Florida Business Advisors  
Business Sales, Appraisals, Strategic Consulting

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10 March 2010

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Selling a Business   Print  E-mail 

Whatever your reasons may be, selling your business is one of the most important decisions you can make.  You want the process to proceed smoothly for you, your employees and your customers. Most importantly, you want to maximize your return on the investment you have have so carefully made.  Florida Business Advisors brings a confidential, focused and targeted marketing plan together to reach the most qualified buyers in the marketplace.  Our business intermediaries analyze your business and prepare it to sell for optimum price and terms, in a reasonable amount of time.  FBA employs the most effective negotiators in business who utlize our state-of-the-art business programs to deliver the results you are looking for.  



  •  Terms You Should Understand
    To begin, click on Terms 
    for business sales terms you should familiarize yourself with.

  •  Seven Critical Factors
    In every business sale, there are Seven Critical Factors in order to be successful:

    1. Justifiable Pricing
    2. Target Marketing
    3. Extreme Confidentiality
    4. Qualified, Motivated Buyers
    5. Win-Win Negotiations
    6. Organized Due Diligence
    7. No Impact Closing. 

    Selling a business is a process, not an event and takes preparation, time and diligence.  By reading the steps below you will gain important insights into the process of selling your business.

  •  Initial Consultation
    We begin the process with an informal consultation to explain what is involved in selling your business.  In a simple and straightforward manner we will explain the steps to a successful outcome.  Call or email us to schedule your consultation.

  •  Business Questionnaire
    Once we have decided on the services you need, we email you our Business Questionnaire.  This simple form helps determine the general value of your business and how long it will take to sell.  At this stage we place a price range on your business and review the terms of the sale.  Click on Forms to review the Seller Business Questionnaire.

  •  In-Person Meeting
    Next, we meet with you to review the listing agreements and develop a company-focused Strategic Marketing Plan.  This targeted action plan includes marketing activities and timelines, and gives you a comprehensive overview of the selling process-- a special service only for clients of Florida Business Advisors.

  •  Keeping You Updated
    To keep you informed we provide bi-weekly Activity Emails showing contacts, marketing activities and other critical tasks.

  •  We Protect Your Confidentiality
    One of the most sensitive aspects of selling a business is seller confidentiality.  Preserving your relationship with your customers, vendors and employees is more critical than ever.  The last thing you want is to loose market share or value by exposing your sale to your competitors and the public.  That’s why Florida Business Advisors uses only blind listings, without mention of your company name or location. Combine this with our thorough screening of potential buyers and you have the highest degree of confidentiality available.  Click on Forms to see our Buyer Qualification forms.

  •  Pricing Your Business
    As a professional service to each of our Sellers we offer a Business Appraisal I (BAI), our basic market appraisal of your business.  This helps determine the fair market value in the current marketplace.  For businesses requiring more complete appraisals we offer several other reports to meet your needs.  We price businesses to sell for optimum value.  This means selecting a realistic price range based on market value while at the same time, assessing the unique aspects of your business that may add additional value to the equation. Once your business is properly marketed, the buyer marketplace will ultimately determine the worth of your business.  However if you overprice, the business will not receive the positive exposure it needs to expedite a sale.  Accurate pricing adds important momentum to the sale process to help you sell in an acceptable amount of time and with the best terms. Having a professional business appraisal in hand when it comes time to negotiate establishes a value that is fair and justifiable.  Should a buyer decide to hire an independent appraiser during negotiations, the results will often closely correlate to our appraisals due to the profesional rigor and consistency of our work.  Click on Appraisals for information on business  appraisals.

  •  Qualified Buyers
    When we market your business we make all effort to present only qualified Buyers to you.  Our Buyers complete a Buyer Profile, Standard Confidentiality/Disclosure Agreement and Financial Statement.  We get to know our Buyers up-front to assess their business experience, background, motivation, timetable and financial strength. We don’t want to waste your time, or ours.  To view our Confidentiality and other Agreements, click on Forms.

  •  Professional Networks
    A percentage of buyers come through our professional networks including the BBF, BizBuySell, Business Broker Net, MergerPlace and others.  At the same time, many of our buyers come directly through our Internet, direct marketing and advertising efforsts.  This creates the largest possible universe of potential buyers for your business, but allows us the opportunity to be selective.  At your discretion we can also list your business as an exclusive listing, accepting buyers coming only through our firm.  The choice is yours.

