After Building Your Team as part of the how to sell your business process, the process begins to get real with the collection of information by your broker. The information collection step while not everyone’s favorite, provides your broker with all of the necessary information to understand your business, and get it listed for sale!
Once the marketing agreement has been signed, your business broker will begin to collect information through a seller interview in order to develop your pitch book, marketing plan, and the market price opinion for your business. Specific information requested by your broker will include financial documents like the past three years of your profit and loss statements as well as tax documentation. Additional information requested can include your lease or a property title, and customer or vendor contracts.
All of this information will be put to work for you, along with the broker’s industry knowledge to create a listing for your business, and answer the question, "How much is my business worth?" The asking price will be based on a number of factors such as past closing data and the current state of the market. The end goal is for your broker to develop a fair market price, one that is attractive to buyers, while also providing a good return to you, the seller.
All information the broker develops to market your business will be approved by you prior to posting your listing. This ensures that you are informed and comfortable with the sale process from start to finish. For more information on our business sale process or to meet with a knowledgeable broker, please visit our website or schedule a free consultation today!
Rachael Holstein joined the Transworld Team in 2016 as Marketing Coordinator. Her working experience has been largely focused on Business Development and Marketing in the finance, architecture, property management, and information technology industries. A long time resident of Cleveland, Ohio, she attained her Undergrad from John Carroll University and a Master’s Degree in Global Interactions from Cleveland State University. She relocated to Denver in 2013 for a change of scenery and a bit of adventure.