Selling Process

Some sales close quickly while others take longer. By industry standards the time-frame can be five months or longer. That has several ramifications for you, the seller. First, it means that you must be emotionally ready for a months-long process. And it also means that you must continue to operate your business as if you weren’t planning to sell it. Prospective buyers will take note of your ongoing strong volume; that will bring better terms for you.

PCBB will guide you through all the major steps in the process, which typically include:

  • Preparation for the sale — (Pre Due Diligence) In this phase, you’ll make sure all books and records for the past three years are complete, and that a copy of the existing lease is available. Professionally prepared financial records are recommended to attract buyers willing to pay a premium for your business. If this sounds daunting, don’t worry. Our comprehensive Listing Information Package makes this task easy.
  • Valuation & Pricing — We provide a comprehensive Informal Brokers Opinion of Value to analyze your business, and we will determine a realistic price and terms. For larger businesses, we usually recommend a third-party valuation.
  • Re-casting financials — Your financial records may be accurate and yet not reflect the true value of your business to a purchaser. We’ll help you re-cast those documents so that they remain accurate but more representative of the worth of your enterprise.
  • Structuring the sale — Should you demand all cash from the buyer? Finance a portion of the purchase yourself? Pre-qualify the business for a SBA loan? We’ll review all the options — and their tax consequences — and structure the sale to provide the best value for you.
  • Advertising & Marketing — We advertise your business —with the strictest confidentiality —to get the broadest possible exposure and the greatest number of qualified prospects through our extensive sources.
  • Buyer Qualification — Roughly 90 percent of those who respond to business-for-sale ads are either not serious buyers or not financially qualified. We’ll screen prospects to limit the exposure of your business to the most promising buyers; you won’t waste your valuable time with those who are merely curious.
  • Negotiations — Among our key strengths is our experience and expertise in negotiating purchase agreements. We’ll keep the deal moving by maintaining constant communications with all parties.
  • Closing Checklist — Drafting a Purchase Offer, coordinating due diligence, assisting buyers with financing and lease arrangements, escrow — all are part of the Closing Checklist we’ll develop and work through with you to facilitate a swift, seamless closing.
  • Closing — PCBB will coordinate all the steps, including final walkthrough, inventory, amendments and all necessary paperwork to assure a smooth transition.