Is the service available to Buyers and Sellers of small private businesses, from mom and pop shops and vocational businesses up to regular businesses with sales volume of possibly up in the ten million dollars range.
It all start when the owner of the business, feeling a need to transition the business to someone else, finds the opportune time to put it on the market, and engages the services of a broker.
The process generally follows a number of steps, as listed below:
- The broker and the Seller meet to plan the course of action for the sale
- The broker promotes the sale of the business, as per the terms of the engagement
- The Broker introduces qualified prospective Buyers to the Seller and to the business
- Interested Buyers do an initial evaluation and submit their proposals for the acquisition
- The Seller picks the proposal felt to be the best, and proceeds further with it
- Negotiations and in-depth review of the business culminate in a definitive buy/sell agreement
- Respective accountants and lawyers in the deal complete the sale.
- The Seller receives the proceeds of the sale
- The Buyer Takes over the Business
By the time this is over, a few weeks or months will have gone by, depending on the size of the deal itself. At the end, the Seller and the Buyer work through a period of transition.
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