You’ve decided to begin the journey of Selling a Business or Property and you want the best possible price for your hard work. Below is a brief explanation on how we sell your business/property.
Phase 1 – Letter of Engagement and Process Planning
This is where our journey of selling your business or property starts. We begin by getting to know all the ins and out of your property or business. This helps us know where to begin our search for a suitable buyer. Once we have a detailed understanding of your plans, as well as the property or business for sale. It’s here where we begin to plan our process and present you with the letter of engagement for you to sign.
What is a letter of engagement ?
Phase 2 – Executive Summary and Company Profile
In order to give prospective buyers a anonymous look at your company. An Anonymous executive summary is prepared by us. At the same time a detailed company profile is also prepared containing the relevant information in regards to your company. The Executive Summary is used to present your Company or Property to prospective buyers. If they show further interest, the interested parties will be given a non disclosure agreement to sign. After which the Company Profile is presented to them.
Phase 3 – Finding a Buyer
Through our existing database, network as well as other available resources we work diligently to find buyers that could most benefit from acquiring your business. Once this list has been made. We begin contacting all prospective buyers. Usually buyers that could most benefit from acquiring your company/Property. During the talks with the prospective buyers we establish whether they have a genuine interest in your Property/Company. The financial capacities of the interested buyers are also checked. After this we remove all unwilling or unable prospective buyers from this list, thus creating a short list for us to work from. These remaining targets will then be invited to visit your company/property.
Phase 4 – The Process of Valuation and Negotiation
It’s always best to have a valuation done before the negotiation process. However this is not always the case . In these cases we will prepare a company valuation using various methods. However not having this already prepared can slow down the acquisition process. The prospective buyers will also have a Valuation done of your company/property. We will get to know the methods they use to do this(To be sure they accurate).
During the negotiation process. We will analyse the prospective buyers terms. As well as do our utmost to ensure the terms of the seller are met.
Phase 5 – Letter of Intent (LOI)
Once a buyer is ready to move forward with the deal, the LOI (letter of Intent)is brought forward to sign. The end is in sight but we not quite there yet. To have a better understanding about the legal documents involved please read Legal Documents Involved in the Sale Of A Business.
Phase 6 – Due Diligence
In this phase the due diligence is handled by the buyer or the buyer’s representatives. The due diligence is done on legal,financial and other areas of the company. We can offer our assistance and know how in this procedure to better ensure that the due diligence and acquisition runs smoothly.
To find out more about Due Diligence click here.
Phase 7 – The Final Contract
The final contract (Normally the responsibility of the Buyer) is drawn up by an external legal professional. C.R.E.P can manage this process to be sure that the seller gets fair treatment.
For Further Information on selling your company do not hesitate to contact us. We are more than happy to answer any of your question.