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Learn the Business Sale Process

Started by arif, April 21, 2017, 03:06:52 PM

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arif

April 21, 2017, 03:06:52 PM
Learn the Business Sale Process

Learn the Business Sale Process
The business sale process can be very involved and time-consuming. Understanding the process enables you to track its progress toward achieving your desired outcome. Your business broker is the quarterback of the process and must involve your other advisors in financial, tax and legal matters as these issues arise. Business sale processes may differ depending on the situation, but most involve the following steps:

1. Conduct due diligence on your business.

2. Write a memorandum, or selling document.

3. Research the market to identify ideal buyers.

4. Go to market by reaching out to potential buyers with your memorandum.

5. Qualify potential buyers via letters of intent.

6. Invite qualified buyers to examine the business.

7. Negotiate.

8. Issue seller's letter of intent to interested buyer.

9. Wait for buyer to conduct final due diligence and arrange financing.


Source: http://www.investopedia.com/articles/personal-finance/120915/ready-retire-heres-how-sell-and-close-your-small-business.asp#ixzz4esCNVQsw
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