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Selling a Business Valued at Over $1 Million
It is crucial to seek professional advice when selling a substantially sized business. As the owner of such a business, you may have a considerable fraction of your total income bound in your business. With help from our experienced senior brokers you can avoid unnecessary issues involving mishandled funds.
Obstacles may be encountered when:
- Classified information is leaked
- Businesses are not correctly valued
- Buyers are not pre-qualified as being legitimate
- The buyer’s integrity is questioned
- Sale & purchase agreements are not properly completed
- The due diligence process is not correctly handled
- Inaccurately composed advertisements captivate the wrong buyers
- The Link Corporate Process
It is not simple to sell larger businesses and often demands the competence of experienced senior brokers. For more than 15 years, LINK has supervised the sales of privately held Small and Medium Enterprises (SME’s). LINK’s Corporate team works with both buyers and sellers to provide high quality and confidentiality for businesses, whether they be worth $1 million or $50 million.
The Link Corporate Process
The First Step
Contact us to set up a confidential initial consultation with one of our senior specialist brokers. You will be assigned an expert who is well-versed in your area of business and enthusiastic to discuss the future of your business. This may include your ambitions, time frames and reasons for exiting, which will help us to better understand your current situation.
Market Appraisal Procedure
Once the sale is approved you will be provided with a detailed “Marketing Appraisal” document outlining the procedure involved in the sale. This procedure will consist of a financial summary of the previous year’s performance and financial calculations involved with pricing and planning.
Information Memorandum Document
At the completion of the advance planning we will be able to proceed as soon as you provide us with a timed authorisation. From this point we will proceed with the creation of the information memorandum, briefly describing the various aspects of the business. Once the document is completed you will need to approve it. From there your business will be able to receive an accurate representation.
Create a Marketing Plan & Find Serious Buyers
We will present you with a detailed marketing plan that is designed to reflect the specific nature of your industry and business. You will be provided with methods to find the right buyer for your professional needs. Buyers may be sourced from our database of qualified buyers, often resulting in a rapid sale. Once you have joined LINK we will be able to find suitable buyers from our ever-growing database.
If we mutually decide to market the business, your business and those interested will not be established in the advertising as pre-qualified. Therefore both must sign a confidentially agreement before acquiring any information.
Throughout the years we have gained much experience in the realm of buyers, an advantage that may save you time in the long-term. Our large information database has been designed to only include qualified buyers, meaning that they must have sufficient backing. Only once this has been determined will they be provided with the details on your business.
Sale & Purchase Agreement
In the ‘sale and purchase agreement’ the buyer lays down their proposal along with the conditions that must be accomplished before the agreement is complete.
One of the most vital steps of the sale process is preparing the sale and purchase agreement. From years of experience we are well-versed in the process of merging and obtaining SMEs. You can be confident that our knowledge will prepare you to be aware of certain situations, a matter that we will be sure to incorporate into the agreement. In preparing an agreement we will consult your legal advisers to keep your legal exposure to a minimum.
Authorise information supplied to buyer
At the conclusion of the agreement the purchaser will, under due diligence, need evidence for the provided information. They will then be given a specific time period in which they can review certain records and documentation for their own purposes or for their financial adviser. In anticipation for the sale of your business we will determine which records you will need to prepare for inspection.
Throughout the necessary diligence process a liaison is formed to fully satisfy the conditions of the agreement. This is a vital step that, unless managed by a third party, can result in unwanted complications that may bring a sale to a halt. Our work concludes once settlement and possession come into place.