Jordan Larsen - Business Broker | Sell a business

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6 Steps to sell your business

Why do you need a business Broker?

To legally sell a business in most common circumstances, you will need a Licensed Salesperson and Licensed Agent under the Real Estate Agents Act 2008. Jordan Larsen Licensed Business Broker, meets these legal requirements and adds value by managing the process in a planned orderly manner, to ensure sensitive information is protected, uncertainty is avoided and the absolute best sale price is achieved. Jordan uses a tried and tested 9 step process to sell a business.

1

Initial Consultation Meeting

This is with the active Director/s of the business, to discuss the current situation, the current condition of the business of basic financial benchmark figures, the key points of interest or factors to consider during the sale process and determine the desired timeframes for the sale and key objectives of the sale, sale format and exit of the outgoing current Director/s.

2

Appraise the business

A four page appraisal report details the current expected sale price of the business using a range of previous sales data from businesses sold within the same industry or subsector during the past 3-5 years and apply a combination of valuation methods to the current and recent financial reports and business information.

3

Marketing Plan

Determine the target market of expected buyers and determine a marketing plan to reach the desired audience of most likely buyers, while also casting the widest ‘net’ possible to attract the highest levels of qualified buyers possible.

4

Listing the Business for sale

Signing a listing agreement with the Directors for the Authority to Act on behalf of the business and listing the business for sale across the various marketing channels identified in step 3.

5

Qualifying genuine buyers and Contracts

Having ALL interested parties agree to Non-Disclosure of business information and then with interested parties signing an Agreement for Sale and Purchase of a Business agreement to get the framework of a deal done. The Agreement for Sale and Purchase of a Business, which is used by Jordan here, is an REINZ and Auckland District Law society standard approved document for the purpose of buying and selling a business within New Zealand.

6

Due Diligence and Settlement of funds

Facilitating the information and due diligence aspects of both interested parties(buyers and sellers) following the acceptance of the Sale and Purchase Agreement by both parties, in order to satisfy all sale conditions and declare the business sale ‘unconditional’. Management of the process through to settlement holding all parties accountable to the agreement details and timeframes in order to complete the sale. The Deal is Done!