically, this makes sense, but you must keep in mind that not every broker is created equal. Most of them have never bought a business before and don’t understand how to evaluate a company truly. Often, they include invalid add-backs in conjunction with over-inflated EBITDA multiples. The amount of money a business cash-flow is directly related to its value. If the value doesn’t support the listed price, the business will NOT sell.
The chart above proves that a broker is not always the way to go. The number of businesses that were listed by brokers was a staggering 2,250,000 roughly. If these people are the best option for selling your business, how is it that they only helped 206,204 business owners? If only 9% of the people who came to you for the help received assistance, that’s a problem.
We want you to know that there’s another way to sell your business in an orderly and controlled way that avoids the broker pitfall. Directly working together would allow us to establish an open dialogue. Our communication would stay strong, so no question goes unanswered. You don’t have to be exclusive with us until we reach a win-win scenario. You also will save yourself tens of thousands of dollars in broker commissions.
Our Buying Process
STEP 1: INTRODUCTION
You can reach out to us via phone call or by email to get things started. We will ask you about your business, goals, and timeline as we get to know each other.
STEP 2:CONFIDENTIALLY AGREMENT
If we're a good fit for each other and want to move to the next step we'll send over a simple NDA (non-disclosure agreement) that will ensure your privacy.
STEP 3: INFORMATION REQUEST
Once we receive the NDA back from you we will request a profit and loss statement for the current year & 3 years prior. We will also need the most current balance sheet.
STEP 4: BUSINESS VALUATION
Once we have the requested information we will quickly get to work analyzing the value of your company. We then show how we arrived at that number.
STEP 5: WRITTEN OFFER
We will generate an offer that you can review with your trusted advisors.
STEP 6: NEGOTIATING TERMS
We negotiate the terms of the initial offer into a a win-win scenario.
STEP 7: L.O.I (LETTER OF INTENT)
Once we reach a consensus on the terms we'll send over a letter of intent which restates the agreed upon terms.
STEP 8: DUE DILIGENCE
We will complete our due diligence as quickly as possible.
STEP 8: CLOSE
Congratulations! You have successfully sold your company. It's time to travel or spend more time with loved ones.
Your Legacy Is Secure
You don’t need to wait years from today before you can sell your business. You have an experienced team who is ready to buy your business today. Our process is extremely straightforward, and we know we can complete this process in 90 days or less. Call us TODAY or shoot us an email. Even if you’re not ready to sell, we would be happy to give you a FREE valuation. We’ll also include a purchase proposal to keep in your back pocket should you change your mind.
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