11 Steps To A Successful Sale

  • Contributors:
  • Eric Larson
Image of management team meeting in open space to discuss sale of business

1. Advance planning

A truly successful sale involves planning ahead. Work with your team to increase the value of your business before putting it up for sale.


2. Targets

Identify potential buyers, then contact them to pitch the idea of buying a business.


3. Teaser

Distribute an anonymous executive summary of an available business with high-level information about the company.


4. Confidentiality agreement

Both parties sign an agreement before relevant materials are released and the deal discussion begins.


5. Prospectus

The buyer receives a prospectus, a confidential information memorandum, or an offering memorandum.

This includes the company’s history, product descriptions, customer details, financials, and other relevant information.

6. Indication of interest

This simplified written offer includes a valuation range and lays the groundwork for the deal.


7. Management meetings

The seller and buyer meet face-to-face to discuss the future of the company and gauge compatibility.


8. Letter of intent

The buyer submits a detailed offer with a firm price.


9. Due diligence

The buyer reviews financial information and other records.


10. Purchase agreement

This legally binding contract outlines the purchase details.


11. Closing

The actual exchange of funds and signing of paperwork for selling the business.


Have questions about the sale process? Let’s talk!

Securities offered through Doeren Mayhew Capital Advisors, LLC. MemberĀ FINRA/SIPC.