When it is time to exit you business, you may hire a broker or do it yourself. In either case, the steps are the same. It is just a matter of who performs them.
The Steps in Selling Your Business
- Gather the Required Documents
- Describe Your Business
- Decide the Asking Price
- Create Marketing Materials
- Advertise Your Business
- Qualify Prospective Buyers
- Prospective Buyers Agree to Confidentiality
- Provide Confidential Information to Qualified Prospective Buyers
- Meet With Prospective Buyers
- Get Purchase Agreement
- Buyer Completes Due Diligence
- Complete the Closing
- Post-Closing Training and Transition
