Selling a business can be a complicated process. Following a plan simplifies the process and increases the chances of a business sale. To give you the best chance of selling your business fast the following must be implemented.
Information Memorandum
We will prepare for you a business summary which is an overview of your business that answers the key questions every buyer asks. Our team will go through your business with you to ensure we have all the important information that needs to be included in this document.
Having an information memorandum can reduce wasted time with buyers more than 90%. This is the key to selling your business fast. When buyers receive your information memorandum, they will immediately have a clear picture of your business and its objectives.
Our team will ensure your business is represented and showcased as an opportunity that needs not to be missed. Preparing your business summary is the foundation of the entire sale process.
Marketing Your Business
Now we have the information memorandum in place we are now able to market your business aggressively. We will have identified the ideal buyer when preparing your information
memorandum.
Knowing who the ideal buyer is requires a full understanding of your business and your industry. Does the buyer need experience in your industry? If so, then we will target potential buyers that operate in your industry. If they don’t need experience, then we can employ a wider range of marketing tactics to attract buyers.
Your business will be listed on all the major business advertising platforms and our internal database ensuring your business has maximum exposure.
Buyer Qualification
Screening buyers is important to determine how serious a buyer is about your business. The screening process we implement eliminates time wasters and ensure only serious acquirers are spoken too.
When an enquiry comes through for your business, we will send out a non-disclosure agreement. The agreement includes two key questions – How much liquid cash do you have? What is your net worth? If the buyer needs experience in your industry, then we will also include this. This simple approach saves time and allows us to focus on the criteria that really matters.
Meeting
Once we buyer has signed and returned the NDA, we will email the information memorandum for them to review. We will arrange a call between yourself and the prospective buyer at time that’s convenient. We will provide you with a questionnaire to help you answer any questions in a clear and concise format.
After the initial call we encourage a face to face meeting. We will liaise with both parties to find a convenient time and place.As you provide more information to the buyer, we will also screen them more thoroughly. This should be a gradual, natural process, and there are no hard and fast rules for when to do this. Most buyers will likely make an offer after one to three meetings.
Offer Accepted
You have accepted an offer for your business. At this stage, the reality of selling your business and enjoying your dream life will start to sink in. But let’s not get too excited we have some important legal and due diligence work to do first, before final completion.
As part of our service, we will help facilitate all the legal processes between both buyer and/or owners’ legal representative’s. This process can take up to a month from the point of an offer being accepted.
Due Diligence
Due diligence should be a routine process if you have adequately prepared. The key to due diligence is preparation. Stay on track, be organised, keep a checklist and keep the momentum going. But at some point, the buyer needs to pull the trigger.
We will provide you with a due diligence checklist for your business. You could use this checklist to prepare for due diligence before you receive an offer. This can be used as leverage with the buyer.
Closing the deal
Along with due diligence, closing the sale should also be a routine process. Prepare for the closing weeks in advance. Checklists and timelines keep the momentum moving and the parties organised. Stay organised and act daily towards the closing the deal. Our team will be on hand each step of the way to ensure the deals gets closed.
CLICK HERE for information about how we can help you achieve a successful sale.