“The Secret Of Getting Ahead Is Getting Started”
– Mark Twain
Getting Started
During the assessment stage, you will learn about the business sales process and get answers to any questions you have.
By the end of the assessment stage, you should feel confident in your decision to sell (or not sell) your business.
Upon completion you will have a firm understanding of:
- Your goals for the sale of your business
- How much your business is likely to sell for
- The expected timeline to sell your business
- The business sales process
The assessment stage consists of 4 milestones:
The first step is a 30-minute phone call between you and one of our expert advisors.
This introductory call is the first step in your goal of determining whether your business is sellable, and for how much you can expect to sell your business.
If it is initially determined that you are a good candidate for selling your business you will have the opportunity to meet in-person with one of our expert brokers.
During your initial consultation, you will work with your broker to review:
- Your desired goals and your ideal outcome for the sale of your business
- The unique factors of your business that buyers will perceive as an advantage or as a risk
- Your preparation requirements, and your general responsibilities as a seller working with a broker
Having answers to these questions empowers you to identify your ideal outcome and is the first step in building a roadmap towards the successful sale of your business.
By the end of the assessment stage, you will know:
- Who would want to buy your business
- How much can you sell your business for
- What are the required steps to selling your business
- How to prepare for the sale of your business
- If your business is sellable, and who is the right buyer
- Can you sell your business yourself or should you use a broker
- Is William Clark and Associates is the right broker to sell your business
By the end of the assessment stage, you will know:
- Who would want to buy your business
- How much can you sell your business for
- What are the required steps to selling your business
- How to prepare for the sale of your business
Introductory Phone Call
The first step of the assessment stage is a 30-minute phone call between you and one of our expert advisors.
For a more in-depth review of how to prepare for your initial consultation click here
During this free phone consultation, you will have the opportunity to review any questions you have about the sale of your business.
You will also have the opportunity to learn more about the business sales process and what you can expect should you decide to sell your business.
You will want to prepare a list of any questions you have before your call.
Initial Client Interview
The initial client interview takes place after your introductory phone call.
The initial consultation is your opportunity to meet with your M&A advisor and take the next step towards selling your business.
The initial consultation is approximately an hour long and can take place at our offices in Marina Del Rey, CA, or on-site at your office, place of business, or even at a coffee shop if you prefer.
During the initial consultation, you will receive advisement from one of our experts on the sale of your business. We will work with you to:
- Better understand your desired goals and your ideal outcome for the sale of your business
- Determine the unique factors of your business that buyers will perceive as an advantage or as a risk
- Provide you with a timeline and review of our proven process for selling your business
By the end of the consultation, you should have a better understanding of:
- If your business is sellable, and who is the right buyer
- Can you sell your business yourself or should you use a broker
- Is William Clark and Associates the right broker to sell your business
Review Books and Records
In order to provide you with an independent valuation of your business you will need to provide:
- Income statements/P&L for the previous three (3) years
- Year-to-date income statement
- Tax returns for the last three (3) years
- Current balance sheet
This information is the foundation for performing our Broker’s Opinion of Value for your business.
Broker’s Opinion of Value
Once you have had the opportunity to speak with one of our expert advisors, if it is determined that your business is sellable, the next step is to determine the price range for which you will be able to sell your business.
In addition to your books and records information, there are a number of other variables which are considered.
The valuation of your business takes into a number of factors including:
- Size of your business
- Industry
- Operating Cash Flow
- Micro and macro trends
- Business model
- Key performance indicators
- SBA lending practices
- Perceived strengths and weaknesses
There are a number of valuation methods and it is important to apply the correct valuation to your business. One of the leading reasons for failed business listings is the mispricing of your business.
Exit Planning
After working with one of our expert advisors, you should know have a clear understanding of your objectives for the sale of your business. In addition, you will now have received a business valuation providing you with an objective brokers’ opinion of value. Now that you have this information, it is time to consider all of the information at hand and determine if the expected timeline and sales price are in-line with your personal and professional objectives.
Financial Planning
During pre-transaction planning, you will work with your transaction advisor as well as your accountant and chosen financial planner in order to determine:
- What are your individual and family objectives in a sale?
- If retirement is your goal, what are the net proceeds you need from the sale to retire comfortably?
- What are the financial implications of alternative ventures (opportunity cost)?
With that information in hand, we will work with your financial stakeholders determine the correct transaction structuring for your sale:
- How do you maximize net proceeds?
- What are the tax and estate planning strategies available?
And finally, should you need a referral, we work with a number of accredited financial advisors who can assist you with post-transaction planning including:
- Update your investment road map
- Manage your wealth
