Selling a Business: Steps to a Successful Sale
So, you’re ready to sell your business — you’ve come to the right place. After over 30 years as a business intermediary and business broker, we understand that our sellers have the same objectives in mind.
Objectives for Selling a Business
- Achieve the maximum value possible.
- Accomplish selling objectives in a reasonable amount of time.
- Accomplish a sale with the least amount of inconvenience.
- Accomplish a sale with a high standard of confidentiality.
- Achieve satisfactory terms and conditions of sale.
Yellowstone Business Acquisitions follows a nine-step program to bring about a successful business transaction. Each business is unique and the marketing plans may vary, but in every case we follow each of these steps so that you achieve a sound business sale.
9 Steps to Selling a Business Successfully
- Have a preliminary discussion of the sale process including how confidentiality will be carried out and what you, the Seller have as selling objectives, including exit strategy and what you will do post-sale.
- With your assistance, we collect and assemble all documents, including equipment lists, financial information, real estate information/leases, key personnel and employee structure, business history and operational data, competition, product information, and technology.
- We do extensive research, analysis, and preparation that includes targeting a price range. The goal is to achieve maximum value and terms without pricing yourself out of the market.
- Together we discuss potential terms and conditions of sale with your accountant, attorney and other financial advisor, to have everybody agree on how the sale process will be conducted and why.
- We develop all marketing materials, including a detailed brochure, which will be available to qualified buyers only.
- We develop a target market of potential purchasers of the business and implement marketing program, using a rifle approach, not a shotgun approach.
- Register all buyers, determing their ability to purchase and if they are the correct fit, introduce qualified buyers to business. Negotiate offers through Letters of Intent and Business Transaction Agreements, until there is an agreement to purchase signed by Seller and Buyer.
- Implement the closing process by conducting all due diligence, arranging financing, disseminating documents to Seller and Buyer’s advisors, coordinating business closing and formalizing all paperwork.
Complete the settlement of the sale and implement the transition process, whereby the Buyer takes over ownership and the Seller assists in the transition.