The Process of Selling Your Business, Page 2

Marketing Your Business

Once you have established offering price and terms, your search for the right purchaser begins. Buyers may be found through a targeted search of potential candidates in your industry, or perhaps the business opportunities section of local and regional newspapers. Professional business brokers are in contact with a number of qualified purchaser prospects, and assist in the discreet search and screening of strategic buyers.

The Importance of Confidentiality

Confidentiality is KEY in maintaining the goodwill of your company and in minimizing the disruptions of the work place during the marketing of your business. Uncertain about the future of a company that is for sale, employees and customers could begin to look elsewhere for employment and services. It is usually best to wait until a transaction looks eminent before key individuals are told of a sale.

To help minimize exposure, specific information regarding your company should be revealed only to qualified purchaser prospects after they have executed a non-disclosure agreement.

A qualified purchaser prospect is an entity that has established:

• A desire to purchase a company
• Financial capability necessary to complete your transaction
• The qualifications and resources necessary to run your company
• The willingness and ability to move forward in a timely fashion