Step 1: We collect vital information about your business, which will then be analyzed and compared to similar businesses.
Objective: This will give you a top-level assessment of industry-wide performance (geographic location considered) and business valuation.
Step 2: We recast the business balance sheets and income statements (or in many cases, the owner’s tax returns) to reflect the economic performance of the business.
Objective: To report the fair market value of assets and discretionary income. This is what buyers will need for their buy assessment.
Step 3: We will complete a valuation report for your business, sharing with you best practices in your industry and financial ratios from similar size businesses.
Objective: To justify the selling price.
Step 4: We prepare a Confidential Memorandum to enhance the presentation of vital business information when making presentation to prospective buyer(s).
Step 5: We develop a marketing plan for the following regions:
- New England – Main Focus
Marketing plan to include:
- Local and national listing through online subscription based aggregate sites
- Targeted Direct Marketing campaigns
- Leveraging First Street’s extensive database
- Other – i.e. Networking
Step 6: We screen all buyers that express interest in your business.
- Financial capacity to buy
- Reference check
- Buyer profile – i.e. related experience, time frame
- Executed confidentiality agreement
Buyers who meet criteria will be able to view the following in respective order:
- a) Business profile: summary information of business (no identity of location or business name)
- b) Confidential Sale Memorandum along with related financial documents
Step 7: We encourage the buyer to submit a former Offer to Purchase.
Step 8: We meet with seller to view buyer offer. If seller agrees to structured offer, First Street Business Brokers will facilitate the buyer’s further examination of business (due diligence process).
Step 9: We arrange closing and assist buyer in structured financing.
- All correspondence (verbal and written) between seller and the First Street Business Brokers, LLC to be held in strict confiden
- No information will be shared with third parties without consent from the
- Confidentiality is bound by “Confidentiality Agreement”, which includes any potential buyers who may be interested in your