MARKETING A BUSINESS
1. Develop a BUSINESS PROFILE:
- subsequent to a listing agreement, your agent will gather important information that would help a prospective buyer understand your business
- through informal interviews the seller will be asked for the following information:
- history
- hours of operations
- employee information
- detailed description of the business' products and/or services
- several years of financial statements and corporate tax returns
- asset lists
- premise leases
- marketing materials utilized by company
- customer information
- owner involvement in business
- competition
- technology and research
- strengths, weaknesses, opportunities and threats
- environmental issues
- photos of your business may be taken
- all this information is then compiled, along with a written summary of your business and financial analysis, in a BUSINESS PROFILE document
- depending on the confidentiality parameters agreed upon, this document, in many cases, will usually provide a buyer sufficient information to make an offer
2 .Define the likely buyer:
- in some cases, the buyer for your business has already been identified. It could include:
- previous interested parties
- customers, suppliers or competitors
- leads from industry journals and associations
- public companies that have an acquisition strategy
- financial (investment) buyers
- management and/or employees
- small corporations or individuals
- the approach to selling a business to specific buyers such as the above must consider a strategy that will maximize the return to the seller. Contracting a professional agent to accomplish this goal is as important as in the situation where a potential buyer is not identified.
3. Seek out the buyer
- a marketing strategy is proposed by ACE BUSINESS VENTURES INC. and approved by the seller
- the following initiatives may be considered by the agent:
- review list of qualified prospects and discreetly phone/contact the agent's network of professionals including accountants, lawyers, financial advisors, business consultants, appraisers and valuators, tax advisors, investors, financial planners, commercial realtors and other business brokers
- target likely candidates and companies with a phone call and send either general or confidential information based on the agent's professional judgment
- investigate all business related web sites for potential buyers
- depending on the confidentiality parameters established, register the business information on business related web sites including MLS (multiple listing service)
- if agreed to by seller, utilize other mass media and telecommunication methods.
- advertise in local, regional, national or international publications
- work with other business brokers who may have potential acquisition candidates
4. Generate offers
- one of the functions of an agent is to screen and qualify potential buyers and to apply the confidentiality parameters that have been agreed upon
- as the agent knows the sellers situation, he will work with the buyer to objectively structure an offer that meets the requirements of both parties
- the offers will be presented to the seller under the rules of COMMON LAW AGENCY and if necessary, a counter-offer can be developed with the agent's assistance
- once the letter of intent or the offer has been accepted, the job of ACE BUSINESS VENTURES INC. is not yet completed
- as deals can terminate at any stage of the negotiation, we will be closely involved until closing day to ensure that the transaction progresses to a final WIN-WIN outcome