The ultimate price you will realize from the sale of your business will most likely be a multiple based on your discretionary income (total owner benefit) and what other businesses in your industry typically realize upon sale.
We have owned and sold businesses as well. We know what an involved process it is to not only prepare your business for sale, get a signed contract and then go through the due diligence period with a buyer. It is an emotionally draining process that you do not want to repeat multiple times, especially while continuing to run your business at an optimal level.
Suncoast Business Consultants encourages you to meet with us if you going to sell your business or just considering this as an option at this time. Even if you are not ready to sell now, please keep us in mind in the future. We can work with you to obtain the maximum amount of money possible with terms that are fair for both yourself and the buyer.
Preparing to sell your business
- Valuation – “Recasting” of your financial statements and help determine the true annual benefit of owning the business (Sellers Discretionary Earnings – SDE). Researching sales of similar businesses and industry reports to determine the selling multiple in your industry.
- Offering Memorandum – Preparation of a confidential marketing package for qualified buyers who have signed a confidentiality agreement (NDA). This will include a detailed description of your business, suggestions on how to increase sales and market share, photos and financials.
- Marketing – your business on numerous websites, email blasts, via network with other business brokers, professionals and direct mail. The following link shows many of the websites we use to promote your business listing. https://suncoastbiz.net/promotion-websites/
- Prospects – Pre-qualifying prospects to ensure they have the ability to buy the business, are not competitors or “bird dogs”, set appointments to tour the business and meeting with the owner.
- Preparing the Offer – Helping to prepare an offer and present to the business owner for review, approval or counter offer.
- Due Diligence – Managing the due diligence process including facilitating all documents requested, lease assignment from landlord, escrow deposits, transfer of utilities, vendors etc…
- Closing – Attending the closing and assisting with managing transfer of business to new owners.
- Post closing – We keep in touch with all clients as we are interested in knowing how you are doing and have genuine interest to see buyers and sellers succeed in their new ventures.