Once an owner has made the decision to sell a business, we work with the owner at every stage of the selling process.
Many sellers will ask why a business is up for sale. Sometimes a simple “Other Interests” will raise suspicions with certain buyers. We will assist you in developing a good story.
The seller will need to gather accounting information, tax information, a copy of the lease, a list of furniture and fixtures. Sometimes, a buyer may need to spend money for accountants fees to develop financial information necessary to consummate the transaction.
But the most important thing in the sales process is for the owner to keep the business performance consistent. A potential buyer must be comfortable that the business will continue to do for him what it has done for the prior owner.
Finally, there is usually a training period where the owner is available to the buyer. This can vary based on the complexity of the business and industry.