How To Sell A Business
F.A.Qs
Probably not, but that depends on each scenario. Give us a call so we can talk it through. More than likely, it’s best to keep the potential sale of your business out of the headlines for a little while. Typically, it’s not a good thing for your customers, competitors, or employees to know. That’s why every person we engage on your behalf has a signed NDA in place. This protects you from uncomfortable conversations with your employees and customers, as well as from anything your competitors may do to undermine your operation.
Argos can help. We have a team that can take your bank statements, credit card statements,
merchant services account information and help you get your books back in order. Whether you’re one year behind or several years behind, don’t worry. We can help and many times, we are willing to do the bulk of the work for a small up-front fee. We are determined to help you, no matter the situation. We have a passion for small business owners, and we’re determined to put you in the best position possible
Part of our Brokerage Package is that we list your business on several websites in order to get your business in front of the most qualified buyers we can. We list your business anonymously on sites like Bizbuysell.com, Bizquest.com, the Wall Street Journal and over a dozen others.
We list no identifying characteristics about your business but create a marketing package that we send to qualified prospects. That’s the other benefit of listing with Argos, we vet every prospect that sends us a request for information. We make sure you’re not going to waste your time with tire kickers or people who aren’t qualified to buy your business in the first place.
We can handle that for you. We will schedule a walk-through of your business with the buyer.
At that time, they may have questions and we sit down together and discuss openly about your business. The only thing we don’t talk about is… Price! Since the first offer is often a low-ball offer, it’s best for us to handle the negotiations on your behalf. We take as much of the emotion out of it as possible, and though we will send over every qualified offer, you’re the one in the driver’s seat regarding whether or not you’ll accept. Every business transaction is different, and our job is to make it happen, be creative and have fun! We’re in this together. We’re only satisfied when you are!
Getting legal council is up to you, but our in-house legal team can change contracts and handle the volley back and forth between you and your buyer. If you’re comfortable with our team, we can certainly handle the transaction, and everything will be buttoned-up quite nicely. However, we want you to determine what’s best for you and if you can afford it, it’s always best to allow a second set of eyes to take a look at everything. So, the answer is up to you, just know that we can get the job done without burning legal calories or at least minimizing your legal and professional services bill.
The answer is really up to you and the new buyer. Most buyers want a nice handoff, and that usually means that you should be there at least to shadow everything for a period of time to be determined in negotiation. Developing a relationship with your existing employees is really up to the new buyer. Their leadership style may fit nicely with your current staff and with you there for a transition period, it should help to forge the professional relationships necessary for a smooth transition. However, if there are issues, and many times there are, Argos can also help create a transition strategy that is beneficial for both you the seller, and the new owner. Let’s face it, some people and personalities don’t mix well, and leadership styles vary as do personalities. It’s important to be patient and to be respectful. Even if the new owner does things differently, it’s extremely important for you to coach your old employees in a professional manner.
Argos is not a commercial real estate agency, but we partner with a local commercial real
estate agency whose values are closely aligned with ours and have a great working relationship with their team and we will be glad to make an introduction.
Our standard brokerage fee is Eight percent (8.0%) of the business’s gross sale under $1.0
million and Six Percent (6.0%) thereafter. We charge an upfront fee of $2,000, which is taken out of the commission, but is non-refundable if the business doesn’t sell or you decide, for whatever reason to take your business off the market.
How To Buy A Business
F.A.Qs
First things first, get your financing in order. Securing financing to purchase the new business and the cost to access the capital is almost every new business owner’s first challenge. Whether you’re paying cash or getting financing through one of the Small Business Agency (SBA) programs, make sure you’re ready to make a valid offer by talking with your local bank. Argos can work with your bank to help you structure the financing of the business and we also have a list of SBA 7a approved lenders that we may recommend.
Most business owners have a set amount of cash they need to sell their business. The rest, they may be willing to financing with certain stipulations. Argos can be creative here and we are more than glad to help you find a business that has owner financing. We think it’s a great option, as long as there is a reasonable down payment and work experience to go along with it.
A transition period is almost always the norm when buying or selling a small business. The previous owner wants you to be successful because you’re taking over their “baby” and also going to be working with the employees they’ve probably worked with for years. Argos can help you determine how much of a transition period is appropriate and will do our best to build a bridge between you and your
new team.
Still Have Questions
Send us a message with your questions and we will contact you back ASAP