Seeking a Potential Buyer for Your Business
Company owners often receive numerous calls from brokers concerning the potential sale of their company. When an owner decides to get serious about the sale of their company, they should not wait for another call from a broker, they should reach out to professionals within their industry and become pro-active in seeking a qualified suitor.
The owner should seek an outside professional who has the experience and background in selling a business enterprise, especially someone who knows the owner’s industry. A professional will help advise the owner in areas such as valuation, industry multiples and will develop a profile of the prospective buyer the owner is seeking.
Once these questions have been addressed, the professional will be able to develop an Outreach Program which will identify potential buyers that fit the owner’s profile. A non-confidential “Teaser” will be prepared for distribution to prospective buyers in the industry, as well as private equity and potential referral sources. A “pitchbook” will also be prepared that contains detailed financial, customer, strategic and other information designed to provide a comprehensive overview of the company.
The professional will act as the confidential intermediary between the owner and the prospective buyer and help determine that the buyer fits the owner’s profile. The outside professional will have experience in dealing with issues that arise during negotiations and be in a position to give comprehensive advice when needed. The outside professional is an important sounding board who becomes an integral part of the process, representing your best interests.
If you are serious about selling your business, you need someone on your side that has industry experience in selling a company. Do not do this on your own.
If you want to chat, give me a call at 201-523-6326 or e-mail me at email@example.com.