Sell Your Business
At One Source Business Solutions, we understand that you have committed considerable time and resources to build your business
What are the advantages of selling your business through us?
Our business network and experiences are wide and deep. We handle companies in any industry who are looking to exit. Our typical size company that we broker with is a business that is valued at $1M.
Why Choose One Source Business Solutions
We offer minimal upfront fees.
A reasonable retainer is required and ensures that we can immediately begin marketing your business. The fee is credited to the seller upon completion of the sale.
We have extensive marketing experience.
Website – We advertise your business on our website as well as Bizbuysell,
PBBA (Pennsylvania Business Brokers Association), Bizquest and Business Broker.net.
Mail – Direct mail campaigns are set up to target like or ancillary type businesses.
Email – We utilize our vast network of businesses to share the listing.
Outbound Calling – We use follow-up phone call campaigns to provide optimum coverage of the Direct Mail and emails.
Our process for selling your business:
- Determine the need for the sale and ensure that it is the correct decision
- Perform a professional business valuation
- Discuss any tax implications with your accountant
- Enter into the listing agreement
- Create a sales prospectus to highlight the business as well as a general marketing piece and introduction letter
- Create on-line brokerage listings based on business type
- Create and contact targeted prospects: Related and comparable industries
- Work with qualified prospects taking as active a role as the Seller desires
- Negotiate with buyer to the best advantage of the seller to sign the sales agreement
- Assist with financing as needed
- Work with both sides as we complete due diligence
- Complete the closing process
- Post-sale follow-up
Following are some of the most common questions asked by sellers – and if you are contemplating selling your business, these are questions you should be asking, too.
What Can – and Can’t – A Business Broker Do for Me?
Business brokers are the professionals who will facilitate the successful sale of your business. It is important that you understand just what professional business brokers can do – as well as what they can’t. Business brokers can help you decide how to price your business and how to structure the sale so it makes sense to you and the buyers. They can find the right buyer for your business, work with the seller and the buyer in negotiating, and coordinate every step of the way until the transaction is successfully closed. They will also help the buyer with all details of the business buying process. A business broker is not, however, a magician who can sell every business. Most businesses are saleable if priced and structured properly. You should understand that only the marketplace can determine what a business will sell for. The amount of the down payment you are willing to accept along with the terms of the seller financing can greatly influence not only the ultimate selling price, but also the success of the sale itself.
Why Is Seller Financing Important To The Sale Of My Business?
Surveys have shown that sellers who ask for cash receive, on average, only 75% of their asking price, while sellers who accept terms typically receive 86% of their asking price. In many cases, businesses that are listed for all cash just don’t sell. With reasonable terms, however, the chances of selling increase dramatically, and the time period from listing to sale greatly decreases. Most sellers are unaware of how much interest they can generate by financing the sale of their business. What’s more, seller financing tells the buyer that the seller is confident about the ability of the business to – literally – pay for itself.
How Long Will It Take To Sell My Business?
It generally takes, on average, between six months to a year to sell a business. (Keep in mind, however, that an average is just that). The sooner the business broker has all the information needed to begin the marketing process, the shorter the time period for selling should be. It is also important that the business be priced properly with reasonable terms right from the start. It has been shown that the amount of the down payment may be the key ingredient for a quick sale. The lower the down payment, generally 40% of the asking price or less, the shorter the time to a successful sale. A reasonable down payment also – as in the case of seller financing – sends a message to a potential buyer about the seller’s confidence in the health of the business.
What Happens When There Is A Buyer For My Business?
When a buyer is sufficiently interested in your business, your business brokers will help in the preparation of an offer or proposal, which may have one or more contingencies. Usually, contingencies call for a detailed review of your financial records and may also include a review of your lease arrangements, franchise agreement (if there is one) or other pertinent details of the business. The buyer’s proposal will be presented to you for your consideration. You may accept the terms of the offer or you may make a counter-proposal. Business brokers will submit all offers to you for your consideration. When you and the buyer are in agreement, the business broker will work with both of you to satisfy and remove the contingencies in the offer. It is important that you cooperate fully in this process; otherwise, the buyer might think you have something to hide. The buyer may, at this point, bring in outside advisors to help them review the information. When all the conditions have been met, final papers will be drawn and signed. Once the closing has been completed, money will be distributed and the new owner will take the possession of the business. Your business broker professional will work with you throughout the entire sales process.
If you are in the beginning stages of making the decision to sell your business you will want to download our 13 page PDF. The guide can help you think through the steps and stages of the process.