Selling a Business
with the assistance of your IBB Broker, Michael Monnot
You have made the right choice by considering Infinity Business Brokers for selling your business. Our success rate is higher than the industry’s standard because it is based on dedication to our clients, deep knowledge of the business marketplace, meticulous attention to details and utilization of our highly-effective “Financial Intelligence”. All of the above, multiplied by many years of experience in finding solutions in the most difficult situations, explains why business owners keep coming back to us and refer friends with their business-selling needs.
We will provide you with as much information as you need to make the right decision. With us you will know exactly why things are the way they are. At any point, you are in control of the business-selling process – after all, it’s your business.
Regardless of your business size, we will apply the same level of commitment and dedication to you, as our client. We’ll listen to you, and try to cater our services to your particular situation. If you’d like to get more details, let’s review our business selling systems, listed below.
Michael's Key Services Associated with Selling a Business:
- Business Evaluations
- Preparing Businesses For Sale
- Marketing Businesses For Sale
- Screening and Pre-Qualifying Business Buyers
- Record Keeping and Follow-up Activities
- Maximizing Business Prices
- Mediating Business Sale Negotiations
- Minimizing Closing Costs
The Steps We Take Selling a Business
We start with a business evaluation and analysis. It is very important to supply you with sufficient data so that you can correctly determine the purchase price. You don’t want to overprice the business as it may not sell. Only the properly priced business will sell but you also don’t want to leave any money on the table either. Infinity Business Brokers offers our business evaluation services free of charge to all of our clients.
Preparing The Business For Sale
It pays off to spend more time on preparing the business for sale than to quickly list it. It increases the chances of selling and conditions of sale are much more favorable to the business owner. We work very closely with business sellers gathering necessary information, preparing the Business Profile and re-casting financial statements, utilizing our system, thus presenting your business in the most attractive way.
Professionally Marketing The Business For Sale
The way we advertise varies greatly depending on the business type, size and geographical coverage. The majority of our businesses are advertised through internet business listing services, networking and mining our database, however sometimes it may require us to advertise with trade magazines or contact potential buyers directly. We will create discreet, yet descriptive advertisements and we will determine the best advertising strategy and advertising media for each client individually. You do not pay for any of our services until your business is sold.
Protecting Transaction Confidentiality
Having an intermediary involved is very important for preserving confidentiality of the transaction. You do not want potential business buyers questioning your employees, vendors or customers for information about your business operation. It may damage your business by causing vendors to revoke credit terms, employees starting to look for new employment, etc. Infinity Business Brokers never reveal our client’s identity until the buyer has been properly screened and the proper confidentiality forms are signed by the buyer.
Screening & Pre-qualifying Business Buyers
Most buyers inquiring about a business for sale are not qualified to buy it. At times 100’s of buyers will inquire about your business and you can see how much time can be wasted. It is very important to pre-qualify every buyer early and eliminate unqualified individuals. We pre-screen every single buyer, thus saving you a lot of time.
Record-Keeping & Follow-Up
We keep meticulous records including every email that is sent or received on your business, every confidentiality agreement that is signed and this information is stored and backed up in a secure manner.
Maximizing Business Price - Recasting Financial Statements
Business owners are trying to minimize their tax liability. Sometimes small business owners charge their personal or family expenses to the business and we can provide many examples of this practice. It may work to their benefit while running the business; however it works against them when they have decided to sell. When selling, you’d like to show as much income as possible, thus increasing the purchase price. We do all of the necessary adjustments to your financial statements, reflecting correct unbiased performance of your business. Our business intermediaries will professionally prepare a Confidential Business Profile, recast financial statements and compile all necessary information about your business that may be required by buyers.
Mediating Business Sale Negotiation
A properly orchestrated negotiation really can make the difference between a deal and not having a deal. There may be a lot of tension when people discuss money or even business operations and a simple misunderstanding may cause termination of a deal. Having a business intermediary as a neutral third party mediating your negotiations will bring a calm, business-like atmosphere and assure a successful outcome.
Procuring Escrow & Minimizing Closing Costs
After the purchase agreement is executed by both parties the businesses transaction of sale is finalized through escrow. The escrow will be held by a 3rd party unless otherwise agreed upon. We can recommend our preferred service providers.
Please contact me for a free consultation