Preparing is Key

We are acutely aware of what it takes to sell a business. 

Preparing and aiding the seller to achieve the maximum gain from the sale, are two important roles of the professional Intermediary. 

Owners sell their businesses for various reasons: retirement, partnership disputes, personal relocation, family concerns, the desire for change, illness, or to enter another business venture. 

Knowing the reason for the divestiture helps my team in structuring the most advantageous transaction. We turn to our professional alliances to help you seek the appropriate tax strategy, succession plan, or investment strategy to again help you maximize the benefit of the sale.

We have identified key specifics needed in order to ensure a successful transaction :

Having provable books and records (preferably prepared on an accrual rather than cash basis) is an essential first step. Buyers want proof of sales and profits the business has attained in the past

List of assets including furniture, fixtures, and equipment.
A complete inventory that can be referenced during inspection

Attractive lease
Knowing the terms of assignment or of a new lease

Best possible appearance
Having the business premises neat, clean and in good repair

Evaluating the business properly
SSA are experts in providing a professional, fully documented report of value  on the business plus a list of comparable actual sales of similar businesses.  This creates a document that proves value to the buyer and justifies price.  This report is usually provided at NO CHARGE to our clients

Covenant not to compete
Preparing the terms of non-competition within an appropriate distance and for a reasonable period of time

Reason for sale
Buyers will want to understand the reason for sale and be comfortable that there is not undisclosed information that could negatively affect their investment in the future

Time is of the essence
Be prepared to move forward when a qualified buyer shows interest in the business

No surprises!
Most adverse situations, such as landlord problems, outstanding loans, tax arrears, unfavorable equipment leases, and even non-compliance with zoning, health or other regulations, can be overcome if they are dealt with in advance and in a timely manner

© 2017 Solomons Strategic Advisors