Obtaining Professional Advice

In most cases, it is helpful to retain an advisor who can help prepare both the business and owner for the sale process. Specifically, the seller's representative can: 

•                Prepare a preliminary valuation analysis to establish a price that would be acceptable to the seller (let the potential buyers determine their own asking price - beauty is in the eye of the beholder). 

•                Prepare a financial memorandum. 

•               Consider different transaction structures and the tax consequences of each. 

•                Identify and contact logical buyers. 

•                Evaluate any proposed transactions. 

•                Assist the buyer in locating financing, if necessary. 

•                Assist with negotiation and closing.

Stay tuned for Part 4 - Getting Your Business in Shape for Selling