What to Expect on the First Date with a Prospective Business Buyer
When you are ready to sell my business La Mirada you have to be prepared for so many stages. From getting the business ready for sale to listing to prescreening buyers and so much more. The work can be overwhelming especially when you consider you still have to run your business as efficiently as possible. This is where the need to work with a business broker in Los Angeles comes in. Our team at So-Cal Business Brokers has been selling businesses for more than 20 years. We know what buyers think, stages that are involved and how to get the best results. If you are at the stage of meeting with a buyer for the first time, here is what you should expect.
Q&A
A good potential buyer will have a lot of questions to ask you. You must therefore be prepared to do a lot of answering. Prior to meeting with a buyer, they will have gone through the offering memorandum and reviewed your financials. The main questions you will have to answer as you sell my business La Mirada are those that help clarify your operation and financials.
Questions will be on topics like:
- Customer concentration,
- Length of customer relationships,
- Current capacity,
- Industry served,
- Seller’s roles on a daily basis,
- Sales structure,
- Supply chain
The good news is that at So-Cal Business Brokers we have dealt with all manner of business buyers. We will be able to help you understand the key questions that will be asked and help give the best answers. Our team will also help gather all the documents that will help back your claims. Contact us now to find out more.
Tour of your offices
It is important to note that a prospective buyer will want to tour your business. This takes place after the initial Q&A. The objective is for him or her to determine if your business is as painted. Prior to this stage, our business brokers in Los Angeles will have performed a thorough background check to guarantee you are only dealing with serious buyers that have the interest and means to acquire your business. we never let a potential buyer through to you until we are completely certain they are the best fit for you.
Post meeting conversation
After the initial meeting, the seller debriefs with the business broker and the broker will give you feedback regarding the buyer.
Unlike first dates, first meetings with buyers as you sell my business La Mirada get easier and develop a flow. Our job at So-Cal Business Brokers is to ensure that everything runs as smoothly as possible. Give us a call to find out more about our services. We offer a free consultation.