What Does Our Sales Process Look Like?
When hiring a business broker Irvine, the first thing you need to look at is his process. You don’t want to end up in a stressful situation after signing a contract with draconian terms of service. To avoid such situations, you need first to research the business broker. Make sure he is good at what he does. Second, you need to take a look at his process. Does it look sound? When you come to So-Cal Business Brokers, here is what you can expect.
Signing of the listing agreement
This is a contact between you and our business broker. The agreement grants our business brokers Irvine the permission to start marketing and selling your business. The typical terms in this agreement include a 12 month term, Exclusive Right to Sell (seller can only use So-Cal Business Brokers for the term of the contract), and the agreed commission.
Collecting information on your business
We will collect quantitative and qualitative information on your business. We need this information to create a marketing package for your business’ listing. Most of this information is collected through an interview. The interview helps us collect such information as your business name, history of your business and its location. We will also collect vital documents such as copies of your lease and financials.
Develop an advertising and marketing campaign
While the assigned business broker in Orange County will be supporting the transaction, our in-house team will develop a teaser advert as well as an executive summary for your business. It is good to note that all identifying information will be kept between the broker and the seller. This is done to protect this delicate process.
Approval of the marketing materials
After developing the marketing package, we will share it with both the business broker and you for approval. Our broker will help review the materials for accuracy and convey your business in a manner that sheds positive light on it. Our broker will then send the materials to you for the final word. Upon approval we will list your business. Your business will be listed on our websites and on other trusted listing sites, social media campaigns and several other avenues that are fit for your type of business and industry.
We will plan for the initial phone calls with potential buyers. The purpose of the call is to determine if the buyer is suitable for the purchase.
If the buyer is suitable, we require them to sign an NDA. Thereafter we give the buyer access to the executive summary.
The first meeting is meant to answer questions a buyer might have and to determine the buyer’s financial abilities. The second meeting involves a tour of your business.
We will then give the initial offer and start the negotiations. So-Cal Business Brokers will help with due diligence, closing as well as transition and training.
Do you want to learn more about our process? Contact us now and schedule a free consultation. We are always happy to hear from you.