Homeowners know how to sell their house. Art collectors know how to sell their art. Business owner’s know how to run their business – but they often don’t know how to sell them. The business is often the second major investment (alongside the house) and the sales process is daunting and complex.
To help simplify the process and give Business Owner’s a proper understanding of the process, we thought we would take the time to outline the process. This is the sales process that we undertake – it differs to a business broker as they generally try to connect buyers with sellers, and then they have to handle the deal themselves. We prefer to walk alongside our clients and take them through the entire process from the first day right through to the money changing hands.
The steps involved in selling a business are:
- Planning the sale strategy
- Tax Advice on the preferred sale approach (including restructuring is necessary)
- Identifying potential purchasers for the business
- Preparing anonymous Teaser / Flyer document for interested parties
- Preparing Confidential Information Memorandum for selected parties
- Non-Binding Indicative Offers from short-listed parties
- Due Diligence for acceptable acquirers
- Transaction documents, with the help of your legal advisors
- Completion and Settlement
Put the sale of your business in the right hands and contact us today.