Selling a business can be a complex undertaking. However, adhering to a strategic plan streamlines this process and enhances the likelihood of a successful sale. To optimise your chances of swiftly selling your business, the following steps should be taken:
Information Memorandum
We will craft a comprehensive business summary that addresses key buyer inquiries, ensuring all pertinent details are included. Our team will collaborate with you to gather essential information essential for this document.
The information memorandum significantly minimises time wasted with prospective buyers by over 90%, serving as a critical element for expediting your business sale. Upon receiving this document, buyers gain immediate clarity regarding your business and its objectives.
Our team will present your business as a compelling opportunity not to be overlooked. Developing your business summary forms the cornerstone of the entire sales process.
Marketing Your Business
With the information memorandum prepared, we can launch an aggressive marketing campaign for your business, having pinpointed the ideal buyer during the documentation phase.
Identifying the ideal buyer necessitates a thorough understanding of your business and industry. Does the buyer require industry-specific experience? If so, we will target potential buyers from your industry. If not, we can employ a broader range of marketing strategies to attract buyers.
Your business will be featured on major business advertising platforms and within our internal database, ensuring maximum exposure.
Buyer Qualification
Screening buyers is vital to gauge their seriousness about your business. Our screening process weeds out time wasters, engaging only serious prospective buyers.
Upon receiving an inquiry about your business, we will send a non-disclosure agreement, incorporating essential questions: How much liquid capital do you possess? What is your net worth? If industry experience is required, we will include this as well. This straightforward approach saves time and focuses on pertinent criteria.
Meeting
Once a buyer signs and returns the NDA, we will provide the information memorandum for their review via email. We will arrange a convenient call between you and the prospective buyer, supported by a questionnaire to facilitate clear and concise answers.
After the initial call, we encourage a face-to-face meeting, coordinating a suitable time and place for both parties. As the buyer receives more information, we conduct more thorough screenings. This should unfold naturally, typically leading to an offer after one to three meetings.
Offer Accepted
Upon accepting an offer for your business, the reality of your business sale and your envisioned future begins to materialise. However, there's crucial legal and due diligence work to address before finalising the sale.
As part of our service, we facilitate all legal processes between buyer and/or owners' legal representatives, a process that typically takes up to a month post-offer acceptance.
Due Diligence
If adequately prepared, due diligence should proceed smoothly. The key is preparation. Stay organised, maintain a checklist, and sustain momentum. We provide a due diligence checklist for your business, which can also be used pre-offer to leverage discussions with the buyer.
Closing the Deal
Closing the sale should also be a routine process with adequate preparation. Plan for the closing weeks in advance, employing checklists and timelines to keep the process on track. Our team supports you at every step to ensure the deal closes successfully.
CLICK HERE for information about how we can help you achieve a successful sale.
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