How to Sell a Business
A Strategic Roadmap
Talk to an Expert
If you're thinking about selling your business, talk to BizEx
BizEx specializes in the sale of small and medium sized businesses and has worked with thousands of business owners and buyers. We know that selling a business is more than just a financial investment; it's a life changing event for both the Buyer and the Seller. We distinguish ourselves by providing personalized, high quality services to our clients.
Our expertise enables us to objectively value your business and to communicate that value to a buyer. We create a custom marketing and presentation package for every business we represent, and then we aggressively and confidentially market the business for sale. Throughout the process we keep our clients informed and advised while we handle the complexities of this important transaction so they can continue to operate their business.
You can view our online video testimonials for samples of our work. We provide a free valuation and consultation for owners who are considering the sale of their business.
Valuing Your Business
The value of most businesses will be based on more than just its assets.
This means a buyer will not be able to simply look around your shop and know what its worth. Our job is to identify all of the key elements of your business that create value and collect all of the information we need to substantiate it to a buyer. This includes books, records and other supporting documentation.
Our evaluation process goes beyond a simple multiple of earnings method that is common in our industry. Our analysis goes much deeper. We ask: “How do you promote your business?”, “What makes you different?”, “What are the risks and rewards facing a new owner?”, “What skills are required to operate the business?”, and “Who is the ideal new owner?” Our ability to understand and communicate the intangibles of your business will have a significant impact on the sale and value of your business.
Going to Market
We know what buyers are looking for and how to get your business to stand out from the crowd.
BizEx maintains a centralized buyer database of over 9,000 qualified buyers who are actively looking for businesses for sale. We also advertise in all of the major business for sale listing directories and will contact industry, strategic and investment buyers directly to achieve the widest exposure possible.
The better we understand your business, the more effective our marketing will be. We start by putting together a comprehensive marketing package called a Confidential Business Review (CBR) that provides all of the information a serious buyer needs to make a purchase decision. This in depth exercise allows us to optimally position your business for sale and to attract the right buyers through key words and selective messaging.
Full Time Job
Selling a business is a full time job that takes an average of 6 to 9 months to complete.
During this time we communicate with prospective buyers, review our marketing efforts and adjust our messaging as applicable. If a buyer is interested, we facilitate the negotiations, line up financing, schedule due diligence, assemble documents for escrow, and move the process through to its completion.
The best use of the Seller's time and effort is to continue to operate their business at a high level; staying focused on what they do best, and letting us do the work of promoting their company.
Managing the Process
Process automation and expertise allows BizEx to stay on top of a transaction and keep the deal moving forward.
We automate as much of the process as possible to save time for everyone. Buyers can fill out online forms to request information on a business and in some cases get a response in minutes. Traditional methods can take days or weeks before they get a response.
Sellers can view all of the Buyer profiles who have received information on their business, from their online account at any time. Most of the transaction documents are automated through our proprietary online CRM system, making it easy for our Brokers to add or adjust documents as necessary, increasing consistency and reducing unnecessary errors.
The more efficient we are in processing and procuring buyers, the more likely we are to sell the business for a fair price.
Selling a business is not just about the numbers, it’s about conversion.
Regardless of how hard we work to generate buyer activity, for many businesses there will be a limited number of buyers both capable and willing to pay a fair price.
All of our agents are trained in the integrity based consultative sales approach. We understand buyers. We know what they are looking for and how they value businesses. Informed and qualified buyers are more likely to pay a fair market price. They are also more likely to get financed, consummate a deal, and ultimately succeed as new owners.
Matching the right buyer with the right business is how we define success.