5 Steps to Selling your Business

Step 1- Business Planning (Days 0-90/ Months 0-3)

• Understand the owner’s personal, business and financial goals- Sale Readiness Assessment
• Collect data about the company- Company Information Questionnaire
• Prepare a detailed business valuation-GLM’s Business Valuation Report
• Develop and action plan to Prepare the Business for Sale- Succession Planning Approach

Step 2- Pre-Market Preparation (Days 90-180/ Months 3-6)

• Conduct in-depth industry research: Reference USA & 2018 Business Reference Guide
• Prepare Generic Executive Summary and Marketing materials about company

1. General Information Executive Summary (No Business Name or location)
2. Buyer Nondisclosure Agreement
3. Complete Executive Summary (Company name and Adjusted Financials)
4. 3 Way Confidentiality Agreement (To be signed before seeing complete financials)
5. Complete Company Description

• Develop marketing plan to sell company- Suggested Next Steps
• Identify prospective buyers- Reference USA Custom Lists

Step 3- Going to Market (Days 180-270/ Months 6-9)

• Market company on confidential basis
• Secure nondisclosure agreements from prospective buyers
• Schedule and conduct management presentations and site visits
• Secure Offer to Purchase- qualifying bids or indications of value from buyers

Step 4- Negotiation (Days 270+/ Months 9+)

• Analyze offers and terms to help client decide best option
• Manage key relationship with buyers
• Assist with negotiations of Letter of Intent
• Obtain final signed letter of intent
• Coordinate the due diligence process
• Assist with negotiations of purchase and sale agreement

Step 5- Closing (Days 270+/ Months 9+)

• Work with attorneys to draft the definitive purchase and sale agreement
• Help to resolve and open issues between parties
• Coordinate with seller and buyer on strategic planning issues
• Close the transaction