ProBiz
 
Sellers


10 STEPS TO SELLING YOUR BUSINESS

Step 1. Plan and prepare.
  • Organize your financial records.
  • Clean and repair equipment.
  • Normalize inventory; get rid of any inventory over one year old and obsolete inventory.
  • Have a plan post closing.
Step 2. Retain your broker: Rick Eggleton at ProBizSeller.
  • Meet and discuss objectives.
  • Discuss market and buyer expectations.
Step 3. Complete valuation.
  • Provide information requested by broker who will provide you the valuation and reality check.
Step 4. Broker prepares business profile.
  • Detail historical performance.
  • Identify growth opportunities.
  • Prepare informational package for prospective buyers.
Step 5. Broker markets the business.
  • Develop marketing strategy.
  • Maintain confidentiality.
  • Manage your business while ProBizSeller markets it.
Step 6. Broker identifies buyers.
  • Interview prospective buyers.
  • Obtain non-disclosure documents and buyer's profile.
  • Arrange on site visits.
Step 7. Broker prepares terms sheet.
  • Obtain offer from buyer(s).
  • Identify acceptable offers.
  • Facilitate negotiations.
  • Gets all written agreements signed.
Step 8. Due diligence.
  • Buyer prepares information request.
  • Owner responds to information request in a timely manner.
  • Broker amends offer in writing if needed.
  • Broker helps buyer identify financing sources.
Step 9. Broker opens escrow.
  • Closing documents prepared by escrow.
  • Owner and buyer review completed documents.
  • Broker helps resolve remaining contingencies and third party financing.
Step 10. Closing the deal.
  • With broker's input, owner and buyer plan announcement to employees and other stakeholders.
  • Broker coordinates signing of documents and transfers funds to escrow.
  • Escrow disburses funds as instructed in closing agreement.
  • Owner transitions business management to buyer and provides training as agreed.
Deal done, training done and everyone moves on to a new chapter in their life.
 

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ProBizseller, Inc. DRE ID 01299066 - 30 Avenida Cristal, San Clemente, CA 92673
Phone 949-788-7775, Fax 949-666-6619, e-mail rick@probizseller.com

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