For a general idea of how to sell your business, take a look at the 6 major steps involved when you work with Seiler Tucker below:
1. Prepare to sell your business
Before you sell a business, it is necessary to get everything in order to ensure the process goes smoothly and you get the maximum value for your business. This includes determining your desired exit and a selling price you feel comfortable with. You will also need to be prepared to provide various financial statements and any other documents the buyer will need. A trusted online business broker like Seiler Tucker can help you navigate this preparation stage and they will help you determine which type of buyer will be right for your business.
2. Get a comprehensive business evaluation
Next, you will want to get a thorough business evaluation. We can start you with a free business consultation to give you an idea but will need to do a comprehensive evaluation that produces a detailed report including an appraised price and several purchase scenarios. We use confidential software to provide a full valuation.
3. Prepare for marketing
Seiler Tucker can help you put together all of the confidential marketing materials you will need to reach the right prospective buyers. We will compile a summary of your business and vet buyers to ensure they are a good fit and pass the background check. We will also create confidential marketing write-ups that can be placed on different business listing sites and strategic marketing sources tailored to you.
4. Market your business
Confidentiality is key when you choose to sell your business. Seiler Tucker will utilize our own database with thousands of qualified buyers to market your business. We will also focus on external marketing efforts to ensure that the right people learn about the sale of your business. All buyers will be heavily screened and approved before they learn proprietary information about your business. Confidentiality is our highest priority during the marketing phase.
5. Negotiate and field offers
Once the offers come rolling in, we will field offers and negotiate terms to get you the best price. Seiler Tucker provides complete education on deal structures and we will also handle the fine print of the deal, producing offer sheets and purchase agreements. Properly navigating this stage of selling a business is essential to ensure a win-win for business owners and buyers.
6. Close the deal and get transition assistance
Seiler Tucker will make sure the final step of the deal goes off without a hitch. We offer the following to help you close the deal:
- A network of trusted closing attorneys
- Complete oversight in the due diligence process
- Management of buyer/seller relations
- And more to ensure the deal happens smoothly