What Is The Business Sales Process?

1.    Establish The Right Selling Price- Critical valuation is critical in today’s market.

2.    Sign the Forms-The marketing agreement and company resolution, which documents who owns the corporation, will need to be filled out and signed in order to list and market the business. 

3.    You’ll Fill Out A Seller Questionnaire- The broker will need to create an executive summary for buyers. These questions and answers will help the broker to write the summary and properly market the business in order to get you the best price. 

4.    Business Is Confidentiality Listed- The broker will qualify buyers and have them sign NDA agreement and will facilitate the initial meeting. 

5.    Establish Your Team-Have a business attorney and CPA ready to handle any questions. Failure to have a team in place will look like you are not serious about selling your business.

6.    Receive an Offer to Purchase or Letter of Intent-Negotiate on Deal Terms

7.    Due Diligence Period- Allow the buyer to do a review of the books and records.

8.    Final Review/Inspection- Resolve all outstanding issues

9.    Close