How to sell your business?
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This document provides advice on how to sell a business when retiring in 6 steps over 6-24 months: identify what makes the business competitive through its products, brand, employees, and customers; list potential buyers like suppliers, competitors, partners, and customers; draft an information memorandum and collect offers; sign a letter of intent and arrange due diligence that takes 4-6 weeks; negotiate the transaction documentation; and finally close the deal by signing paperwork and being happy in your retirement.
How to sell your business?
- 1. How to sell your business when you decide to retire? JOZEF HAL?DIK attorney-at-law
- 2. Did you just turn fifty? Prepare your business for sale otherwise it can end up stranded
- 3. Start with what makes your business competitive? PRODUCT BRAND EMPLOYEES CUSTOMERS
- 4. Then list who would pay the most for your business? SUPPLIERS COMPETITORS PARTNERS CUSTOMERS
- 5. The process of selling your business 6 – 24 months Draft and distribute information 4 – 6 weeks memorandum Sign the Sign transaction Collect offers Letter of Intent documentation Negotiate offers Arrange for Close the deal Due Dilligence Be happy Sign the letter of Intent Negotiate transaction documentation
- 6. Let the lawyers do the paperwork www.haladik.com
Editor's Notes
- http://www.istockphoto.com/stock-photo-4048359-sailing.php?st=c5aa960
- http://www.istockphoto.com/stock-photo-8385753-late-afternoon-at-sea.php?st=c63b9d7