How to sell your business fast?
Our average sales process takes time. We make sure all the to dot the I’s and cross the T’s. Devising a good strategy to sell a company needs time to be well thought out. Ideally when selling a company the preparation to sell starts years in advance. On this page we will discuss selling your business fast.
Why do you want to sell fast means knowing the approach?
Knowing the reason why you want to sell your business fast will help us do our job better. There can be many reasons why you would like to sell fast. For Example, new regulations have changed your business environment, the results are deteriorating or perhaps for other personal reasons.
For us to proceed quickly we will need your support in getting the required documentation to have ready to present to possible buyers. The sales will be similar to that of a normal business sale.
We just do it faster and leave out a few steps.
Instead of going from a long list of possible buyers we start by focusing on those buyers who we feel are the most lightly to be interested in acquiring your business.
This is done by searching through our database, contacting people through our network and a large scale internet search.
We often focus on asset sales as it’s less risky for the buyer and less time on due diligence is required. Thus speeding up the sales process.
However before we take the approach of an asset sale we will be sure that there are no other alternatives. Also before we start the sales process we will brainstorm other alternatives to selling your business. Perhaps your company is simply in a bad state due to other reasons that can be solved besides a sale. Through our network we have access to turnaround managers that are experienced in getting companies back on track. Perhaps this alternative would suit your situation better than a sale.
A merger is also another alternative. Through some creative thinking we might be able to find a company willing to merch with yours thus making the whole group stronger. This can also help achieve a higher sales price. As well as increase the value of your shares.
Requirements when selling your business fast
There are a several requirements when selling your business fast (listed Below). The major requirement is that you work with us and give us the necessary support so we can manage the project effectively.
Requirement 1. Be a Team Player
It would be in your best interest to work with us as a team. This can be done as previously stated:
Getting us the required information to present to possible buyers and giving your input when looking for possible candidates to buy your business. As well as giving your input into other aspects of your industry that could better help us achieve a sale. This information needs to get to us as quickly as possible. It is important to work together in order to sell your company for the best possible price as well as under good conditions.
We do our utmost to achieve the best possible sale price but you should be prepared to receive lower than market value for your company.
Be as fast as possible to provide us with further information any possible buyer might need. Let us know about any possible buyers you can think of. As well be productive in the search for buyers.
Requirement 2 Engagement Letter/ Mandate Letter
Once we have discussed and agreed on some terms we will ask you to sign a mandate letter. This will give you a better idea of how we work. The document will also contain items such as our commission as well as other important items pertaining to our agreement. Once the document is signed we can begin to focus on the sale of your company.
Requirement 3 Retainer
To sell a business quickly we will need to prepare detailed documentation, invite buyers, set up meetings as well as negotiate and close the deal. All of this will cost time and money. In order to sell your business quickly with the full force of our team you must be prepared to pay a retainer.
Requirement 4. Ready and Available Data
Ideally you would have all the relevant data ready for us to present to possible buyers. However if this is not the case, we will ask you to do your best in assisting us by getting all required data. Relevant information such as Legal, sales info and customer concentration will be required. A detailed list of the required information will be provided to you so you can move as quickly as possible in the preparation.
Requirement 5. Lower Than Market Price
We always do our utmost to get you the best terms and price possible. However keep in mind that you want to sell fast. This means the buyer might have to cut corners thus increasing the perception of risk to the investment. It would be advised to Contact us and discuss some realistic expectations for the sale price. It would also help us to know the rock bottom price you would be willing to accept. Keep in mind for the buyer the potential rewards need to outweigh the potential risks. Therefore selling a business at a discount will attract more buyers and and increase the chances of selling your business fast.
Requirement 6. Finding a Buyer
If you know of any companies that might be interested in acquiring your business let us know. This will help tremendously as we will need to focus on the most viable candidates first. It will also give us the opportunity to approach these possible buyers while keeping you and your business anonymouse.
If you feel that you need to sell your company fast do not hesitate to contact us. We have a full spectrum of qualified individuals on our team that can give you sound advice pertaining to your situation.