First
Business Resources, Inc. recognizes
that the process of Selling
a Business is not familiar
to most business owners. Most
business owners sell a business
only once in their lifetime.
Although each business has
its unique set of circumstances
and each business owner has
specific reasons for considering
a potential sale of their business,
the questions business owners
ask First Business Resources,
Inc. about the process of selling
a business are very consistent.
Listed
below, are the top ten most
frequently asked questions.
We are pleased to answer
all
questions you may wish to
explore. Please do not hesitate
to telephone
or register at Contact
Us regarding your specific
needs as they relate to your
business disposition plans.
1.
When should I develop an
exit strategy?
The
sooner the better. The
ideal time to develop an
Exit Strategy for your
business is when you start
or purchase the business.
However, industry statistics
indicate that 85% of all
business owners do not
have a defined exit strategy
although, on average 75%
of their net worth is tied
up in their business.
2.
Is my company ready for
sale?
The
company’s financial
records and operations
must be evaluated and analyzed
to determine the strengths
and weaknesses of the company.
Proper planning will help
you address and "hopefully"
minimize any operational
or financial
weaknesses of the company
before launching the marketing
phase of the disposition
process.
3.
How long will it take to
sell my company?
The
industry average for selling
a business is 6-12 months.
The size of the transaction,
the pricing structure,
and specific marketing
strategy will directly
affect how long it will
take to sell your company.
4.
How do I maintain confidentiality
in the marketing process?
Confidentiality
in dealing with internal
personnel and external
sources is strongly encouraged
and is critical to achieve
a successful transaction.
For the Seller's protection,
First Business Resources,
Inc. requires a Buyer's
Confidentiality Agreement
to be signed by the potential
buyer before the release
of proprietary company
information.
5.
Does First Business Resources,
Inc. have buyers for my
company?
Yes,
First Business Resources,
Inc.’s extensive
buyer database includes
high net worth individuals,
corporations, and private
equity groups. First Business
Resources, Inc. will also
perform a customized marketing
plan to target qualified
buyers for your company.
6.
Who will be my contact
person at First Business
Resources, Inc.?
One
of First Business Resources,
Inc.’s principals
will serve as your primary
contact and will "guide"
you through the entire
disposition
process. Personalized 24/7
service is a trademark
of First Business Resources,
Inc.
7.
What is First Business
Resources, Inc.’s
fee structure?
The
fees and expenses of First
Business Resources, Inc.
are specific to the services
required for the engagement
and the size of the business.
We are available, at your
convenience, to speak with
you by phone or we offer
a complimentary in-person
consultation to determine
the level of service required
to accomplish your goals
and objectives.
8.
Exclusive representation?
It
has been our experience,
that to serve our clients
effectively, a team approach
is best. We recommend that
we are your exclusive Disposition
advisor. We will work in
concert with your attorney,
CPA, and other key advisors.
9.
Geographical representation
of First Business Resources,
Inc.?
First
Business Resources, Inc.
typically represents business
owners in the south central
United States; however,
we market and sell to regional,
national, and international
buyers. |
