1. Consultation and Valuation

During a no-cost, no-obligation, introductory consultation, we talk with you to learn more about your business and its unique attributes. We tell you about what we do, how we do it, what it costs, and what you can expect during the process of selling a business—and of course, everything we discuss is completely confidential. Afterward, we perform a complimentary valuation, showing your business’s range of value, and we pre-screen with a lender to ensure the business valuation meets current lending guidelines.

2. Packaging and Marketing the Business

Once you engage with Tower Business Brokers, Inc., , we get to work on preparing the business for sale. We gather all necessary information into various marketing profiles that provide pertinent details on the business’s greatest differentiators and assets – without disclosing any sensitive details or names. We use that summary profile and other materials to market your business to our network of thousands of prospective buyers, as well as via internet resources (like the MLS), strategic direct mail pieces, newsletters and more. When we do this, we go to great lengths to keep the identity of your business confidential and use generic phrases to describe your business rather than its actual name.

3. Buyer Pre-Screening

Once inquiries arrive in response to our marketing efforts, we begin the process of pre-screening buyers. Pre-screening ensures that inquiring buyers are serious and financially capable of purchasing your business. We protect your confidentiality by ensuring prospective buyers sign confidentiality or Non-Disclosure Agreements (NDA), provide proof of financial capability, bio/resume, and then meet with them face-to-face (if local) to educate them on the buying process. We also present them to you for approval before we release any sensitive information to them, including your business’s name.

4. Buyer/Seller Meeting

The next step is a meeting with the prospective buyer, you (the seller), and your Tower Business Brokers, Inc. advisor. This meeting is a great chance for you to get to know the prospective buyer, to explain your business, and for the buyer to ask any questions they may have. The meeting’s discussions typically remain “high level” and related to strategy, company history, nature of the business, etc. Smaller details and fact-checking are typically handled post-offer during the due diligence phase. After the meeting, many buyers also wish to perform a more detailed pre-offer review of the business’s financials to allow them to perform a pre-offer review to arrive at a valuation to make an offer.

5. Offer for Purchase / Negotiation

When a prospective buyer decides they want to buy your business, the formalization of that is typically with an “Offer for Purchase” or “Letter of Intent” (LOI). This document outlines the details of the offer including the offered purchase price, the payment terms, the training and transition period, any required employment agreement or non-compete agreements, and any other conditions related to their offer. We meet with you to explain the offer and discuss its various components. You can then decide to accept the offer, reject it, or negotiate on certain aspects of it. We offer our expert opinion and guidance to help you make the right decision for you.

6. Due Diligence

The due diligence period occurs after accepting the buyer’s offer. Typically, they use the time prior to closing to request detailed financial statements, bank records, copies of contracts with suppliers/customers, leases, etc. The length and intensity of this period vary, usually lasting between two to six weeks. Its purpose is to verify that the business was accurately presented to the buyer, ensuring revenue and profit match expectations — buyers often overlook minor discrepancies and focus more on significant differences or unexpected surprises. Our team supports you throughout this process, securely providing information and offering assistance.

7. Closing

Once due diligence and buyer financing are complete, we proceed to draft the closing documents and finalize the sale. At Tower Business Brokers, Inc., we remain by your side throughout this process, addressing any last-minute inquiries or concerns. We recommend legal and financial experts, including attorneys and accountants, to assist with contracts, legal documents, and minimizing tax implications. Our priority is to ensure you receive your funds and possess all necessary documentation before leaving the closing table. Typically, the entire process, from offer acceptance to closing and fund receipt, spans approximately 60-75 days.