Although the sale process can differ depending on the deal, here's a general guide on what's involved.
1. Non-obligation consultation
This is a great opportunity for you to find out what we can do for you. Its also an opportunity for us to understand your business, understand your motivations for selling and ascertaining your expectations from a potential sale. We will discuss the various options available to you and answer any questions you may have.
2. Valuation
We will give you our opinion on the value of your business.
3. Instruction of sale
This is where you instruct us to sell the business. An agreement will be signed whereby you agree to the terms of engagement and permit us to sell your business at the agreed price.
4. Marketing
At this stage we will start the marketing process. Our marketing approach will include all or some of the following:
- Compilation of a confidential sales pack
- Confidential listing on our website
- Confidential direct approaches to potential purchasers identified by us
- Advertising via local press
5. Confidential Screening & introduction
Each prospective purchaser will be required to sign a confidentiality agreement before any confidential information is released.
6. Meetings with potential purchasers
A meeting will then be chaired by us. This is a good opportunity for you to quiz the potential buyer and for the buyer to find out more about your business.
7. Offers & Negotiations
If an offer is made, we will inform you immediately. Any further negotiations will take place at this point.
8. Agreement & 'Heads of Terms'
Once the offer has been agreed, we will draft the heads of terms to be signed by both parties.
9. Buyer due diligence
This is perhaps the most crucial stage of the process. Before completing, the buyer will perform final checks to see if the business is what it's presented to be. We will help in this process and communicate any issues that may arise.
10. Legal Advisors
At this point, the legal advisors from both parties will need to be contacted.
11. Progress to completion
We will chase up the relevant parties to ensure that the deal is on track and keep you up to date until successful completion.
To book your free non-obligation consultation at our office, please contact us.
Please note: The sale process can differ depending on the type of deal. Please use the above process as a guide only. |
