First phone call and/or meeting; what is my business worth?
- It is impossible and neither I nor anyone else would be helping you if we were to throw out a number before conducting an extensive evaluation. In order to evaluate what a business is worth; we need three to five years of financials. I create a financial spreadsheet, answer several questions regarding you industry, pull industry standards and business comparatives. In addition, we evaluate your intellectual property, hard assets, as well as your good will. After conducting an extensive evaluation; I will provide my clients with a written evaluation. Keep in mind that it is not one size fits all; there are several different formulas for a variety of industries. Some industries are calculated by using a multiple of SDE (seller’s discretionary earnings) and some are a multiple of EBITDA (earnings before interest, taxes, depreciation and amortization) etc.
Do you have a buyer for my business? If so then just bring the buyer over.
- My firm has a database with thousands of qualified buyers. However, 95 percent of buyers do not buy the business they are calling about. In addition, a buyer will not meet with a seller before reviewing an offering memorandum, seeing financials, and knowing what the price and terms are. Therefore, an evaluation and offering memorandum must be prepared before contacting and meeting with potential buyers.
How long will it take to sell a business?
- The national average is that it takes nine months to one year to sell a business. I have sold businesses in as short a time as a few days, weeks, and months. Most of the time, it is the seller holding us up by not providing the information we need to prepare the offering memorandum and marketing materials. Remember, we have a database of qualified buyers waiting to purchase good businesses. Our buyers can make decisions quickly once they receive the prospectus for their review.
I’m worried about confidentiality. How will you keep the sale of my business confidential?
- My firm has never had a breach in confidentiality. We are strict and only show our client’s business after our buyers have signed all the confidentiality forms and have financially qualified to afford our client’s business.
How will you market my business?
- Every business is unique. We create a customized marketing plan for each one of our businesses. The first thing we do is run a query search via our extensive buyer database in order to locate qualified buyers for your business. In addition, we place all listings confidentially on 15 to 20 different MLS sites for business. We also utilize other marketing techniques that we have developed throughout the years for our specific client’s business.
Do you charge upfront fees to sell my business?
- We do not charge upfront fees to list and/or sell a business. Our firm is 100 percent result-driven. We get paid when we sell your business.
What is your commission?
- The industry standard is 10 to 12 percent. On average our firm obtains a 20 to 40 percent higher selling price than our client’s business appraises for. Therefore, we charge 12 percent. Our clients are ecstatic with the services we provide, along with the higher selling price that they receive.
Do you guarantee that you will sell our business?
- There are no guarantees when it comes to selling businesses. There are a lot of moving parts and a lot of people involved in the transaction. However, sellers who attempt to sell their own business have a 60 percent failure rate. Many of my competitors have a 60 percent failure rate, as well. My firm has a 98 percent closing ratio. Meaning we close 98 percent of all offers we write. We do not take all businesses. We are particular in which businesses we list and will not take a listing if we think we cannot sell it. The devil is in the details. We cross the t’s, dot the i’s, and make sure there is no surprise. In addition, we control and keep all the players involved focused and on track. People, and time, kill deals. We know that; that is why we are laser focused on keeping the deal moving forward. Many deals fall apart in the due diligence and closing phase. We are experts at putting “Humpty Dumpty” (deals) back together again.
Can you help fix my business and increase revenues so it will be more profitable in order to sell it?
- Our firm specializes in fixing and selling businesses. Many businesses are not sellable until we assist the seller in making some adjustments and changes in order to maximize profits. We work very closely with our clients and utilize my groundbreaking model: “identify the top nine in order to get their business in line” so we can sell their business for top dollar. We also specialize in assisting our clients plan their exit strategy.
What are some of the mistakes that sellers make when selling their business?
- That is a great question and can be answered on this site if you go to the top ten mistakes people make when selling their business.
Why should I hire your firm to sell my business?
- The owner of the firm ,Michelle Seiler-Tucker, is the author of the bestselling book; “Sell Your Business for More Than It’s Worth”. Michelle has sold over 300 franchises and several hundred businesses. She has helped several hundred business owners improve their business and plan their exit strategy. Her agents are trained personally by her. She approves every evaluation and listing in her office. Michelle is also founding partner of Capital Business Consultants, an international business brokerage alliance. She trains and mentors other business brokers.
How do I find out if Michelle and or her firm will take my listing?
- Go to the Contact section of this site contact our firm by phone or email. We will have an agent call you immediately to begin the process confidentially.