Successful Sale of a Small Business

JEFF BACH is part of the team of top business brokers in this area at Fusion Business Brokers. Fusion Business Brokers combines the highest levels of technology, marketing and professional experience for the needs of business owners. With access to their large network of qualified buyers, Jeff offers the best opportunity to help you successfully sell your business.

He only gets paid when you sell. Valuations are free and are the starting point to knowing when the right time is to sell your business. Jeff can also help qualified buyers find and buy a business that meets their 56goals. You can contact Jeff for a free, confidential, no-obligation discussion about selling your CLM business or buying a business at 314-941-8530, or by email at jbach@fusionadvantage.com.

Completing a Successful Sale of a Small Business

AN ACTUAL CASE THAT DEMONSTRATES HOW THE PROCESS SHOULD WORK BY JEFF BACH

rian worked in his father-

Bin-law’s heating and cooling business. When his fatherin-law was ready to retire, Brian and his wife purchased the company using an SBA loan and some seller financing. Through hard work and modernizing business practices, Brian grew the business quite a bit, and it was very successful. Brian handled his finances well, and in his late 50’s he realized that he was in the financial position that he didn’t need as much income anymore. Also, he knew that it would be nice not to have all the responsibilities of owning a business. Brian contacted me to discuss the possibility of selling the company. He knew that I had a lot of experience helping owners sell their businesses, and he wanted to learn about the process. Brian, his wife and I all met, and I began learning. First, about Brian’s situation and needs. Once it was concluded that it was a real possibility to sell the business, the next step was to help Brian with a valuation of his company. This gave him a good idea of how much to put the business on the market for. There was no charge for this service. Once the valuation was complete, we had additional no-pressure meetings to determine if a sale at that price would make sense for Brian and his family. After some thought the answer was yes, and that is when as his business broker, we went to work! A detailed listing agreement was drawn up and signed. The business was then strategically marketed in multiple ways, beginning with our list of qualified buyers who we knew were looking for this type of business. All potential buyers were screened to make sure that the opportunity fit their finances, their skill sets and their financial situations. Everything about the opportunity was kept confidential to the public. A few months after listing, Mike, who owned a business with some similarities to Brian’s, contacted me with interest. So, I met with Mike to learn if the purchase would be a good fit for both sides. There was a lot of due diligence completed. The buyer and seller met multiple times under my guidance as the intermediary for both parties. After this process was completed Mike told me that he would like to purchase Brian’s company. I helped Mike prepare an offer and presented it to Brian and his wife. My team was able to help through the entire negotiation process. This was not just about price and terms. It was about two families’ futures. Many details had to be worked out. Important needs and emotions had to be considered. A deal that was good for both parties was agreed to. Next came the process of helping the buyer secure financing. My team’s experience not only guaranteed that Mike would be referred to the best lenders, but also that as his broker, we would be there to help him through the financing process. At the same time, I assisted the seller in preparing everything that they needed to take care of for the sale. As there often are, a few hiccups were encountered along the way. Again, having an experienced broker paid off, and the closing was completed. Both seller and buyer are happy, and they still communicate with me on a somewhat regular basis.