Selling Your Business 101

Ready to sell your business? Here’s a quick overview of what you can expect:


Once you decide you are ready to sell, the first step should be to find a great broker to list your business with. Not sure how to tell if the broker you’ve found is a great one? Read this for more…Business Broker 101: How To Pick The Right Professional To Sell Your Business, Part 1


Once you have a broker, he or she will meet with you to sign a listing agreement, determine an asking price, and collect financial information, photos, a business history, etc, so they can put together a great looking marketing package to give to potential buyers. Want to know what a great broker should do to help you determine a listing price? Read more here…Business Broker 101: How To Pick The Right Professional To Sell Your Business, Part 3 


Once a business is listed on the market, it will hopefully bring in at least a few offers. Once you receive an offer, you will have the choice to accept the offer, or you may choose to negotiate for a different price. Once you get to a price you are comfortable with, you will accept that buyer’s offer.


An accepted offer starts the next phase of the process, known as due diligence. During due diligence a buyer will have the chance to look through your financial documents, review any inventory, go over contracts, etc. At the end of due diligence, the buyer may wish to amend their initial offer based on what they discovered during the process. Want to know more about due diligence? Read this…Business Sellers: Revealing Your Business To Buyers During Due Diligence 


Once due diligence is complete, and both parties have agreed to a final purchase agreement, you will head to the closing table. A note to sellers here, most purchase agreements include a clause that requires the seller to stay on for a period of time to train the new ownership – so keeping things amicable between buyers and sellers is very important. How do you keep things amicable? Read this for more…Keep Your Broker In The Middle: Why Trying To Communicate Without An Intermediary Is A Big Mistake When Buying or Selling a Business 


After the closing documents have been signed, congratulations – you sold your business! What to do next? Click here for ideas…Business Sellers: I Just Sold My Business, What Comes After the Closing Table? 


Are you thinking about selling your business, but you have questions about the process? Please feel free to leave us a question or comment here, and we would be happy to further explain the process.


Michael Monnot

1910 Park Meadows Drive, Suite 202
Fort Myers, FL 33907


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Michael Monnot


5111-E Ocean Blvd
Siesta Key, FL 34242

Michael Monnot


9040 Town Center Parkway
Lakewood Ranch, FL 34202


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