How to Sell a Business - The 4 Guided Steps

ExitAdviser has simplified the overall process of selling a business down to a four stage undertaking:

#1: Checking the Status

Prior to deciding about the sale, you will run a status check to determine how "sellable" your business is, so you can set the course of actions accordingly.

  •   Are you ready to sell?
  •   Is the timing right?
  •   Is your company well-prepared?

#2: Preparing for Sale

Here's where the key online tools on ExitAdviser play an important role.

  •   The Business Valuation Tool uses the tried-and-tested Discounted Cash Flow method to come up with an objective, earnings-based approach to business valuation, helping you to defend your Asking Price with prospective buyers.

  •   In parallel, the Sales Memorandum Tool brings attention to the key information that serious buyers will want to know.

  •   Next, with the Go-to-Market Tool, you will prepare your ad to hit the market.

#3: Going to Market

ExitAdviser gets your offer in front of buyers with the Go-to-Market Tool. It launches your advertising campaign on Google, which will lead prospects to your listing's landing page.

A business-for-sale sale advert on Google

Almost every purchase today begins with a search on the internet, and the shoppers looking to buy a business are any different.

Getting your offer direct to market

#4: Closing the Deal

Joseph Blygges, a former business owner

Joseph Blygges, a former business owner

Getting your paperwork ready

ExitAdviser provides you a full collection of legal forms and templates to download.

You'll require a commitment in principle from the buyer, typically a Letter of Intent. Following due diligence and detailed negotiations, obtaining signatures on a Business Sale Agreement is the target outcome for both parties.

At the closing stage, it's the detail that counts. It is advisable to use the services of an attorney.

Total time: up to 12 months.

Supplies: a computer, tablet, or smartphone with internet connection.

Frequently Asked Questions

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Learn more: Selling Your Business Step-by-Step — Scheduling the Tasks