Hawaiian Islands Business Brokers: Looking to Sell a Business

TEN STEPS IN SELLING YOUR BUSINESS

1. THE CONSULTATION. At the meeting, the Hawaiian Islands Business Brokers (HIBB) Specialist will review the procedures for the sale of your company. You will be advised of all pertinent data necessary for the sale.

2. GETTING THE FACTS. Information concerning company history, financial status, and industry position will be assembled for the evaluation. Your HIBB broker will provide you with a Seller questionnaire to aid you in gathering information.

3. THE VALUATION. The size and complexity of the business will determine the degree of analysis necessary to complete the evaluation. A HIBB agent is trained in business valuation.

4. THE AGREEMENT. With your understanding of the procedures involved, you and your HIBB Specialist will execute a Listing Agreement. This document allows HIBB to proceed with the marking and sale of your business.

5. THE BUSINESS PROFILE. To properly market your business with HIBB Specialist will prepare your Business Profile or fact sheet. This is an overview, which will assist buyers understanding and evaluating your business for their investment. Included in this presentation is the history of your company, description of its facilities, financial information, service and product information, your reason for selling, the firm's overall strengths. This information is treated with strict confidentiality at all times.

6. THE MARKETING PLAN. Your HIBB Specialist will also develop and execute a customized marketing plan. After determining the appropriate market, your business will be selectively and discreetly advertised in specific publication or presented through other media such as a list of business opportunities mailed nationwide.

7. QUALIFYING BUYERS. Your HIBB Specialist will carefully screen all prospective buyers before they have access to any proprietary information about your company. A buyer's background, qualifications, experience, financial resources, and references will be examined. The buyer will also be required to sign a Confidentiality Agreement and Net Worth Statement.

8. SERVICE TO THE SELLER. A weekly verbal report will be provided to the HIBB Specialist by you via a brief telephone communication. During this phone "meeting" you will be advised of all responses regarding ad calls, interviews, tours, objections, and advertising. Included will be communication on any updated material or changes in the business.

9. STRUCTURING THE TRANSACTION. Your HIBB Specialist knows that price is only one factor in negotiating a sale. Through training and experience, this expert is fully qualified to lead these negotiations, offering assistance in such areas as creative financing, tax considerations, form acquisition and many others.

10. CLOSING. Your HIBB Specialist is experienced in closing transactions. Your specialist will work both with you and the buyer's lawyers, accountant, banker and other professionals to insure that everything is appropriate for the transition to new ownership.