If you’ve ever sold a home, you know how complicated it can be – the seemingly endless paperwork, the frantic attempts to clean the house before a last‐minute showing, the frustrations of negotiation. Selling a business is much more complex – and unlike residential real estate, there is no central resource of businesses that are for sale or of qualified buyers willing to buy them. So as a business owner, how do you find the right buyer?
An experienced advisor will be an invaluable partner throughout the entire sale process,nging buyers to the table and helping you maximize the purchase price. But not all advisors are created equal. Here are some qualities to look for in a reputable advisor:
Once you have secured a trusted advisor, move over and “let them drive” for a while. The sale process begins with some background steps that include the collection and analysis of your company’s financial and descriptive data. This leads to two other parallel phases: buyer identification and preparation of the descriptive memorandum and executive summary. These are critical first steps that will chart the course to be followed and should result in the setting of reasonable expectations as well as the role you will be playing in the sale process.
Gregory Cook is a Director at Prairie Capital Advisors, Inc. He can be contacted at 630.413.5567 or by email: firstname.lastname@example.org.
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