Steps to selling your busines

The process starts with a clear understanding of your company and your goals.  Using a standard questionaire we can quickly determine if there is anything that may prevent you from achieving your objectives.  Typical items identified include - earnings levels and trends do not support expected valuation, accounting  or tax records are not adequate or up to date, proper tax structuring needs to be completed to maximize the use of available exemptions and organization structure, management reporting and governance processes require refinement.Bob would be pleased do complete a high level readiness assessment at no charge.  If there are issues that need to be addressed we will provide you with a detailed explanation of the issue and potential consequences.  On request we will provide an action plan to address the issues and consulting support to implement necessary changes.

The key selling features for the business and high level information that potential buyers will be looking for are summarized in a confidential information memorandum (CIM).  A list of qualified target buyers is identified Once this list is approved by the business owner then each party is contacted and delivery a clear concise sales pitch.   Once non-disclosure agreements are signed the CIM is sent out.    Concurrent with this a "data room" is created with all the backup information that would typically be asked for to support the buyers due diligence.

A number of factors beyond price need to be evaluated.   Is the deal structure the most advantageous for the seller?Is the buyer looking for vendor financing?  Are there significant or unusual conditions to closing?  How quickly is the buyer willing to close?  Are there adjustments to the purchase price and what affect will they have the final amount received?Legal counsel and tax advisors should be engaged at this stage to ensure there are no issues prior to committing to a final structure.  Their involvement at this stage will minimize disputes, delays and professional fees.

The buyer will want to verify that the information provided in the CIM is accurate.  They will also want to meet the key members of the management team.  This process can quickly get out of control if not managed closely.  We will serve as the main contact point and will ensure it is completed in a timely manner and will minimize disruptions to your day to day operations.

Assuming a smooth due diligence process with no new issues identified the definitive agreements should match the substance and the inter of the key terms in the term sheet.  However the old adage - "The devil is in the details" truly applies here.  Nice Consulting will review all the agreements and advise you of any terms or conditions that are unusual for this type of transaction and raise concerns in areas that could create risk.  Bob's  extensive experience and pragmatic approach will ensure that only the critical items are negotiated and that each party clearly understands the other's perspective.  One of the greatest skills Bob brings to the table is the ability to bring issues to the forefront early and obtain mutually satisfactory outcomes for all.The steps in purchasing a business are very similar.  For acquisitions we can also provide support in :

• assessing or helping develop your acquisition strategy
• identifying targets
• contacting targets
• developing term sheets or letter of intent
• negotiating term sheets
• completing due diligence
• managing the completion of definitive agreements
• closing the deal
• support management in ensuring deal benefits and synergies are achieved and that key integration steps are completed on schedule