We, as brokers, have a crucial role in selling your business. We make sure you understand the process and that you’re ready to proceed with this important decision. We package your business and market it to prospects. We field inquiries and screen and qualify potential buyers to ensure they’re the right fit for your company.

Our job is much easier when you’re pulling your weight as a seller. Delays occur in transactions because sellers are not responding to requests for information or documentation quickly. Time is the enemy of most deals; buyers usually have more than one option available to them, and if a deal is languishing, they might very well move on to the next business. Here’s what you can do to ensure your sale doesn’t fall apart because of delays.

First, make sure you have clean and organized financials ready to go. It’s a great idea to inform your accountant, financial planner, and attorney that you’re putting the business on the market and may need more time and attention from them over the next few months. If there are events or dates (like vacations) that are already planned, we’ll know that we need to work around them during the due diligence process. We can help you with a checklist of documents and information buyers are likely to need; you can request them in advance and be ready when a buyer makes a request.

We’ll also work with you to make sure you are clear on your financial and personal goals before we list your business, so you can stand firm on what you need from the sale during negotiations. Making these decisions in advance helps you respond quickly and with clarity to inquiries about changes in terms or other aspects of the sale.

Dealing with requests for information while you’re trying to run a business can be challenging, but a timely response is essential to keeping the deal moving. Being responsive builds trust, which is a key element in a buyer’s decision to make an offer. There are plenty of moving parts in the sale of a business, and every person involved in the transaction has important information to contribute. Anyone who’s holding up the process, whether it’s the franchisor, landlord, or any one of the professionals involved, could kill the deal through long delays. We’ll need your help in instilling a sense of urgency in your business associates. We promise that we’ll screen the buyer’s communications so you’re not dealing with frivolous or unnecessary requests.

After all, we’re all on the same team with the same goal: helping you get the most value from your business and working toward a fast, clean, and less stressful closing.