  •  E-Marketing Your Business
    The beginnings of most successful transactions today are initiated on the Web.  Astute buyers, intermediaries, investment bankers and acquisitions organizations regularly use the Web to identify business and acquisition opportunities.  FBA has the most effective and powerful Web marketing program available.  We use Overture, Google and other paid placement services and spend heavily on placing our site at or near the top on more than 250 seach terms.  Your business appears with a blind company listing on BBF, BizBuySell, Business Broker Net, INC. Magazine's Inc.com, the Wall Street Journal’s Startup Journal.com, Loopnet, MergerPlace and Florida Business Advisors highly ranked web site, Buy-Sell-Biz.com that is featured on Yahoo, MSN, AltaVista, Infospace, Go2Net, Excite, Juno, Netzero, ESPN, Edmunds, CNN, Knight Ridder and more.  Plus we identify and catalog specialized sites that target the myriad of individual, corporate and institutional buyers that may be interested in purchasing your business.  This gives you the broadest possible exposure while controlling access to private information.  By doing this we bring the most qualified local buyers as well as buyers outside the area creating an environment of high desirability for your business.  Doing this also reduces the local exposure and helps to minimize confidentiality concerns.  No information is given to anyone on your business without a signed Confidentiality and Non-Compete Disclosure, a review of their background, and review of their financial qualifications.  This assures you of confidentiality and privacy throughout the sales process and avoids wasting time with unqualified and unmotivated Buyers.

  •  3,000 Florida Businesses For Sale
    Click here to find more than $1 billion in inventory for sale in the BBF database. Search Businesses For Sale
    to search by County, Business Category, SIC Code, Selling Price, Down Payment, Net Income, Gross Sales and Keyword.

  •  Conventional Marketing Programs
    Conventional marketing tools are still as useful today as they have always been.  The problem is that "business brokers" do not use these tools, partially because they want to keep costs to a minimum.  Consequently, your business sits on listing sites until a buyer happens to find it.  While listing sites are valuable, they do not fulfill the total marketing needs.  As intermediaries, we believe there are other solutions that must be employed in order for your business to sell in a reasonable amount of time to a qualified buyer.  Buyers for your business must be actively sought out, qualified and communicated with in order to find the best buyer for your business.  This is an expensive, arduous process that requires time, effort and creativity.  Based on the marketing agreement we have with each client, we utilize telephone canvassing, direct mail, direct e-mail, network marketing, web marketing, institutional marketing, trade shows and local and trade advertising to complement our e-marketing efforts.  This assures you of maximum exposure and maximum opportunity to reach buyers who are in the market to buy now.

  •  Fast Facts and Confidential Offering Memorandum
    The way your business is presented to prospective buyers is extremely important.  First impressions tell a story about your business—it’s quality, financial stability and future opportunities for growth.  Most main street "business broker packages” are loosely assembled financials, tax returns and other hastily gathered information.  Would you be seriously interested in a business without having any significant background information about the business?  Florida Business Advisors intermediary marketing strategy is different.  Based on your needs, our Sellers receive a professionally designed Fast Facts or Confidential Offering Memorandum in print and in e-package format.  Our Fast Facts is a top line summary tool covering major business data and is designed to gauge initial interest in your business.  It includes price, terms, revenue, owner benefit, photos and a brief overview of the business.  The Confidential Offering Memorandum is an executive level presentation tool covering every major aspect of your business.  We include tables on financial history and year-to-date performance, deal information, business activity and history, marketing strategy, operations, employees, assets, facilities, a photo library and other important decision-making data.  Both of these tools present your business as a quality enterprise worthy of serious consideration.
      The Fast Facts and Confidential Offering Memorandum are only given to qualified prospects who have signed the Confidentiality Agreement.

  •  Showing Your Business
    Once we have qualified the Buyer, we meet with you at the business location at a time convenient for you.  We respect the confidentiality of the sale and do everything possible to maintain a low profile.  You have the opportunity to discuss the unique strengths of your business and the growth potential with the prospect and determine their fit for your business. 

  •  Special Services
    For special situations such as asset sales, we offer machinery and equipment appraisals and programs to sell the assets only of the business.  
     
  •  Negotiating the Deal
    Once the buyer shows a serious interest in negotiating a deal, we work with the buyer to negotiate terms acceptable to both sides.  Dealmaking takes enormous skill, understanding and creativity to forge a win-win situation for both Seller and Buyer.  Our combined negotiation experience of more than 100 years affords our sellers with skilled representation to negotiate the optimum price and terms.  We keep negotiations on-track and forward-moving to create solutions that work for all involved.  Our role as mediator is one of the primary functions we serve.   

