About Our Process
learning about your business
You need to know what you're selling. We take sellers through a questionnaire to get all the details we will need to sell your business.
Financial information and data
We want to be prepared for buyer questions so we request your financials, lease, price lists and anything else we think will help answer buyer questions. The buying process is one of discovery. We want buyers to be at ease with the information they seek as part of the process.
When we list your business we list it on more than seven feeder sites (though in turn fan out the listings to other sites) and we list it "blind." This means that we list it confidentially. We don't think it's good for a business for it's employees, suppliers and customer to know it's for sale. We generally don't list the town or city your business is in as well because we don't want buyers or competitors guessing it's your business for sale.
Dealing with buyers
Buyers will request more information on a blind listing -- from there we work with the buyer to determine what part of the buying process they are in and have them sign a non-disclosure agreement before we send them information on your business.
For each of our listings we create a 5 to 10 page executive summary that gives the highlights of your business. This helps buyers understand your business and determine if it is a fit for them.
Working with buyer is an extremely important part of the process. No buyer, no sale. We work closely with and try and meet serious buyers (if proximity permits). We work through financing challenges and help buyers determine if they can afford your business.
Offers and deposit
We work with a standard offer document to help guide buyers through the complicated process of making an offer. We're there to walk them through the entire process. We require buyers to make an earnest deposit.
We work with you to gather the documentary to show the buyer during this process. Typically this is done at our offices, but each case is different. Due diligence is an important step in the process. It both helps the buyer understand your business and reduces the likelihood they will back out at closing and it ensures that buyers have had a chance to confirm what has been presented to them.
Closings typically take place at our offices and involve a lot of moving parts including assignments of leases, lawyers, permits and so on. We keep the process moving and make sure that someone is working to complete all the steps to make sure the closing happens with ease.