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Steps To Selling A Business

  1. Have Business Financials In Order (preferably 3 years of tax returns)
  2. Have An Approximate Value Of Fixtures and Equipment
  3. Have An Approximate Value Of Cost Of Inventory
  4. Contact An Experienced Business Broker
  5. Business Broker Will Complete A Market Price Analysis
  6. Decide With Your Broker On The Selling Price To Advertise (advertise confidentially) 
  7. Do Not Tell Employees, Customers, Vendors, Or The Landlord The Business Is For Sale
  8. Brokerage Will Advertise The Business Without Giving Away The Name Or Location Of The Business
  9. A Nondisclosure (NDA) Will Be Completed Before A Business Profile Is Given To Prospects
  10. The Business Can Be Visited Anonymously By The Prospective Buyer After An NDA has Been Completed (broker instructs buyer not to speak to anyone about the business)
  11. Once A Buyer Shows Serious Interest A Buyer-Seller Meeting Could Be Scheduled (fact finding meeting)
  12. Do Not Negotiate Price Directly With The Buyer (let the broker handle)
  13. The Broker Will Get A Written (LOI) Letter Of Intent Or (APA) Asset Purchase Agreement
  14. Once An Offer Is Accepted Your Broker Will Open Escrow
  15. After The Buyer Has Signed Off On Due Diligence, and Contingencies Escrow Can Close

Contact Steve Sharp directly at 619 454 1786 for a FREE no obligation consultation.