Selling Process

As a small business owner considering your options for selling, you know about running your business but you don't know how to go about selling it. You need to know:

  • that the confidentiality of your business will be protected
  • you will get maximum exposure to qualified buyer prospects
  • you will receive sound advice in responding to offers
  • you will get the best possible price
  • you are choosing the right firm to represent you and why you should choose CBB 
     

You need a reputable business brokerage firm that has a verifiable track record and holds current membership in all the important professional associations because you want their knowledge and techniques current. You want a firm that has a stable history and an experienced team of professionals working on your behalf to maximize the chances for a successful sale.

Our standardized methodology is a system that has been honed and proven for over 35 years. We use automation and modern technology to qualify buyers, execute non-disclosure agreements, to track disclosures to potential buyers, and to give monthly reports to all clients listed with us.

The following is an 8-step overview of what you, as a seller, can expect.


STEP 1: VALUATION

A pre-sale valuation is the first step in determining if your restaurant is positioned to sell and if a sale would meet your financial needs. It provides you with an objective price range that you can expect in the current market. You can call us to begin the process or complete our Free Value Assessment Form.


STEP 2: CONTRACT

A contractual listing agreement is entered into between you and CBB, giving us the right to market your business as your representative for a specified time period and price, under specified terms and conditions. Once a contact is in place, we gather an array of data in preparation for launching your business into the marketplace.


STEP 3: MARKETING

With the data provided and your input, CBB generates a unique campaign to market your business to potential buyers. The cornerstone of this campaign is a detailed business profile, which is a document that educates buyers about the operation, facility, financial status, assets, and future opportunities of the business. An advertising campaign using CBB’s extensive buyer database and search resources is then implemented to confidentially target specific buyers, as well as approach the general public. Our aggressive marketing program ensures your confidentiality and provides maximum exposure for your business.


STEP 4: BUYER SCREENING

Before receiving sensitive information about your business, CBB works with each buyer prospect by having them sign a Confidentially Agreement and complete a basic financial an experience profile. We field buyer questions as best we can using the data provided during the info gathering period, contacting you only when required.


STEP 5: MAINTAIN BUSINESS OPERATIONS

During the entire process you are responsible for maintaining or improving the value of your company by tending to daily operations. You are also responsible for providing us with updated financial and operation information so we can keep our marketing of your business current.


STEP 6: THE BUYER / SELLER MEETING

CBB confidentially schedules all showings at your convenience. An appointment for a buyer and seller to meet is usually made when a buyer is considering making an offer to purchase the business. The buyer would have already reviewed the business profile and financials and received answers to their questions. It is common for sellers to require that all such meetings be during non operating hours to avoid premature disclosure to employees and customers. This is the chance for the buyer to tour the facilities, ask questions and get a feel for what it would be like to walk in the owner's shoes. However, this meeting is not the time to discuss the price and terms of the sale. A CBB professional will be the liaison for the two parties on that subject.


STEP 7: OFFERS

CBB presents all offers and negotiates on your behalf.Appropriate negotiation is crucial to achieving a successful sale. Half the job is finding the right buyer, the other half is getting to the closing table. The deal must achieve a win for both parties and we have the expertise required to conduct sound negotiations that can make that happen.


STEP 8:  CLOSING

CBB coordinates the due diligence and contingency satisfaction process and will be the facilitator for getting the sale consummated on schedule. We coordinate the accountants, lawyers, bankers, landlords, and other third parties involved in completing the transaction. We realize that you depend on us to guide you through every step. We make the transition as simple and easy as possible for you. A formal closing typically takes place in our office where legal documents are signed, funds are received and ownership is transferred.