Selling Your Business In South Florida.
Selling your business is one of the biggest decisions you will make in your life and is often filled with a high level of emotions. Suncoast Business Consultants understands that this process involves many moving parts and can become overwhelming. Preparing your business for sale, marketing towards the right buyer, getting financials in order, continuing to run the business while it is for sale, keeping the sale confidential and understanding the tax consequences would be quite an undertaking for anyone. Furthermore, this is typically not a process you have gone through before or at least not on a regular basis.
This is why it is essential to contract the services of a business broker such as Suncoast Business Consultants who will guide you through this process. Our firm will meet with you to understand your needs and expectations. We will review your operations and go over your business financials, current lease or real estate, post sale desires and then what you can realistically expect based on market conditions.
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 – How Much is by business worth? “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.
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.