What to Know Before You Sell
Now that you’ve decided to sell your business, think about the type of buyer you would want, what type of sale (partial or whole), and whether you would like to stay on or leave. For smaller business, some of these answers are dictated by the SBA, since they guarantee most of the bank’s loan to your buyer and dictate certain rules. For larger businesses, you will have a plethora of choices. If there are competitors in the area that may want to buy your business, it’s possible to consider a merger or outright sale. If you’ve spent years building the business and want it placed in good hands, it’s possible to find a buyer who will care for your business and your employees, as you did over the years. This way, the business can continue to thrive. If you simply want to retire with as much money as possible, finding a buyer who is willing to pay more may be important. Since most buyers are simply unwilling to drop a bag of cash at your feet and let you walk away, the terms will be very important, as well. Once you have an idea of what you’re looking for in a buyer, we can help you find the buyer (or multiple buyers in most cases) and get a fair price and great terms for your business.
Finding A Fair Value For Your Business
Before the business is presented to buyers, a business valuation needs to be done, and done well. This is a way of determining the correct price, so you have a good chance of getting a fair amount for the business, and so you’re able to attract more buyers. Our expert Dallas business brokers can handle the business valuation for you, so you know it’s done right. We have years of experience working with businesses just like yours, so we know how to do a business valuation and how to determine the correct asking price for any business. Be careful! This is where many Dallas business brokers go astray. They give the business owner a fanciful valuation, as a way to get their business, knowing full well this value will never come to fruition. Not to toot our own horn, but we literally have some of the best credentials and expertise in the country. We’ll also show you exactly how we arrived at that price and provide backup evidence. You’ll be in good hands.
Finding Prospective Buyers
Now that you know how much the business is worth, it’s time to start looking for buyers. This can be one of the hardest parts of selling a business, but we can help. You may even have your own buyer. The problem is, it’s hard to get the best deal when you only have one buyer. We know where to look for local, national, and international buyers, and we have connections to buyers throughout the world who may be looking to buy a business like yours. We’ll use your preferences for what you want in a buyer, then search through all of the potential options to find buyers who are likely to fit what you’re looking for and have the finances to purchase your business. They will also sign a non-disclosure agreement (NDA) before they find out any information about your business.
Working Through the Sales Process
After creating the marketing materials and creating the buyer list, hopefully, we find multiple buyers. Then, it’s time to put the deal together and sell the business. Typically, the buyer will make an offer in the form of a Letter of Intent (LOI), which outlines some of the most fundamental prices, conditions and terms about the deal. You’ll have time to review this with us and your M&A attorney. Don’t have a mergers and acquisitions attorney? That’s no problem, we have a close-knit circle of them. While many M&A attorneys are simply out to cause arguments, and run up the billable hours, and possibly kill your deal, the attorneys we work with will get your deal done (and usually, for less than your current business attorney). Then, if you like the offer, we’ll work with banking, legal, and accounting so that the closing can occur. Once the check has cleared, we will celebrate, along with the new owners of your business.
There are many types of sales for businesses including an outright sale, a merger, recapitalization, or an acquisition, and each can have benefits or disadvantages. We make sure to choose the right type of sale based on your preferences, as well as what the buyer needs or prefers. This way, it will be more likely you’ll find the right buyer, and the sale can close quickly. No matter which methodology you choose to sell the business, we will work with you through the sales process and make sure you get a fair value and great terms for your business.
Ready to Buy?
Along with helping sellers, we also help business buyers. Our preferred type of buyer is already a business owner and is looking to buy a competitor or one of their suppliers. But, if you’re looking to be your own boss and purchase a business for the first time, our team of expert Dallas business brokers can help. We’ll talk with you to learn more about your previous experience, as this will be important for the bank, what type of business you’re looking for, and more. Then, we’ll run a proprietary search and find something that matches your tastes and previous experience. All of this will be within your particular budget. We make it easy for you to find a business to purchase, no matter how much experience you have or what type of business you want to buy.
Working With CGK
You have a choice of Dallas business brokers to work with, so you’ll likely want to work with the best. After all, you want to make sure your sale is done right and that you get what you need from the sale of your business. That’s our offer to you. We have years of experience in Dallas and Fort Worth, as well as connections with buyers who may be looking for a business like yours. We have an excellent record of being able to close our deals, as well as the ability to sell businesses for outstanding prices, while still getting outstanding terms, all while finding the right buyer for your business. When you contact us, you will see how we are different from the other Dallas business brokerages.
We Are The Dallas Business Brokers
If you’re ready to sell, you’ll want to work with a business broker who knows the area. Our team lives and works in Dallas, so we know Dallas and Fort Worth well. We also know the business market in Dallas. We understand the market, so we know what sellers are looking for and what buyers might want. We have the experience needed to close deals and to make sure the sale is done right, so you have nothing to worry about once your business is sold.
