If you are interested in speaking with Max Friar directly and confidentially about potentially selling your business, please call: 616-965-2771 x5.
Are you asking yourself: “How do I sell my business?” In our experience, the most successful business transactions have three key elements:
- Buyers must see the potential of the business;
- A strong buyer pool creates a competitive market which yields the greatest probability of success;
- Projects must not lose momentum.
That is why we follow a specific process that begins with thorough pre-sale planning. During the pre-sale planning we focus on understanding our client motivations, goals, and objectives. Next, we focus on understanding the individual characteristics of the business. We strive to uncover areas of strength and opportunities for growth in effort to properly stage the business in our marketing materials. Many firms take a similar approach; what differs us from the competition is the speed at which we complete phases 1 and 2.
The momentum created from proper preparation is essential during the third phase, buyer identification. Our goal is to uncover the greatest number of qualified, interested buyers in the shortest amount of time. The strong buyer pool creates competition and allows us to leverage the buyers against one another. This is why we do not set an asking price on our business listings. We build a marketplace and allow it to dictate the purchase price, often above what a traditional valuation would indicate. After the best buyer has been selected during phase 4, we coordinate the necessary components to consummate the transaction.
Phase 1 – Pre-Sale Planning
- Identify Owner Goals and Objectives
- Prepare a Business Valuation
- Complete a Confidential Market Survey (survey of trusted buyers in our network)
Phase 2 – Marketing
- Prepare Influential Marketing Materials highlighting the Value Drivers
- Market your Opportunity
Phase 3 – Buyer Identification
- Market your Company on a Confidential Basis
- Secure Non-Disclosure Agreements from Potential Buyers
- Qualify Potential Buyers prior to Business Introduction
Phase 4 – Negotiations
- Schedule and Conduct Site Visits
- Secure Multiple Qualifying Offers
- Analyze Terms and Negotiate Best Terms
Phase 5 – Closing the Transaction
- Assist Buyer in Arranging Necessary Financing
- Coordinate the Due Diligence Process
- Work with your Attorneys to Draft the Definitive Purchase Agreement
We believe that our process will give business owners the greatest chance for a successful sale. For more information about our process or to meet with one of our experienced advisors, please complete our contact form.