Selling a Business
The process of selling a business
can be a very rewarding and productive experience. Venture Group
Business Brokers gives 110% to ensure that it's clients reach their
goals. The process begins with a preliminary, no-obligation meeting
that is scheduled at the Sellers convenience, usually at his/her
place of business. VGBB and the Seller can become acquainted with
each other and exchange general information. Then an evaluation
is performed to provide the Seller with a price range which he/she
can expect to receive for the business. The information required
to analyze and evaluate the business includes the following:
Three to five years of detailed
and current financial statements, including income statements, balance
sheets, and income tax returns. List of furniture, fixtures, equipment,
inventory, trade names, patents, and other assets to be transferred
with the business. Real property and equipment leases. Any other
contractual relationships of the business. Other information which
will affect business operations.
The Seller and VGBB work together to establish the asking price
and terms for the business. A contractual agreement is entered into
between the Seller and VGBB which gives VGBB the right to market
the business as the Sellers representative for a specified time
period.
VGBB will develop and implement
a marketing plan unique to the business and propose a package to
target prospective Buyers.
The Seller is responsible for
maintaining or improving the value of the company by attending to
daily operations. He/she is also responsible for providing updated
and/or additional information required by buyers.
VGBB will schedule all showings,
conduct negotiations on behalf of the Seller, provide contract forms,
coordinate professional advisors, help to satisfy contingencies,
and supervise the closing. At the closing, the Seller receives his
check.
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