STEP 1 - Contact AEGIS
The decision to sell your business and the process can be rather complicated. You will find it helpful to talk to a couple of business brokers, your accountant, attorney and possibly other professionals prior to moving forward.
At AEGIS we provide free, no obligation, no pressure consultations conducted by our Managing Broker and your Accredited Business Intermediary.
STEP 2 - The Initial Meeting
Your initial meeting will be held in the strictest of confidence and can be scheduled at your place of business during non-business hours, at our office in Fayetteville or we have access to private offices throughout the area.
Your initial meeting will include discussions as to why you want to sell, what you are planning to do after selling, how sellable your business is, how we determine a market value and the process of selling a business in general.
We will conclude the meeting with a list of items we need to determine the market value of your business.
STEP 3 - Market Valuation
If you decide to take the next step you can send us the information we need electronically, drop it by our office or we can pick it up.
The market valuation process takes approximately 7-10 days and will include 2-3 methods of valuation, comparables of businesses for sale and businesses sold. When we have completed our market valuation, we will contact you for a follow-up no cost consultation to discuss our findings.
STEP 4 - The Listing
If you decide to list your business for sale with AEGIS Business Brokers we will start the marketing at the mutually agreed price.
No Fees will be due until we close on the sale of your business.
We have some of the lowest fees in the business brokerage world as part of our credo to maximize your return.
We also provide the Escrow Attorney and the Closing Attorney for every transaction.
STEP 5 - Marketing Your Business
Your business will be marketed confidentially utilizing blind ads and limited business summaries.
We market on six national business for sale websites, email blasts to our large list of buyers, our own websites, multiple social media outlets, Pay-per-click Google and FaceBook campaigns, trade specific sources, plus direct mail and telemarketing to potential buyers.
STEP 6 - Non-Disclosure Agreement
Every inquiry we receive is sent an NDA for electronic signature that includes a limited summary of the business opportunity. This limited summary does not include any business identifying information.
STEP 7 - Confidential Summary
When we receive a signed NDA we send out a summary of the business opportunity with the company name, description details, total sales, cost of sales and cash flow for three years.
The object is determine if your business is a potential fit for the buyer.
STEP 8 - Qualifying the Buyer
We do not send out any detailed information, financial or otherwise to a potential buyer until we have qualified them as being able to complete the transaction at your price.
If the potential buyer is qualified we will send them a "Confidential Business Report". The CBR goes into detail about the business opportunity including the financials no deeper than information that would appear on a P&L or Balance Sheet.
At this point we determine with the buyer if there is reason to move forward, tour the facility and meet you.
In other words.....you have been free to run your business without interruption or riding an emotionally roller coaster from having potential and sometimes unqualified buyers (tire kickers) making demands of your time.
STEP 9 - The Offer
If the buyer wants to proceed after meeting you and touring the facilities, we help prepare a written offer. There usually are at least three contingencies; due diligence, loan approval and lease negotiations.
You usually has 72 hours to accept the offer and then the buyer has 72 hours to make a deposit in an escrow account.
STEP 10 - Due Diligence & Contingencies
Due diligence is where the buyer looks at all your records in detail as a way of verifying what they have been previously told. We do not allow it to be a place to open negotiations. The due diligence contingency allow the buyer to withdraw their offer for no reason and no penalty. Their entire escrow deposit will be returned.
After due diligence the remaining contingencies are more binding and the buyer must prove they were denied a loan or lease, etc.
STEP 12 - The Asset Purchase Agreement
We prepare the first draft of the APA which includes all the finer details of the offer. This document generally is reviewed buy the buyer's and seller's attorneys and then we prepare the final draft. It will be signed by all parties at the closing.
STEP 13 - The Closing
After all the contingencies have been met, the closing is scheduled. The closing will include a review of all the sale related documents, the asset purchase agreement (APA) and a closing statement.
You will receive your proceeds minus any bills that you agreed to pay, AEGIS will receive their success fee and AEGIS will pay the fees of the Escrow and Closing attorneys.
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