We offer you a complimentary phone consultation to explain
the process of selling your business. In a simple and straightforward manner we
will explain the steps to a successful sale. Please call our office to schedule
your consultation.
We offer you a complimentary phone consultation to explain
the process of selling your business. In a simple and straightforward manner we
will explain the steps to a successful sale. Please call our office to schedule
your consultation.
We will meet with you to discuss what will be needed by
our firm to successfully sell the company. Once you have decided to sell your business
and utilize our services, we will complete the listing agreement and review a
personalized Strategic Marketing Plan. This plan includes marketing activities
and timelines, and gives you a comprehensive overview of the selling process.
To keep you informed we provide an activity list showing
buyers contacted, marketing activities and time spent on marketing your
business. We don't just talk about marketing your business, we do it!
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Conventional marketing
programs |
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Conventional marketing tools are still as useful today as
they have always been. The problem is that many brokers do not use these tools.
Consequently, your business sits on listing sites until a buyer happens to find
it. While listing sites are valuable, they do not fulfill the total marketing
needs. Buyers for your business must be actively sought out, qualified and
communicated with in order to find the best buyer for your business. This is an
expensive, arduous process that requires time, effort and creativity. Based on
the marketing agreement we have with each client, we utilize telephone
canvassing, direct mail, direct e-mail, network marketing, web marketing,
institutional marketing, trade shows and local and trade advertising to
complement our e-marketing efforts. This assures you of maximum exposure and
maximum opportunity to reach buyers who are in the market to buy now.
The way your business is presented to prospective buyers
is extremely important. First impressions tell a story about your business -
it’s quality, financial stability and future opportunities for growth. Our one
page memorandum is a top line summary tool covering major business data and is
designed to gauge initial interest in your business. It includes price, terms,
revenue, owner benefit, and a brief overview of the business. This one page
memorandum is only given to qualified prospects who have signed the
Confidentiality Agreement.
Once we have qualified the Buyer, we meet with you at the
business location at a time convenient for you. We respect the confidentiality
of the sale and do everything possible to maintain this low profile. You have
the opportunity to discuss the unique strengths of your business and the growth
potential with the prospect and determine the fit for your business.
Once the buyer shows a serious interest in striking a
deal, we work with the buyer or co-broker to negotiate terms acceptable to both
sides. Deal making takes skill, understanding and creativity to forge a win-win
situation for both Seller and Buyer. Our combined negotiation experience
affords our sellers with skilled representation to negotiate the optimum price
and terms. We keep negotiations on-track and forward moving to create solutions
that work for all involved!
Our Buyers are always pre-qualified through a Basic
Financial Profile which verifies their financial ability to purchase. We don't
waste your time with Prospects that are not in a position to make a decision.
Our network of lenders are available for our Buyers to help get deals done. At
the same time Seller financing often comprises a part of the deal, even with
SBA loans. We can quickly determine what part Seller financing and traditional
financing play in getting your deal done.
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Who handles the
contract for sale and purchase? |
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We provide standard contracts to fill in and get the deal
signed and started. Once that is complete, you may choose to use an attorney of
your choice to review the deal and make adjustments you feel are necessary. Or,
you may choose to use your own legal counsel to draft the contract and make all
adjustments. Whatever you are comfortable with, we do.
As part of every deal there is a due diligence period
where the Buyer has the opportunity (within a specified time frame) to review
financial and other records. This gives them the opportunity to verify the
profitability of the business and review other critical matters. We encourage
Sellers to prepare their books and records in advance and have their accountant
or CPA assist to provide accurate and timely financial statements. This makes
the entire deal progress smoothly and quickly!
As we move nearer to closing, there are licensing,
insurance and lease issues to clear. In addition to occupational licenses there
may be special licenses or certifications necessary to operate a business. We
assist with paperwork, licensing boards and educational requirements that may
be necessary. Insurances are also necessary including business insurance and
other types of coverage. Leases may be assigned or new leases negotiated with
the landlord prior to closing. Typically, the Buyer must personally guarantee
performance of a new lease and a separate credit check is usually required.
These final details often take several weeks to complete.
An attorney will usually close the transaction and act as
closing agent. In certain instances where a loan is necessary, the attorney may
work directly with the lender. When Seller financing is involved, an attorney
will draw up the note, security agreement and closing documents. Check with
your counsel for advice on closing the transaction, tax implications,
allocation of assets, non-compete agreements and other important personal
considerations.
Every Seller wants the perfect Buyer. Whether it's a
person or company all of us would like an all cash deal, a full price offer,
the least inconvenience and cost, a fast closing and parties that are a
pleasure to deal with. Sometimes that even happens! But the reality is, it
often doesn't. Some brokers even have a rule of thumb: three offers, two
contracts and one closing! Buyers have many questions and need answers to why
you are selling, how accurate are your books and records, what is the future of
the business and other questions. Typically larger businesses and corporations
are less affected by financial questions based on their professional
operations, but even these businesses go through a due diligence and often,
multiple suitors. Your business is unique and Sunbelt Business Brokers of New
England views it that way. We expend professional time and effort to understand
your enterprise and make it as saleable as possible, helping you to show it
well, have presentable financials, justify price and terms and keep all the
parties communicating. Most importantly, we strive to identify financially and
professionally qualified Buyers that have a serious interest in your business
and market your business aggressively to these buyers. Doing all of this offers
assurance that your sale will be as smooth and successful as possible!.
Sunbelt Business brokers of New England offers you a
turnkey approach to selling your business. From the initial meeting to closing
a successful deal we offer you expertise, guidance and advice. We are available
when you need us and provide weekly feedback so you always know the status of
your business sale. Call us today to start marketing your business for a
successful and rewarding sale!.
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