Are you thinking about selling your business? Whether you’re looking to retire or you want to try something new, our team can help. CGK has an excellent track record when it comes to business sales, and we’re ready to sell your business as well. We can even help you find a new one to purchase. Contact us today to learn more about what we can do for you.
CGK Business Sales are the expert Dallas business brokers and merger and acquisition advisors in the Dallas and Fort Worth markets. More than any of the usual Dallas business brokers, we actually sell businesses. We don’t just list them. Our backgrounds are unmatched at this segment of the M&A industry. We have experience on Wall Street, middle-market mergers and acquisitions, private equity, hedge funds, business brokerage, entrepreneurship, and institutional trading. CGK Business Sales’ team of M&A advisors brings the necessary skills to do the job right.
Selling your business will likely be one of the largest financial transactions in your life. Can you trust this event to those with inferior financial skills, track records, educations, or credentials?
If you were sick, you would want the best doctor. If you were being sued, you’d want the best attorney. Why would you want anything less than the best M&A advisors to sell your DFW business?
CGK Business Sales’ record of selling businesses for outstanding prices and finding good buyers to continue your business’ legacy are the foundations of our business.
We know Dallas
We’ve been around the DFW block. We’re best buddies with Big Tex at the State Fair, and they know us at the door at Gilley’s. We’ve taken a spin around Reunion Tower, and spent days in the hip spots of Deep Ellum. From Farmer’s Branch to Fort Worth, and Waxahachie to Denton, we’ve seen it all in Big D. So we know Dallas.
But even more, we know Dallas businesses. We know the Dallas and Fort Worth market backwards and forwards. We know what sellers need and what buyers want. We can close a sale right. Contact us today to start a confidential, no obligation conversation.
What They’re Saying
Ironically enough, I wound up not being the right fit for CGK, but my interactions with Greg and his level of care, insight, and recommendations were so commendable that I wanted to leave a review. Initially, I reached out via the website regarding my family's business and to discuss a valuation and potential sale. I received an email back within 24 hours and was contacted by Greg shortly thereafter. We discussed the situation in detail, and even after learning I wasn't the right fit for CGK, he took the time and care to give me his insight and recommendations on next steps and who to reach out to. That's someone who truly cares about small businesses, and who I look forward to doing business with in the future.Kara Karnovsky
Greg got back to me within a few minutes of my inquiry. The information he provided was insightful and enabled me to move forward.Todd Wall
Greg Knox, CFA has spent his 20+ year career in investment banking, private equity, a hedge fund, and institutional trading, at institutions as Deutsche Bank, T. Rowe Price, and Wachovia. After his MBA at Cornell... (click Greg's picture to read more)
Derik Polay has over twenty years of experience in distressed securities and mergers and acquisitions and seven-plus years of upper-management positions at small and middle-market businesses. Derik’s previous ... (click Derik's picture to read more)
Eric Lewis has over 17 years of experience in the financial industry. He has worked for a breadth of companies ranging from investment banks to proprietary trading firms. Following his MBA at the University of Chicago, Eric... (click Eric's picture to read more)
Jason Clendaniel has been in “business” since he was seven years old. Whether mowing lawns, or delivering papers, Jason learned business from the ground up. After graduating from the United States Naval Academy... (click Jason's picture to read more)
Matthew Mistica has 13+ years of experience in finance and entrepreneurship. Matthew spent 7 years in Corporate Finance working for Chevron and Shell Oil. After his MBA at the University of Houston ... (click Matthew's picture to read more)
Wes McDonough has over 18 years of experience in both entrepreneurship and corporate finance. Previous to CGK, Wes held numerous positions, including accounting, payroll, billing, project management, and IT/Application Support at ... (click Wes' picture to read more)
Matthew Zienty has 20+ years of financial industry experience in areas ranging from institutional equity trading, currency trading, financial sales, RIA valuations, payout/loan negotiations & compliance. He has worked for ... (click Matthew's picture to read more)
David Smoot has 20 successful years working for Fortune 500 companies in sales and finance and owning his own small businesses. His leadership roles included sales, finance, managing multi-million dollar product launches, training new ... (click David's picture to read more)
Mr. Thomas “Jay” Lennon is an Air Force veteran, combat aviator, and distinguished leader with 26 years’ experience leading multi-million dollar projects, finance, and organizational transitions, inside and outside of the government.... (click Jay's picture to read more)
Lance Hupfeld has over 25 years of experience in sales and business development management. With a broad array of valuable experience, Lance has deep knowledge in healthcare consulting... (click Lance's picture to read more)