Can Selling Your Business be a DIY Project?
Posted by Tony Samples on
Business owners often consider trying to sell their business themselves. For some people, this may be a viable option, but for most it isn’t a wise business decision. There is a lot that goes into the complicated, time-consuming process of selling a business. When you hire an experienced business broker, here’s what we do for you:
- Determine if the business sellable
- Perform a valuation so you know what it is worth on the open market
- Prepare the listing agreement
- Prepare a one-page marketing teaser
- Prepare a confidential memorandum to send to potential buyers with information about your business
- Market the business confidentially and nationally
- Prescreen buyers and have them sign non-disclosure agreements
- Facilitate buyer/seller meetings
- Prepare an offer to purchase
- Handle negotiations
- Facilitate due diligence
- Assist buyer with securing financing
- Review closing documents
- Close the deal
If you are comfortable completing all of these tasks professionally and confidentially while still running your business, you might be able to pull this off yourself. If you’d rather partner with an experienced business broker who will guide you through the process and spend their time focused on your deal while you keep the business functioning well, give us a call.