Sellers Tips

CONNECT Financial Service Brokers can assist you at each stage of the selling process, preparing your business for sale, finding potential buyers, and negotiating the deal to achieve the best results for you and your business.

Preparing your business for sale

Initially we will discuss market values, the sales journey, the information we require from you, and your criteria for your ideal potential acquirer. We then gather comprehensive and detailed information about your business, its performance, and its clients.

This enables us to prepare an Executive Summary, which is the key document we present to potential buyers to assist them to evaluate and determine their level of interest in your business.

We work with you to develop an overall marketing strategy to source potential buyers, and to firm up issues around pricing and what is and isn’t negotiable.

Recommending potential buyers

We use a variety of methods to find potential buyers that match your ideal criteria. We contact our database of over 1500 qualified buyers and contact other networks as appropriate.

We then interview and evaluate potential buyers to confirm cultural fit, ability to pay, terms and conditions. We review potential buyers with your criteria and business strategy in mind, and then make our recommendations to you.

Negotiations begin

Once we have qualified and short-listed potential buyers, we arrange for the parties to meet. This is normally limited to individual meetings with up to three to five prospective buyers. The aim of this initial meeting is to provide you with an opportunity to assess cultural alignment, suitability, and philosophy for providing advice to clients.

Once you have selected your preferred buyer we enter into the negotiation stage. This stage can take several weeks to complete. The outcome is a term sheet that lists all the key points, which has been agreed and executed by both parties and forms the basis for the business sale agreement.

Final negotiations

This requires the identification and resolution of all final items including premises, staff, finance, tax, and adjustment mechanisms. We then seek to finalise negotiations. This includes, but is not limited to, contracts, warranties, terms and conditions, handover periods, ongoing involvement of the vendor, and client transition communication strategies. This can take several weeks.

Close liaison and effective communication with the lawyers of each party are critical to ensure that deadlines are met and goodwill is maintained between all the parties.