How To Sell Your Business – Our Process
| Event | Who | Agenda |
|---|---|---|
| Initial Meeting at Business | NJ Broker and Seller | Reasons for Selling Business history/profile/high level financials/fact sheet info Our Credentials Documents Needed - Tax Return, Lease. Equipment List |
| Second Meeting | NJ Broker and Seller | Shake hands Co-sign Engagement Letter Complete seller interview Agree on listing price Fact sheet approved by seller |
| Listing the Business | NJ Broker | Advertise on Business Broker Sites Speak to Brokers in our Network Email Marketing |
| Interviewing and Qualifying Buyers | NJ Broker | Buyer signs an NDA/Confidentiality Agreement Completes buyer profile |
| Proof of Funds | Buyer | Buyer provides documentation (bank statement, etc.) showing balance for purchase / down payment. |
| Showing the Business and/or Conference Call | Seller/NJ Broker/Buyer | Tour of business Review of financials |
| The Offer | Buyer/NJ Broker | Formal letter of intent Refundable good faith deposit |
| Due Diligence | Seller/Accountant Buyer/Buyer Accountant and/or Attorney | 3 Years of Tax Returns Balance Sheet YTD P&L Lease Equipment list Inventory list Validate financial statements Validate all seller representations |
| Lease | Buyer/NJ Broker/Landlord/Attorney | Assignment of Lease |
| Legal | Seller/Buyer Attorney | Contract of Sale and other Legal Documents Attorney review by Seller attorney |
| Closing | Buyer/Seller/NJ Broker/Attorney | Sign/Co-sign All Documents |
| Training | Seller/Buyer | Turn business over to new owner |
