How to Sell a Business in Florida
Your business will be marketed in complete confidentiality – Sunbelt’s intermediaries understand the importance of maintaining the ongoing operation of the business. We can show you how to sell a business with Sunbelt Business Brokers.
Utilizing the services of a Sunbelt South Florida business broker will insure that your business is properly prepared, packaged and confidentially marketed to the largest number of prospective buyers.
Click on the tabs below to read more about how to sell a business:
#1 Prepare to Sell
Once you have decided to sell, you need to begin getting ready to present your business to prospective buyers.
- Organize financial records: Three years tax returns and financial statements will be needed to demonstrate the financial history of the business.
- Clean up & repair equipment: The first impression is very important to a buyer. Your business should appear well-organized and clean with all equipment in operating condition.
- Normalize inventory: Salable inventory will be included in the sale. Remove any stale or obsolete inventory.
- Evaluate you financial needs after the sale.
#2 Retain Sunbelt
- Schedule a Meeting with a Sunbelt broker to discuss objectives.
- Discuss valuation, salability, marketing and buyer expectations.
- Execute Sunbelt representation agreement.
#3 Complete Valuation
- Understand valuation techniques: Your Sunbelt broker will provide an opinion of value with no cost or obligation to you.
- Engage third-party appraisal firm: third-party independent appraisal is highly recommended but not required.
- Determine asking price
#4 Create business profile
- Detailed historical performance: How did your business get from start-up to where it is today?
- Identify growth opportunities.
#5 Market the Business
- Develop a marketing strategy utilizing proven Sunbelt marketing techniques.
- Maintain confidentiality.
- Manage your business during the marketing period.
#6 Identify Buyers
- Pre-qualify prospective buyers. All buyer candidates screened to insure they have the financial capability and background needed to buy your business.
- Obtain confidentiality agreement from prospective buyer.
- Arrange on-site meeting with buyer at the sellers convenience in order to maintain confidentiality.
#7 Present Offers
- Obtain offers from prospective buyers.
- Evaluate offer to accept or counter-offer.
- Facilitate negotiations of terms & conditions of offer.
- Prepare for due diligence.
#8 Due Diligence
- Respond to request for information from buyer.
- Review offer with attorney and amend if necessary.
- Assist buyer with information needed for financing.
#9 Closing Attorney/Escrow
- Prepare closing documents for review by both parties.
- Review completed closing documents.
- Resolve any remaining contingencies.
#10 Closing
- Plan announcement to employees.
- Sign closing documents and transfer funds.
- Transition management to buyer.