Selling a Business
At absales we aim to make the whole experience an enjoyable, stress-free one from the first meeting through to “handing over the keys”. We are with you every step of the way, from assessing then advising on the best way to market your business through to working with the accountants, solicitors and financiers once a satisfactory deal has been negotiated.
ITEMS DISCUSSED WITH THE VENDOR PRIOR TO AND DURING THE LISTING PROCESS
- Is the timing right for you to put the business on the market?
- What is the most probable selling price in the current market?
- What is the reason for selling?
- How much information is given to the purchaser, at what stage in the presentation and in what format?
- What is actually for sale?
- The vendor is provided with list of the information required including statutory requirements
- How does the Vendor deal with staff, suppliers and customers?
- What level of confidentiality is required?
- Are there any competitors who should or should not be approached?
This is by no means an exhaustive list and because every business is different we tailor each discussion to the business and vendor and provide a check list for your convenience.
A typical order of events is set out below :-
- Meet the Vendor, look over the business and property to gain a full understanding of the operation – this is the research and planning stage
- Gather documents necessary for presentation to an intending purchaser
- Prepare an advertising and marketing schedule for approval – this is different for every industry and individual business
- Where required, write an information memorandum for both electronic and print media
- Screen enquiries and those that are suitable complete a confidentiality agreement prior to being given the location or property details
- Carry out inspections with the purchasers and be on hand to direct questions and answers
- Assisting the purchaser with letters of offer and handling the negotiation process
- Once a deal is agreed, informing the solicitors for both parties and assisting the vendors solicitor where necessary in getting the contracts prepared
- Attending to the due diligence matters as required and work with the relevant professional to ensure a smooth transition
- Assisting the Vendor with handover and training procedures