Information For Sellers

Thank you for visiting our section for current business owners, designed to help potential sellers navigate the seemingly complex process of selling a business.  The Waterfront Group provides the following summary information as a guide to helping you prepare for the sale.  The processes, recommendations and articles shown here are by no means exhaustive.  Please feel free to contact us if you have any questions about this information or if you would like to request a consultation.

Reasons to Sell Through a Professional Intermediary 

1. Maintain strictest confidentiality

• no buyer (employee, customer) need ever know the owner/company identity until necessary
    
• process of progressively revealing company information (eg, financials are blind, no company names or locations revealed unless necessary to further the process along)

2. Create buyer competition = highest price/best offer

3. Allow owner to continue to run business with minimal distraction

4. Insulate seller from appearance of being unreasonable or inflexible to work with during negotiations
        

Outline of Intermediary Roles and Key Process Milestones 

 (1-3 Weeks)

• Client Needs Assessment/discuss desired outcomes, explain process for client
    
• Review Financials to develop range of probable valuations and review with client
    
• Establish timelines, collect preliminary due diligence (DD) documentation
    
• Interview client 

 (Additional 2-3 Months)

• Packaging and Marketing the Business
   
• Buyer Communications and Screening
   
• Offer Development and Negotiation

 (Additional 2-3 Months)

• Due Diligence
    
• Financing Approval 
   
• Final Documents Preparation
    
• Escrow Closure