Akron, Ohio Business Brokers | M&A Advisors

Business Broker and M&A Services in Akron, Ohio

The Sales Process

At Morgan & Westfield, our business advisors utilize a 10-step process when selling a business. This process includes:

• Planning the Sale: We provide exit planning services designed to prepare you for your business’s sale. During this phase, our advisors will discuss with you about your sales options and help you complete all necessary activities to prepare for your business’s sale.
• Appraisal: Our business advisors will appraise your business and provide you with a formal business valuation report. This report will include an estimated most probable selling price and a recommended range of asking prices.
• Marketing: At Morgan & Westfield, we use a system called “confidential marketing” to advertise your business’s sale in a way that maintains your confidentiality. Essentially, your business is advertised to potential buyers using general information; interested buyers are then prompted to contact Morgan & Westfield to learn more.
• Buyer Screening: To ensure that you are connected to qualified buyers, all interested buyers who contact our office are screened. These buyers will also be required to sign a confidentiality agreement before they can move forward in the sales process.
• Offering Document: Once buyers have been properly vetted and have signed a confidentiality agreement, they will be provided with your offering document. This document is created by our business brokers and will outline important information about your business for buyers.
• Due Diligence: Both the buyer and the seller will want to have as much information about each other as possible so that both sides can make informed decisions during the negotiation process. Our brokers will assist you in researching your buyer, and also assist you in providing your buyer with information about your company so that they can complete their due diligence.
• Negotiations: During negotiations, you will meet with your potential buyer to discuss the sale of your business, at which time the buyer may make an offer to purchase your company. You can either reject the offer, accept the offer or make a counteroffer. This process will continue until a deal is reached. While our business brokers cannot negotiate the sale for you, we will be advising you throughout this process and helping you to make educated decisions.
• Financing: Most business sales will require some financing. If your sale is being financed through a lending service, we will work with these industry professionals to expedite the process as much as possible. If you are financing your own sale, we will help you to establish this debt service and structure a repayment plan for your buyer.
• Contracts: Once all of the sale and financing terms have been agreed to, everything will need to be outlined contractually. Our advisors will prepare these contracts for you and make sure that contract terms are properly structured to ensure a successful sale.
• Closing: After all of your contractual terms have been agreed to and your sales contract has been signed, both the buyer and the seller will have obligations to fulfill. Our advisors will assist you with fulfilling your obligations and completing all of the paperwork to finalize your sale.

Sell Your Business in Akron, Ohio

If you are thinking about selling your business, our business advisors are here to help. We provide services that will guide you through the completion of every step in the sales process. Our business advisors will use their knowledge about business sales and their local connections to ensure that your business is sold successfully. We will work to sell your business successfully and to conduct the sale in a way that makes the sales process as easy as possible for you, allowing you to get to the rewarding aspects of selling your business sooner. To learn more about our services and how our business brokers can facilitate your business’s sale, contact the Akron, Ohio, office of Morgan & Westfield today.