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Selling Your Business: A Step-by-Step Guide

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Selling your business is a significant decision, and understanding the process can help ensure a smooth and successful transaction. Below, we outline the key steps involved:

01

Initial Information Sharing

Provide basic details about your business, such as a brief description, gross revenue, and profit margins. This helps potential buyers quickly understand the fundamentals and gauge their interest.

03

Understanding the Seller's Vision & Goals

We take the time to understand your reasons for selling, what’s important to you in a buyer, and your desired level of involvement post-sale. 

05

Due Diligence

The buyer conducts a thorough review of your business’s operations and finances to confirm the information provided. Collaboration between buyer and seller is often required to address questions or provide clarification.

07

Final Due Diligence & Negotiation

The buyer completes any remaining due diligence, and both parties finalize the terms of the sale. This step ensures all outstanding details are addressed before drafting the agreement.

09

Closing & Funding

The sale is finalized with all required signatures. The agreed-upon funds are then transferred to you, officially completing the transaction.

02

Signing a Non-Disclosure Agreement (NDA)

Before sharing sensitive or proprietary information, both parties sign an NDA. This protects your business by ensuring all information shared remains confidential.

04

Sharing Detailed Information

Once interest is established, you’ll share more comprehensive information about your business, including operational details, customer base, employee structure, supplier relationships, and several years of financial statements.

06

Letter of Intent (LOI)

The buyer presents a non-binding Letter of Intent, outlining the proposed purchase terms, including the offer price, timeline, and key conditions. This serves as the foundation for final negotiations.

08

Agreement Drafting & Review

A formal, legally binding agreement is drafted to reflect the negotiated terms of the transaction. This document serves as the final blueprint for the sale.

10

Transition

Any transition plans outlined in the agreement are carried out. This may include transferring operational knowledge, introducing the buyer to key employees or customers, and ensuring a smooth handover.

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