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We
started our e-newsletter with the idea that it would be a
fairly non-intrusive way to stay in contact and provide
education about buying or selling a business, changes
occurring in financing, changes in tax law that are
pertinent, and occasional promotion of companies we
represent for sale (of course our website is always
available for potential buyers to view general information
on what is presently available).
Our
objective was not to be (totally) self-serving; however,
this month we thought we would promote and describe our
company. How we are different from other business brokers –
and why we believe we do a better job.
With
our firm approaching 30 years of selling Greater Cincinnati
companies, we understand the right way to prepare a business
for its sale - and the proper procedures to accomplish a
sale without employees, customers or competitors finding
out.
We try
to take the extra step which sets us apart. We provide a
written valuation so that the seller can get a good
understanding of the range of value that can likely be
achieved upon a sale. We follow strict procedures to
maintain confidentiality. We utilize over 90 different
national, regional and local websites to attract buyers. We
assist the buyer in obtaining financing once a deal has been
agreed upon. We coordinate due diligence and closing with
the seller, the buyer, their attorneys and accountants, and
the bank.
Accurate information is important. We perform preliminary
due diligence to make sure the information (we call a
“Confidential Business Review” – a “CBR”) that is provided
to buyers is accurate. This information package allows
buyers to fully understand and analyze the business. This
reduces the seller’s time required in the complete process
of selling his or her business to usually 10-20 hours. The
buyer appreciates the CBR because it allows a quick decision
of whether the business fits his parameters and needs.
It is
important to emphasize that buyers only receive generic
information on a business until they have satisfied
disclosure requirements and been approved to receive the
“CBR”. Maintaining confidentiality is one of our key
strengths.
While
we receive compliments from sellers, buyers, and bankers all
the time on our procedures and documentation, a recent
unsolicited paragraph in a letter (and offer) from a buyer
possibly says it all:
“
First, I would like to compliment you on having such a
professional package to provide to potential buyers. I look
at many businesses each month. Rarely have I received a
package as clear and all inclusive as yours. Your package
gave me all of the data I needed to make a decision. I can
honestly say this is a first. I usually have to ask many
questions of the seller/broker.”
Letter available upon request
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