Organization

Before your business can be marketed to sell, it must be organized. Your corporate documents should be saved in electronic formats that can be easily and confidentially shared. Such documents include company financial records and tax returns, processes and procedures, employee handbook, etc. Ensure all necessary licenses, permits, and certifications are up to date. Verify that your business complies with local, state, and federal regulations. Any outstanding compliance issues should be resolved promptly. Also, take a close look at your business's operational efficiency. Identify areas where processes can be streamlined or improved. BBA can offer valuable insights into optimizing your operations, making your business more appealing to potential buyers. Imagine that you are the one looking to purchase your business.

Establish Asking Price

BBA will provide a comprehensive valuation of your business. This step is necessary to determine a realistic and competitive asking price for your business. BBA will conduct a Market Price Analysis - Valuation providing an objective assessment of your business's worth, helping to determine if it is the right time to sell and assisting to set a price that attracts serious buyers.

Prepare to Market/Professional Advice

BBA will create marketing materials to put your business in the best light possible to introduce to potential buyers. We will create an appealing marketing package that includes a compelling business profile, financial documentation, and other relevant information. During this this stage, we advise that you consult with legal counsel and a CPA or tax advisor to mitigate risk and minimize taxes. Proper legal and tax planning is crucial in order to maximize post transaction success.

Attracting Buyers

BBA will confidentially market your business to screened, qualified buyers. Be prepared to attend conference calls and meetings with potential buyers. Expect challenging questions from serious buyers and address them candidly. Your transparency fosters trust and confidence in qualified buyers. Keep in mind that selling your business is a process; you may have many buyers look at your business before finding the right one.

The Offer Stage

BBA will present any and all offers presented to us. We will evaluate the pros and cons of each offer with you and assist in negotiating and accepting the best offer that fits your goals.

Accepting an Offer

Once an offer is accepted, BBA will work closely with the buyer, seller and other professionals in order to facilitate the necessary documents for the sale to reach closing.

Closing

The final stage in selling your business is closing. The primary goal at closing is to have the agreed upon consideration of the sale deposited into your account, as well as having the transfer documents executed properly and smoothly. This will be a very memorable day and hopefully one that brings happiness.