Sell A Business In Tampa

How do I sell a business?

1. Prepare to sell: Once you have decided to sell, you need to begin getting ready to present your business to prospective buyers.

• Organize financial records: Three years tax returns and financial statements will be needed to demonstrate the financial history of the business
• Clean up & repair equipment: The first impression is very important to a buyer. Your business should appear well organized and clean with all equipment in operating condition
• Normalize inventory: Salable inventory will be included in the sale. Remove any stale or obsolete inventory
• Evaluate you financial needs after the sale.

2. Retain Sunbelt of Tampa Bay to market and sell your business:

• Schedule a meeting with a Sunbelt broker to discuss objectives
• Discuss valuation, salability, marketing and buyer expectations
• Execute Sunbelt representation agreement

3. Complete valuation:

• Understand valuation techniques: Your Sunbelt of Tampa Bay broker will provide an opinion of value with no cost or obligation to you
• Engage third-party appraisal firm: A third-party independent appraisal is highly recommended but not required
• Determine asking price

4. Create business profile:

• Detailed historical performance: How did your business get from start-up to where it is today?
• Identify growth opportunities

5. Market the business:

• Develop a marketing strategy utilizing proven Sunbelt marketing techniques
• Maintain confidentiality
• Manage your business during the marketing period

6. Identify buyers:

• Pre-qualify prospective buyers. All buyer candidates screened to insure they have the financial capability and background needed to buy your business
• Obtain confidentiality agreement from prospective buyer
• Arrange on-site meeting with buyer at the seller's convenience in order to maintain confidentiality

7. Present offers:

• Obtain offers from prospective buyers
• Evaluate offer to accept or counter-offer
• Facilitate negotiations of terms &conditions of offer
• Prepare for due diligence

8. Due diligence:

• Respond to request for information from buyer
• Review offer with attorney and amend if necessary
• Assist buyer with information needed for financing

9. Closing attorney/escrow:

• Prepare closing documents for review by both parties
• Review completed closing documents
• Resolve any remaining contingencies

10.Closing:

• Plan announcement to employees
• Sign closing documents and transfer funds
• Transition management to buyer