BUSINESS MARKETING SUCCESS PROCESS
Upon signing of the Marketing Agreement (Exclusive Right to Sell) and completion of the required evaluation, the following process takes place.
We review the business and produces a full business evaluation using tax returns, actual asset appraisal data provided by the client, comparable industry operating and financial data and information on comparable sales.
This document belongs to the client and is only used in final negotiations with the buyer and their advisors when the offering is below our opinion of value.
We complete an on site business review to develop an understanding of your business and its vital components. This review is a form of due diligence and is designed to answer most of the questions normally asked by a buyer. The purpose of the review is to:
– Provide information to complete our detailed descriptive report.
– Address and resolve issues that can cause problems with buyers downstream.
– Provide file data for the beginning of a business plan for the new buyer.
– Provide data for banking presentations by the buyer.
– Eliminate the exposure of our client to a large number of buyers. Only buyers who are prepared and able to proceed with a purchase are introduced to the client.
This one page document describes the business in generic terms and is carefully written so the specific business is not identified. The advantage of this document is that it can be widely distributed without the risk of breach of confidentiality. It is distributed to our professional database of accountants, lawyers and bankers as well as to our registered buyers.
This document is a detailed description of the business including history, trends, opportunities forgrowth, location and financial information. The bulletin is only given to qualified buyers and is designed to give them enough information to determine if there is an interest in owning the business. A strong interest will usually lead to a business tour / meeting with the owner.
After completing the foregoing, we develop a comprehensive action plan for marketing each business. This includes a likely buyer description and a 3-6 month plan to attract buyers. The plan includes various marketing steps to be taken for each particular business based upon the type of business and our feeling as to the likely buyer profile.
Marketing Documentation Review
After all the above is completed, we will internally review all documents for errors and/or omissions. After the internal review, the documents are reviewed and approved by the client for accuracy of content.
It is important to stress that the client is in control of the entire process. The client must review and approve what is said about the company and to whom it is disclosed. The client may exclude any person or company from receiving the information package.
The Selling Process
Business Marketing Services’ selling process is designed to find the right buyer for the business who is both financially and occupationally qualified, while maintaining strict confidentiality. As a part of the process we will:
Thoroughly qualify, screen and educate all prospective buyers to minimize unnecessary exposure and disruption of the business. Prepare well qualified buyers with a step by step understanding of the basics of buying a business to instill the confidence to proceed to final purchase.
Provide Selective Regional and National Advertising
WE market on a regional basis through local publications and strategic alliances with a select group of professional business brokers. National exposure is provided through our own Web page and by our membership in several recognized national business opportunity sites on the Internet.
Assist Buyers with Due Diligence and Offer to Purchase
Assist the buyer with the preparation of a detailed business plan and financial proposal to obtain financing. Introduce the buyer to appropriate banks, SBA lenders, CPAs and attorneys who have relevant experience with business transactions.
Manage the Closing
Negotiate the terms and conditions of the sale. Coordinate all aspects of the closing process with lawyers and accountants to ensure a trouble free transfer of ownership.
The Business Marketing Services, Inc. Philosophy
BMS, Inc. operates on the premise that there can be no losers in the successful sale of a privately held business. Both parties to the transaction must be satisfied after the transaction is complete. To achieve this we take care to insure that all businesses are priced fairly and that we have a sound understanding of every business we represent. We will not knowingly misrepresent a business or encourage a buyer to underbid our clients price.
Our goal at BMS, Inc. is to sell successful business to qualified buyers.