The Sales Process

Each of the steps in the sale of a business involves a series of tasks that must be accomplished with discretion and timing.

The first step is a preliminary consultation. We interview each other to see if there is a basis for building a professional relationship. BIC will fill you in on what to expect as well as go over our proven confidentiality procedures.

This is the crucial stage where we review financial history and recast financial statements to show the estimated Fair Market Value of assets and real earnings. Skillful, accurate recasting is the foundation of everything that will follow in the sales process. At this point we will also prepare a written opinion for your review, including the price you might expect to receive for your business and an explanation of the valuation process.

A complete sales structure outlines the methods you can use to turn your business into cash. It includes a description of the tax consequences of various sales methods and outlines the roles played by the intermediary, accountants, and attorneys.

We develop a global prospect list of individuals, corporations, and investment groups from in-house and external sources. Then we determine the best use of media to discreetly publicize the availability of your business, always maintaining complete confidentiality. BIC will make recommendations about the "packaging" of your business, identifying value-added possibilities on which you can capitalize.

Once the process is under way, we will pre-qualify buyers and obtain the necessary resumés, non-disclosure agreements, and personal financial data from interested parties. BIC will interview and screen the most qualified prospects.

We will make arrangements for the prospective buyer to visit your business at your convenience, usually after hours or at some other time to maintain complete confidentiality and discretion. This allows the buyer to gain a first-hand insight into the day-to-day operation of the business. While there are no actual negotiations at the first meeting between the principals, there is a great deal of information exchanged and important impressions are made.

This is where BIC is truly at its best. We've been through this process hundreds of times and can advise you on how to handle offers, counter-offers, due diligence, preparation for closing, and other problems. As the process moves toward closing we obtain a Letter of Intent that triggers Due Diligence and ultimately leads to a Purchase and Sale Agreement.

The sales process is completed, including the signing of all contracts and exchange of monies as stipulated in the Terms of Sale Agreement.

If you're thinking about selling your Central Florida business contact Howard J. Robinson, President of BIC, to schedule an initial meeting. Call (407) 647-8580 or fill in this confidential response form. There is no charge or obligation for this consultation.

BIC logo Business Investments Corporation
1850 Lee Road, Suite 211
Winter Park, Florida 32789
407/647-8580 Fax: 407/647-0114