Selling Your Business with Sunbelt
Client Responsibilities
Step 1: Agreements
- Sign the Engagement and Fee Agreement
- Provide payment of engagement fee
Step 2: Disclosure
- Complete the Seller’s Disclosure Statement
- Complete the Confidential Business Profile Questionnaire
Step 3: Most Probable Selling Price Preparation
Organize all financial and business valuation related documents for submission to Sunbelt for valuation processing and preparation of Most Probable Selling Price including:
- Furniture, fixtures and equipment list (with appropriate market value in place)
- Lease details / copy of lease
- Profit and loss statements (3 years minimum)
- Monthly revenue reports
- Staffing and organizational chart
- Franchise agreement summary
- List of competitors
- Upside potential summary
- List of sizzle points
- List of defects in business
Step 4: Review and Discussion of Most Probable Selling Price
- Review details of Most Probable Selling Price
- Agree on “Go to Market” pricing and ideal deal structure
- Review tax and structuring issues with Sunbelt and your tax lawyer or accountant
Step 5: Preparation of Marketing Materials
Review and approve the following documents
- Marketing Plan
- Confidential Business Profile
- Confidential Business Overview
- Blind Profile
- Advertising copy
- Web listing
Step 6: Go to Market!
- Sunbelt takes your business to market
Additional Considerations & Reminders
- Clean up your financials, books and records in preparation for sale
- Put your business in “show room” condition
- Prepare to meet with buyer prospects as required
- Update Sunbelt regularly regarding to any changes in business performance
- Review offers with Sunbelt
- Prepare counter offers with Sunbelt
- Participate in due diligence planning
- Provide due diligence materials
- Review closing documents with Sunbelt and your lawyer
- Review final tax issues with Sunbelt and your accountant
- Participate in closing inventory review
- Review closing adjustments with Sunbelt and your lawyer
- Close the deal
- Fulfil training and transition agreements
