Below we share our sellers process.
1 – The first step in selling a business is to analyze the business operation, collect all the facts and historical financials, the age and future potential of the business. With the financials and projections and looking at the market history and similar business sold in the area, we then create an estimated value and the best price of the business. That is beginning of the representation of your company.
2 – Having collected all the information including some photographs, a business summary and presentation is created. We make sure that the price is appropriate according to the market demand and all the facts and figures, and that the future projections and growth has been taken into consideration. At this time, we create a listing agreement or an authority to sell the business and have it signed by the Owner/ President of the entity.
3 – Now comes to the time to Market the business aggressively. We contact potential buyers from the network, use advertising and digital/social marketing techniques and share the opportunity with other qualified professionals in the business. The idea is to get an offer as soon as possible. During all this process, a perfect confidentiality is maintained as we protect the business and its goodwill at all times.
4 – Every buyer interested in an opportunity is being pre-screened. We valuate the buyers financials, strengths, skills, background, and have signed a confidentiality agreement before any detailed information is given to them.
5 – As your representative we negotiate the best possible price closest to your expectation or asking price and help the buyer(s) in arranging financing.
6 – Having the agreement signed we help open the escrow with a reputed escrow office in the area, coordinate the total due diligence process, and guide you through all relative activities: Lease assignment, franchise transfer, license and permit, transfer of all accounts, and move towards a smooth closing.
7 – The above process illustrate a total umbrella coverage and full service from beginning to close. Sometimes we represent both the buyer and seller. In that case extra care is being taken for confidentiality and a balance of professionalism is maintained.
8 – After the close: We always stay in touch with the sellers and buyers for any after-closing questions and any type of advice and consulting necessary.
9 – As for the sellers, we provide adequate advice towards re-investing in another venture, business, commercial real estate, other options. In case of 1031 exchange, we are fully prepared and are involved with a plan from the beginning. Inquire further with Narender!
© 2020 Commercial Business Unlimited – All Rights Reserved Narender Taneja: CA BRE#01204165 Bay East ©2018. CCAR ©2018. bridgeMLS ©2018. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 12:00am PST Apr 24, 2020.