As much as it is important to bring in a manufacturing business broker to sell your manufacturing business, it is always a great idea to understand the typical process of selling your business. At So-Cal Business Brokers we guarantee transparency in everything we do. We never leave you in the dark. If your business will take longer to sell we will let you know upfront. We are here not just to sell your manufacturing business fast and for the best price but also to ensure you have realistic expectations.
The process of selling a business varies depending on the business we are selling. It is only by sitting down with you to understand your business and objectives that our manufacturing business brokers are able to develop a tailored selling strategy. Here are the typical steps involved in the sale of a manufacturing business.
The first step is always to determine the actual value of your business. You cannot set a selling price or sell at a profit if you don’t know how much your business is really worth. Our business brokers deliver a highly accurate appraisal of your business based on a combination of textbook calculation and the sale of similar companies. The best thing is that we don’t charge you for business valuation.
When you give us the green light to sell your manufacturing business, we first require you to sign our listing agreement. This engages us formally to sell your business. We will then prepare a prospectus which is a document that describes your business to target buyers. We then release the prospectus to buyers and investors already in our database before using other conventional marketing channels.
Buyer inquiries and prescreening
Potential buyers will make inquiries to us through email and phone about your business. We will not bother you with these inquiries unless there are sensitive matters that need to be discussed. We handle the initial inquiries on your behalf and proceed to phone or face-to-face conversation with the prospective buyers. It is in this stage that our manufacturing business brokers also prescreen buyers to ensure they have the interest and financial means to purchase your business.
Letter of Intent
This is a document that contains the declaration of the intentions of a buyer regarding their offer and deal terms to purchase your business. We will get you multiple offers and negotiate the best terms. Our team will also help with the due diligence stage to ensure buyers don’t find anything that may cause them to drop out of the deal.
Our job at So-Cal Business Brokers is to be the reliable representative you can count on to sell your manufacturing business fast and for the best price. Contact us today to get more details on our process as we sell your manufacturing business.