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Selling

Selling

Many factors go into the pricing of a business for sale. We can work with you to evaluate your business based on
your goodwill, location, business history, financial statement, lease and the term of sale
How will the purchase price be allocated?

Three year profit and loss statement.
Three year balance sheet
Three year income tax
Up to date..

Be prepared with a copy of your property lease and any other financial documents, such as your inventory, your
accounts payable, and your accounts receivable.

Selling a retail business with a brokers can be a good option if you want to maximize your chances of finding a buyer and achieving a good sale price. Here are the general steps to follow:

1. Find a reputable brokers: Look for a brokers who has experience selling retail businesses, a good track record, and a strong reputation in the industry. You can do research online, ask for referrals from other business owners, or speak with industry associations to find a reputable brokers.

2. Meet with the brokers: Once you have identified a brokers, set up a meeting to discuss your business and your objectives. The brokers will want to know your business’s financial performance, key assets, and competitive advantages to help them determine a fair market value.

3. Sign an agreement: If you decide to work with the brokers, you will need to sign a listing agreement. This will set out the terms of the agreement, including the commission rate, the duration of the listing, and the services the brokers will provide.

4. Prepare your business for sale: With the help of the brokers, you will need to prepare your business for sale. This may include updating financial records, making improvements to your store or online presence, and ensuring that inventory is well-managed.

5. Market your business: The brokers will use their network and resources to market your business to potential buyers. This may include advertising your business online, contacting potential buyers in their database, and advertising in relevant publications.

6. Screen potential buyers: The brokers will help screen potential buyers to ensure they are serious about purchasing your business and have the financial resources to do so.

7. Negotiate the sale: The brokers will help negotiate the terms of the sale, including the purchase price, payment terms, and any contingencies.

8. Finalize the sale: Once you have agreed on the terms of the sale, the brokers will help you finalize the transaction. This may involve signing a purchase agreement and transferring ownership of the business.

9. Manage the transition: After the sale is complete, the brokers will help manage the transition process to ensure a smooth handover to the new owner. This may include training the new owner on your business processes and introducing them to your suppliers and customers.

Overall, working with a brokers can be a valuable way to sell your retail business, as they can help you navigate the complex process of selling a business and connect you with potential buyers you may not have been able to reach on your own.

Sellers have a lot to do with this time frame also. Your job is to make sure that a potential buyer gets what they need
in a timely fashion and that all of their reasonable questions are answered.

The buyers verify their check list such as employees payroll, bank statement.

The Non Disclosure Agreement that we use also includes details on the potential buyer including their liquidity, net
worth, work experience, time to close, etc. This means no detailed packages are sent to unqualified buyers.

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