HOW TO SELL
YOUR BUSINESS
WITHOUT A 

BUSINESS BROKER

In the EBook  You will also get a detailed description of the Selling Process.  In the book, I will separate each step into its own chapter and discuss in detail, including the necessary forms needed. I will also talk about how to maintain control throughout the entire process.  The following bullets highlight the major steps in the selling process.

• I  have developed a checklist of documents and other materials that should be collected in preparing for sale. When a buyer is ready, you do not want him or her to lose interest or find another deal while waiting on materials. I will also talk about what your business is worth and how to evaluate this worth.

• The Executive Summary is a description of the Company, with its financial highlights and unique characteristics that a potential buyer may find attractive. The Confidential Portfolio is a rather complete description of the Company, including its markets and products, presented in such a way as to assist potential buyers in a preliminary review of the company.  

• Identifying and pre screening potential buyers is the next step in the selling process. You will want and need to employ various sources and methods for identifying and contacting buyers and I will show you all these methods in the book.

• Initial contact and pre screening buyers should be for the purpose of determining the buyer’s level of interest in acquiring your business. During these discussions, you attempt to determine the major reasons for the buyer’s interest in the Business, his or her objectives in purchasing the Business and the timetable to complete the transaction. I will step you through what questions to ask and why.

• Once you understand the buyer’s motives and objectives in acquiring your Business and the buyer understands the opportunities that your Business offers, price and terms may then be discussed. Deal structuring provides the vehicle for meeting your needs, meeting the objectives of the buyer and balancing the risk of the transaction. We will also discuss how to be assured that the buyer has the resources to purchase the Business at the price and terms discussed.

• After all material issues have been resolved; the buyer may present an offer to purchase or a letter of intent. Or the buyer may want to go directly to an offer to purchase agreement. There are samples of the offer to purchase in the book; and your attorney and your tax advisor should carefully review it prior to your acceptance.

• During this phase, the buyer will seek to substantiate and confirm what he has come to understand about the Business. Due diligence may be performed by the buyer, his staff or an independent third party. This step may take several weeks or longer to complete. Areas of investigation may include technical aspects of the Business such as products, management, customers and compatibility of operations; financial aspects including a review of financial statements, tax returns, physical inventory and warranties, etc.

• During Following the completion of the buyer’s due diligence, including the resolution of any issues that arise from the process, a definitive purchase agreement may be prepared. This is usually the base document that will be used for the closing. The closing should be done by a “neutral” closing attorney or may be done at the offices of your attorney.