1. Advance planning
A truly successful sale involves planning ahead. Work with your team to increase the value of your business before putting it up for sale.
2. Targets
Identify potential buyers, then contact them to pitch the idea of buying a business.
3. Teaser
Distribute an anonymous executive summary of an available business with high-level information about the company.
4. Confidentiality agreement
Both parties sign an agreement before relevant materials are released and the deal discussion begins.
5. Prospectus
The buyer receives a prospectus, a confidential information memorandum, or an offering memorandum.
This includes the company’s history, product descriptions, customer details, financials, and other relevant information.
6. Indication of interest
This simplified written offer includes a valuation range and lays the groundwork for the deal.
7. Management meetings
The seller and buyer meet face-to-face to discuss the future of the company and gauge compatibility.
8. Letter of intent
The buyer submits a detailed offer with a firm price.
9. Due diligence
The buyer reviews financial information and other records.
10. Purchase agreement
This legally binding contract outlines the purchase details.
11. Closing
The actual exchange of funds and signing of paperwork for selling the business.
Have questions about the sale process? Let’s talk!
