THE CORRECT BUSINESS SELLING SEQUENCE

Preparation

• Get appraisal to price your business
• Hire a divestiture expert to assess the marketability of your business
• Recast financial statements to maximize profit and value
• Define plan to market your company
• Establish criteria to screen for the most desirable buyer
• Design buyer search system
• Develop script to handle buyers
• Initiate search for buyer
  

Establish Relationships with Qualified Buyers

• Quick-screen buyers
• Use non-binding letter of intent to "commit" promising prospects
• Get "handshake" agreement with buyers about price & terms
  (subject to buyer's substantiation of seller representations in prospectus)
• Obtain the cooperation of your business' landlord and lender(s)

Due Dilience and Negotiations

• Explain financial history
• Show opportunity for future growth
• Focus buyer on non-financial factors which maximize company value

Deal-Making

• Identify alternative financing
• Your advisor prepares documents
• Closing
• Deposit certified check
• Do what you want for the rest of your life