1. Introductory meeting
- Gain an understanding of the prospective seller’s business
- Learn seller’s personal needs and objectives
- Profile Bridgeview Brokers
- Explain the steps in selling a business as well as key documents
- Request information required for business valuation
2. Estimate business value
3. Second meeting
- Review results of value analysis and key variables affecting value
- Gather additional information from seller
- Determine if market value range is acceptable to prospective seller
- Explain sales process in more detail and protection of confidential information
- Provide additional information including Representation Agreement
4. Prepare and sign a Representation & Listing Agreement
5. Develop and implement the marketing plan and materials
6. Prequalify business for financing
7. Screen prospective buyers
- Confidentiality agreement
- Client Buyer Profile (financial ability, operational capability)
- Meet and discuss questions and next steps
8. Coordinate Seller meetings with prospective buyers
9. Facilitate additional questions and answers
10. Letter of Intent
11. Purchase and Sale Agreement (includes reviews by attorneys)
- Earnest money deposit
- Prepare timelines and gain approval, then manage process
12. Due Diligence
13. Financing, lease assignment, non-compete agreement
14. Purchase price allocation (with CPA recommendations)
15. Closing (though Escrow company)
16. Transition (training)