  •  Financing the Purchase
    Our Buyers are always pre-qualified by doing a Basic Financial Profile and verifying financial ability to purchase.  We don't waste your time with Prospects that are not in a position to make a decision.  Our network of more than 30 lenders and venture capitalists are available for our Buyers to help get deals done.  At the same time Seller financing often comprises a part of the deal, even with SBA loans.  We can quickly determine what part Seller financing and traditional financing play in getting your deal to closing.

  •  Who Handles the Contract For Sale and Purchase?
    We provide standard BBF contracts to fill in and get the deal signed and started.  Once that is complete, you may choose to use an attorney of your choice to review the deal and make adjustments you feel are necessary.  Or, you may choose to use your own legal counsel to draft the contract and make adjustments.  Whatever you are comfortable with, we do.  And we recommend that your legal counsel and accountant or CPA take an active role in helping to sell the business.

  •  Due Diligence
    As part of every deal there is a due diligence period where the Buyer has the opportunity to review financial and other records within a contractual time frame.  This gives them the opportunity to verify the profitability of the business and review other critical matters. We encourage Sellers to prepare their books and records in advance and have their accountant or CPA assist to provide accurate and timely financial statements.  This makes the entire deal progress smoothly and quickly.  FBA also offers due diligence reviews that can help you prepare for this vital aspect of quality assurance that the buyer expects to be both accurate and organized.

  •  Preparing to Close
    As we move nearer to closing, there are licensing, insurance and lease issues to clear.  In addition to occupational licenses there may be special licenses or certifications necessary to operate a business.  We assist with paperwork, licensing boards and educational requirements that may be necessary.  Insurances that the buyer must obtain are also required, including business insurance and other types of coverage.  Leases may be assigned or new leases negotiated with the landlord prior to closing.  Typically, the Buyer must personally guarantee performance of a new lease and a separate credit check is usually required.  These final details often take several weeks to complete.

  •  Closing the Deal
    An attorney will usually close the transaction and act as closing agent.  In certain instances where a loan is necessary, the attorney make work directly with the lender.  When Seller financing is involved, an attorney will draw up the note, security agreement and closing documents.  Check with your counsel for advice on closing the transaction, tax implications, allocation of assets, non-compete agreements and other important personal considerations.

  •  The Perfect Buyer
    Every Seller wants the perfect Buyer.  Whether it's a person or company all of us would like an all cash deal, a full price offer, the least inconvenience and cost, a fast closing and parties that are great to deal with.  Sometimes that even happens!  But the reality is, it often doesn't.  Buyers have many questions and need answers to why you are selling, how accurate are your books and records, what is the future of the business, will the employees stay and other issues and questions.  Typically larger businesses and corporations are less affected by financial questions based on their professional operations, but even these businesses go through a due diligence and often, multiple suitors.  Your business is unique, and Florida Business Advisors views it that way.  We expend professional time and effort to understand your enterprise and make it as saleable as possible, helping you to show it well, have presentable financials, justify price and terms and keep all the parties communicating.  Most important of all, we strive to identify financially and professionally qualified Buyers that have a serious interest in your business, and then market your business aggressively to these buyers.  Doing all of this offers assurance that your sale will be as smooth and successful as possible.

  •  Our Turnkey Approach
    Florida Business Advisors offers you a turnkey approach to selling your business.  From the initial meeting to closing a successful deal we offer you expertise, guidance and advice.  We are available when you need us, and provide weekly feedback so you always know the status of your transaction.  From start to finish, Florida Business Advisors gives you the professional support and guidance you need for a successful and satisfying business sale transaction.





 

Newsflash

Florida Business Advisors has more than 100 years of combined business expertise and $300,000,000 in sales transactions from its business consultants.  We specialize in the sale of profitable businesses from numerous sectors including financial, service, manufacturing, contracting, distribution, technology, medical, retail and professional.  We have helped business owners and corporations from $300,000 in annual revenue to $1 billion in achieving their goals. 


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 Contacts
   11345 53rd Street North
   Clearwater FL 33760
   Office: 727-712-1222
   Fax: 727-581-9569
   Email: info@floridabusinessadvisors.com




Memberships:

» The Institute of
Business Appraisers


» National Equipment
Brokers Institute


» Society of
Business Analysts


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