9-Step Process to Successfully Sell Your Business

Organize financial records, streamline facilities and inventory, implement cost-effective improvements, and plan for both transition and post-closing financial needs.

By working with your broker, you can: - Understand business valuation methods. - Prepare a selling price report. - Consider market feedback. - Set your asking price and sale terms.

Your broker helps you create a positive, factual summary of your business, including: - Its history. - Financial performance. - Your role and growth opportunities. - Areas of competitive weakness.

By using the Grand Business Brokers Network, you: - Maximize buyer exposure. - Maintain confidentiality. - Focus on running your business while your broker handles the sale.

Your broker confidentially presents your business to potential buyers, screens them for interest and experience, secures NDAs, and arranges meetings between you and serious buyers.

Once a buyer is found, your broker: - Gathers offers. - Moderates negotiations. - Helps identify the best deal. - Outlines due diligence steps. - Sets the closing date.

Your broker assists by: - Responding to information requests. - Adjusting the term sheet if needed. - Helping the buyer with financing. - Coordinating with other advisors.

After due diligence, your broker helps: - Prepare sales documents with your legal counsel. - Handle advisor requests. - Keep the process on track. - Finalize the deal.

After selling your business, you should: - Inform employees, customers, and suppliers of the ownership change. - Transition management to the buyer. - Assist with any post-closing questions with the buyer.