STEPS IN SELLING A BUSINESS

Step 1:  Plan and Prepare

• Organize financial records

• Clean/repair equipment

• Normalize inventory

• Evaluate your financial needs post-closing

Step 2:  Retain Sunbelt

• Meet and discuss objectives

• Discuss market and buyer expectations

• Execute Sunbelt representation agreements

Step 3:  Complete Valuation

• Understand valuation techniques

• Engage third-party valuation firm

• Determine asking price

Step 4:  Business Profile

• Detail historical performance

• Identity growth opportunities

Step 5:  Market the Business

• Develop marketing strategy

• Maintain confidentiality

• Manage your business while Sunbelt markets it

Step 6:  Identify Buyers

• Interview prospective buyers

• Obtain non-disclosure documents

• Arrange on-site visits

Step 7:  Term Sheet

• Obtain offers from buyers

• Identify acceptable offer

• Facilitate negotiations

• Prepare for due diligence

Step 8:  Due Diligence

• Respond to information requests

• Amend term sheet, if necessary

• Help buyer identify financing sources

Step 9:  Open Escrow

• Draft closing documents

• Review completed documents

• Resolve remaining contingencies and third-party financing

Step 10:  Closing

• Plan announcement to employees and other stakeholders

• Sign documents, transfer funds and pay broker

• Transition management to buyer