Prepare Your #Business For #Sale

Our process begins with a simple, no cost or obligation conversation with the business owner. The goals of the initial conversation are for Stein & Mann Advisory to learn about the business and for the business owner to learn about the unique process of selling a business for maximum value. Another goal we have for the consultation / evaluation phase of the process is for the parties (Stein & Mann Advisory and the business owner) to develop a trusting relationship – as we believe trust will form the foundation of the working relationship going forward. Once trust and mutual understanding is established, step 2 is recommended.

Every business owner has a business valuation goal. Sometimes the market supports that value goal and sometimes it doesn’t. Therefore, before suggesting a full engagement with the client, Stein & Mann Advisory conducts a market value study to determine whether the business owner’s value goal is realistic. For a small fee, we collect the information needed to determine (within a fairly tight range) the market value of a business as well as the key value drivers of the specific business. Once the study is completed, the results are shared with the business owner and decisions can then be made about whether to take the next step.

Once Stein & Mann Advisory and the business owner have agreed on mutual goals and expectations for the project at hand, we invite the client to enter in to full engagement with us. We charge a one-time, minimal fee that simply establishes “skin in the game” for both parties. During the engagement phase, Stein & Mann Advisory creates a detailed Descriptive Report about the client’s business. This report is based on the accumulation of various objective materials and conversations with the owner and management about the history and future opportunities of the business. Once the Descriptive Report is finalized and approved by the business owner, we create a Blind Profile to be marketed worldwide.

The market place for a given business should not be limited to a given geographic region or buyer stereotype. Therefore, before going to market, Stein & Mann Advisory’s extensive market research identifies the likely Strategic and Financial buyer candidates for a given business opportunity. The resulting market place of buyers for a given business often consists of thousands of Strategic and Financial buyers on a global scale. Once the marketing strategy is identified and in place, Stein & Mann Advisory executes that strategy by submitting the Blind Profile to the market. Then, interested and qualified buyers request the full Descriptive Report, which we then provide in exchange for a fully executed, legally binding Non-Disclosure Agreement.

Our process normally results in multiple interested and qualified buyer prospects, each rallying for a given opportunity at the same time – resulting in maximum value for our client. Stein & Mann Advisory fields questions from interested buyer candidates and requests Indications of Interest (IOIs) on behalf of the client. With the IOIs in hand, we arrange for management calls and/or site visits with the potential buyers in order for the parties to become comfortable with each other. Then, Letters of Intent (LOIs) are offered by the potential buyers and the business owner eventually accepts one. Once the business owner accepts an LOI, Stein & Mann Advisory works with the business owner and the buyer during the due diligence phase to facilitate the flow of information – leading to the successful closing of the partial or total business sale.
The challenge of selling a business requires an incredibly high level of business understanding and experience. It also requires a committed, disciplined process with a proven track record. Stein & Mann Advisory delivers on all fronts.