Selling a business is a significant milestone, filled with excitement and challenges. With the right plan, you can navigate this complex process smoothly and successfully. While each company is unique, having a professional advisor can provide invaluable guidance, ensuring you achieve the desired outcome.
Surprisingly, only about 20% of businesses listed for sale find a new owner, according to the Exit Planning Institute (EPI). This low success rate often stems from poor preparation, unrealistic expectations, and a limited pool of interested buyers.
While you could sell your business alone, partnering with a professional, such as a business broker or M&A advisor, can dramatically increase your chances of success. At Magnus Business Group, we excel in valuing and marketing businesses, identifying potential buyers, negotiating deals, and managing the intricate legal and financial aspects.
Whether you sell independently or with professional assistance, explore all your options and consult trusted advisors. Our proven process includes seven essential steps, and we strongly recommend starting your exit strategy early. This approach allows enough time to prepare your business for sale and address any potential challenges affect its value.
MBG – 7 Step Process
- 1. Business Valuation
Understanding the value of your business is crucial for setting a realistic asking price and negotiating with potential buyers. Our business valuation service provides a clear market value assessment.
(Visit our Valuation page) - 2. Strategy and Marketing Package (CIM/CBR)
A comprehensive business package, including a Confidential Business Review (CBR) or Confidential Information Memorandum (CIM), showcases your business in the best possible light to potential buyers. This package also outlines effective strategies for approaching and attracting buyers. - 3. Targeted Marketing
Our targeted marketing program ensures that your business reaches the right audience, increasing the likelihood of a successful sale.
- 4. Genuine Buyers and Introductory Meeting
We pre-qualify buyers to ensure that only serious and genuine prospects are considered. We also organize introductory meetings where buyers and sellers can evaluate the potential fit. - 5. Negotiating Process
Magnus Business Group will negotiate price, terms, and conditions to align with your objectives, allowing you to focus on running your business. - 6. Due Diligence
Potential buyers will conduct due diligence to evaluate your business. We will help you prepare by providing detailed information about operations, financials, and other critical aspects. - 7. Closing and Transfer
Closing and transferring a business involves numerous legal, financial, and practical considerations. Magnus Business Group will guide you through this crucial process to ensure a seamless transition.
Magnus Business Group will manage the entire process in a timely manner. Get in touch with us today and explore your options! Call 805-259-4795.