1. Value
How much is your hard work and passion worth? Gateway Brokers offer a free Broker Opinion of Value to help you determine the value of your business based on the current market and other factors. If an independent third-party valuation is needed, or desired, we can facilitate one. You then have the information you need to decide if now is the right time to sell.
2. Engage Gateway
When you are ready, our Brokers are happy to meet with you to discuss the market, your objectives, and buyer expectations. If you decide the time is right to sell your business, the representation agreement is signed.
3. Build Marketing Package
A Confidential Business Review is a customized marketing package introducing potential buyers to an overview of your business, historical performance, strengths and opportunities. You and your Broker will work together to create the best package possible. Only buyers who have signed a Confidentiality Agreement will receive this Confidential Business Review.
4. Market
Gateway Brokers will take care of marketing your business to all skilled and financially capable buyers; while keeping Confidentiality a top priority. No potential buyer will see any information about your business without first signing a strict confidentiality agreement. Gateway will execute a marketing program customized for your business. By leveraging our database of buyers, aggressively marketing your business, and expertly managing the sales process, our goal is to get multiple offers in front of you so you can make the best decision for you and your family.
5. Buyer Commitment
We work diligently with buyers to get them from talking about an offer to writing an offer. Gateway strives to obtain multiple offers from buyers so you can negotiate the best deal to meet your goals. Our Brokers will help you analyze each offer highlighting pros and cons to each. You will accept the offer that best meets your financial, business and personal needs.
6. Negotiations
Gateway assists our business owners through the negotiations process. At the beginning of the process, you and the buyer have two common goals: to reach a mutually acceptable purchase agreement and to close on the transaction in a timely matter. As an owner, you need to decide what you need out of a deal. The buyer does the same. Negotiating is a series of compromises on both sides in order to bring the two parties together to achieve the mutual goal of an acceptable purchase agreement. The Broker keeps the negotiations moving forward while being a buffer between the parties to protect the future working relationship between buyer and seller.
7. Due Diligence
Basically, the “show me the money” phase for both buyer and seller. The buyer and his advisors verify the information you provided on the business and its financial performance. You and your advisors verify the information provided by the buyer. Additionally, your Broker will assist and/or coordinate securing 3rd party financing if necessary, completing any licensing requirements, inspections, appraisals, insurance and other requirements specific to your transaction.
8. Definitive Purchase Agreement
The next step is the drafting of the Definitive Purchase Agreement. The most cost effective option is for a commercial escrow company to draft the agreement and circulate it to both the buyer and the seller for their attorney to review. Once the Definitive Purchase Agreement is successfully negotiated and signed, the commercial escrow company will draft the supporting closing documents. These documents will be sent to the parties and their attorneys to review and approve.
9. Closing
Success! Both parties are at the Closing Table to execute the supporting closing documents. If a 3rd party lender is involved, the documents are sent to the lender for final review to be sure all the “I’s” are dotted and the “T’s” are crossed before the transaction is funded. The ownership transition process will begin. Your Gateway Broker can offer advice on how to make the transition as smooth as possible.
