Your commitment to sell your business at a price and terms must be consistent with the willingness of the marketplace to pay the price you’re asking.

Background Information and Documentation

You need to provide us with all of the necessary documents, data, and background information required to sell your business.  If we know the strong points of your business, as well as the weak points, we can use our sales skills to your best advantage.

Quality

We will locate and qualify the potential purchaser.  In this process we will match up the potentials skills and ambitions of the purchaser against those needed to run your business.  Although we can preliminarily screen potential buyers for cash available, you will need to make your own judgment as to the financial qualification of the buyer.

Marketing

Your business will have selected, but effective exposure.  We will also advertise businesses similar to yours in addition to marketing your specific business to get the greatest response and the greatest number of showings.  Your business will be marketed by other BIR offices as well through our exclusive computer network.

Showing and Confidentiality

Be prepared for our sales associates to show your business (discreetly) to a potential purchaser.  After the tour, we will discuss at length the various components of your business and its benefits for the potential purchaser.  We will not, however, normally show detailed financial information to a buyer until after an offer, accompanied by earnest money, has been made.

Meeting

If a meeting with the purchaser is necessary, we will accompany you.  If the buyer requests certain documents, or detailed financial information, defer to us (your broker) to provide it at the appropriate time.

Offer to Purchase

The purchaser will submit an Offer to Purchase accompanied by an earnest money deposit.

Present Offer

We will contact you and those involved in the sale of your business to meet at our office.  In the office we will present the buyer’s offer.

Background

We will provide you with background information on your purchaser.

 Explanation

We will explain the terms and conditions of the offer.  Note that most offers are contingent upon an inspection of the books and records.  The closing cannot not take place until all of the contingencies have been removed.

Offer Options

With all offers you will have the option of accepting, rejecting, or countering the presented offer.  In most cases we will recommend against rejecting an offer; instead, it is normally best to counter even a low offer in order to start the negotiating process.  If this still leads to unacceptable price or terms, you may always reject it at the time after all other options have been exhausted.

Offer/Counter-offer Notice

When you accept the purchaser’s offer or write a counter offer, we will then notify the purchaser of your acceptance or your counter offer.  Since timing if very important to maintain the momentum of an offer, we will recommend a very timely response on your part, as well as the buyer’s.

Mutual Acceptance

This occurs when you and the purchaser agree to all terms and conditions of the sale and sign all of the necessary offers and addendums.  This agreement will then become known as the Offer for Purchase and Sale.

Inspection of Books and Records

We will accompany you during your meeting with the purchaser to examine and review the financial records of the business.

Contingency Removal

Both parties will remove all existing contingencies in the Offer for Purchase and Sale.

Consent to Assign

Your lease or a new lease will be secured from the landlord.

Open Escrow

We will provide the escrow attorney or company with copies of all necessary documents so that he or she can prepare the escrow closing.

Closing Scheduled

An appointment will be set to review and sign the closing documents.

Inventory

If required, we will assist you and the purchaser in taking inventory or recommend an inventory service.

Closing

Both parties arrive at the escrow attorney’s office to sign the documents.