There are several steps involved in selling a business and the process can be fairly lengthy (potentially as long as a year or more) depending upon the readiness of the business for sale, the number of potential buyers, the availability of financing, the seller’s price expectations and the seller’s commitment to the process.
Our approach to the sales process includes the following steps:
- Analyze the potential investment opportunity for purchasers of the business and develop a marketing program;
- Search for and identify prospective purchasers qualified in terms of business advantage afforded by the business, financial capacity to transact and likelihood of consummating a purchase;
- Prepare marketing documents such as an Information Memorandum designed to provide information to interested parties on a staged basis;
- Present the Information Memorandum to those parties who have signed a Confidentiality Agreement and maintain a dialogue with potential buyers to elicit favourable acquisition proposals;
- Manage all aspects of the buyer’s due diligence process;
- Coordinate your professional advisors (e.g. lawyers, tax advisors, etc.); and,
- Negotiate with serious purchasers to generate a transaction on agreeable terms.
We have published a booklet called Selling your Business…For What it is Worth which details the selling process and certain factors that business owners should consider throughout this process. Please email us at [email protected] to obtain your complimentary copy of this booklet.