Your business may well present the largest single sale you will ever make. But it is a highly complex entity and you’ll be selling it into a totally unknown marketplace. Getting it wrong is simply not an option.
Make no mistake; the sale of your business can be a huge risk. Look at almost every business sale and you’ll find that there is a long story of negotiations, hitches in the sale process and unforeseen challenges. Rarely does a sale run smoothly.
For many business owners, this risk is too great to take on themselves and they choose to enlist help from a business sale specialist. These specialists are experienced in selling businesses, avoiding the pitfalls and obtaining the best possible sale price.
If you choose to do the same, what should you expect from your business sale specialist?
Experience taking businesses to market and successfully selling them is absolutely vital. Your business sale specialist should be able to demonstrate multiple examples of doing so.
The business sale marketplace, like any other marketplace, changes regularly and your specialist should know which types of companies are in demand and what level of sale values are being achieved for companies like yours. This will help give you a realistic understanding of the likely prices and terms of offers.
Your specialist will be managing the business sale for you and representing your business. They should be professional at all times, providing clear direction, advice and management of the sale process.
Selling your business involves the same marketing processes as you use for your own products and services. All the positive aspects and elements of your business will need to be communicated to potential buyers. Your business will require some or all of the following: an emailer, a letter, a telephone call script, an advertisement and a Non-Disclosure Agreement. With your input, your specialist should be able to create all these for your sale.
This is one of the most important aspects of your sale and getting this right will pay dividends at the end of the process. Specialists achieve this in a number of ways including:
Negotiating a business sale successfully requires great skill. Your specialist should manage this for you, advising not only on how and when to impart important information but also advising on receiving and improving offers.
Once the terms and sale price have been agreed, due diligence and legal procedures are undertaken. This can be a lengthy process and minor issues can often slow things further. Your specialist should manage this carefully with you to ensure that this final stage progresses smoothly.
Although the final completion of the sale is often undertaken by both parties’ legal teams your specialist should be on hand to ensure this final step is also not held up by any minor issues.
“Selling a business can be difficult and fraught with challenges. Without specialist help, there is a high risk that your business will be unsold and you will not receive the true value for many years of hard work and dedication.
“Think carefully before undertaking it yourself as the potential perceived ‘savings’ may be offset by the time you invest in the process as well as a lower sale price.”
Explore the options available to you, improve your chances of successful sale.
If you’re seeking a business to buy, then we can increase your deal flow.
In the early stages of such an important undertaking, it can be a bit of a moral maze: who do you trust?
Firm Gains gave me confidence with detailed advice and support. I would recommend their services to other entrepreneurs seeking to buy a business.Mr T Washington , Founder
I found it much easier to get my head around a business sale this way than talking to my accountant. You speak a language I understand!
Even though the whole process of selling seems daunting, I’ve got more confidence that I’m heading in the right direction.Mrs T Boothe , Founder
Thank you for your email and the excellent advice provided earlier this week. It was immensely helpful and has helped me to plan my future direction for the practice.
I would have no problem whatsoever in recommending your services in the future.Mr & Mrs Halldron , Co-Owners
Firm Gains were recommended to me and I was not disappointed. They were efficient, helpful and effective responding quickly to my request with all the facts that were needed to ensure a stress-free dialogue with our buyer.
What really helped was the advice over and above the valuation, which was immensely valuable and gave me the confidence to proceed. I would not hesitate in recommending them.Mr C Waite , Founder
We found the advice invaluable, which was clear and concise and felt your firm had a good handle on market trends and business sectors.
With also the backup of the secondary services, there was a feeling you had all bases covered if we wanted to proceed with our exit via Management Buy Out (‘MBO’).Mr D Wills , Director
Thank you for your advice. I was just about to sign up to the wrong kind of business agent for a company of our size, but read your post just in time.
I found a more serious partner, with experience in our industry and we’re already using the same language.Mr F Summerscale , Managing Director
We have been greatly impressed by the clear and impartial advice given to us by Firm Gains. After just an initial phone call we felt much better informed, with a new awareness of the many options available to us.
Firm gains understood our situation quickly and clearly and were anything but ‘pushy’. Refreshing compared to what we’d experienced before.Mr C Hutcheson , Managing Director