Our Process to Selling a Business

Selling Process:

Step 1: We collect vital information about your business, which will then be analyzed and compared to similar businesses.

Objective: This will give you a top-level assessment of industry-wide performance (geographic location considered) and business valuation.

Step 2: We recast the business balance sheets and income statements (or in many cases, the owner’s tax returns) to reflect the economic performance of the business.

Objective: To report the fair market value of assets and discretionary income. This is what buyers will need for their buy assessment.

Step 3: We will complete a valuation report for your business, sharing with you best practices in your industry and financial ratios from similar size businesses.

Objective: To justify the selling price.

Step 4: We prepare a Confidential Memorandum to enhance the presentation of vital business information when making presentation to prospective buyer(s).

Step 5: We develop a marketing plan for the following regions:

  • New England – Main Focus
  • National

Marketing plan to include:

  • Local and national listing through online subscription based aggregate sites
  • Targeted Direct Marketing campaigns
  • Leveraging First Street’s extensive database
  • Other – i.e. Networking

Step 6: We screen all buyers that express interest in your business.

Criteria:

  • Financial capacity to buy
  • Reference check
  • Buyer profile – i.e. related experience, time frame
  • Executed confidentiality agreement

Buyers who meet criteria will be able to view the following in respective order:

  1. a) Business profile: summary information of business (no identity of location or business name)
  2. b) Confidential Sale Memorandum along with related financial documents

 

Step 7: We encourage the buyer to submit a former Offer to Purchase.

Step 8: We meet with seller to view buyer offer. If seller agrees to structured offer, First Street Business Brokers will facilitate the buyer’s further examination of business (due diligence process).

Step 9: We arrange closing and assist buyer in structured financing.

 

 

Confidentiality Guidelines:

  • All correspondence (verbal and written) between seller and the First Street Business Brokers, LLC to be held in strict confiden
  • No information will be shared with third parties without consent from the
  • Confidentiality is bound by “Confidentiality Agreement”, which includes any potential buyers who may be interested in your
© 2024. All rights reserved. First Street Business Brokers, LLC.