Business Exits Review

By: Catherina Davey     Topics: Entrepreneurship

As a business owner, there comes a time when you have had enough share of your business, and you’re considering selling it.

Selling a business is not a straightforward process as it sounds because it entails legal, capital, and other requirements that must be met for the transition to occur with fewer obstacles and less time.

That’s where a business broker comes in to give a helping hand to business owners looking to sell and have an exit strategy of their business.

Here are some reasons you may want to sell your business:

• Business value
• Tired of risk
• Time for change

Choosing the right broker like Business Exits allows you to maximize your company’s sales price as you plan to retire or even fund your next venture. A wrong broker can leave your business on the market and not sold for months or years.

Keep on reading to find out why we think Business Exits is the #1 broker for large deals.

What is Business Exits?

Business Exits is a brokerage company founded by Jock Purtle, an entrepreneur, specializing in buying/selling and appraising many online businesses. Jock has been featured in Forbes, Inc 500, Entrepreneur, Business Insider, CNBC, and many others.

The company has experts who specialize in the sale of businesses with revenue between $2 million to $20 million, and $500,000 to $5 million in yearly profit across the USA.

Are you looking to sell your business at a price above market value? Let our experts at Business Exists, help you maximize the value of your business with a 96% close rate.

You can start by getting a valuation to know the worth of your business.

Why Choose Business Exits?

Business Exits provides the most efficient way for you to buy or sell companies across the USA, and it’s our #1 broker for large deals.

Let’s take you through some of the reasons you need to choose Business Exits over any other option.

• We have an in-depth “x-factor” entrepreneur experience at your disposal.
• You get appraisal resources that you can take advantage of to get a realistic estimate of how much you can sell your business for.
• We help buyers maximize their investments by finding businesses that are uniquely suited to them.
• Currently, we have a serious buyer pool with $568.27 million in cash ready for acquisitions.
• You can provide your business with access to buyers in the USA and worldwide by working with Business Exits.

How Does Business Exits Work?

Business Exits ensure that you align with a few key drivers of value in the market place to get the most money by finding the best buyers that will offer the best price for your business.

Here are the steps on how it works towards the sale of your business.

1. Valuation 

Start by submitting your company valuation that includes the past 2 years of tax returns, most recent year profit, loss statement, and balance sheet. An experienced broker will call and provide you with the price range of your business if sold today from the valuation.

2. Agency Agreement

You’re then provided with an agreement that entails how much of the commission (%) we get after closing the deal. You’ll also know our role or responsibilities in acting on behalf of your company.

3. Develop the Prospectus

After signing the agreement, we move to create a 15-30-page document that we use as your business prospectus. It involves information gathering, copywriter interview, and bank financing to come up with a prospectus that makes your business look attractive to buyers.

4. Find Potential Buyers

We now place your business deal on the market by sending it to our buyer database, marketing channels, and directly looking for synergistic buyers. We get to answer all buyers’ inquiries, and those we can’t answer will be redirected to you, as the business owner, to talk to or answer a potential buyer.

5. Price Negotiations

Once there are interested parties, we help you in price negotiations with the buyer of your choice until a final agreed amount is set. You can now accept the offer.

6. Due Diligence

An interested buyer is given enough time to verify financials and other business claims provided by us while acting on your behalf as the business owner.

7. Transfer of Assets and Money

It’s time for contract development, and it involves the transfer of assets and release of money in escrow – either a lawyer or escrow company. The seller and the buyer can use a lawyer’s services, and we also advise accordingly until the finalization of the transfer of assets and money, respectively. This is the stage where we get paid for our brokerage services.

8. Post Sales Training

The last step involves the transition period of helping the new buyer learn about the business, such as suppliers, employees, etc. Buyer training is agreed upon by both the seller and the buyer before a deal is closed. It involves knowing exactly what is needed and how much time it will take for a complete transition.

Main Takeaways

Business Exits has pros (what we like) and few cons (what we don’t like) that distinguish it from other business brokerage services on the market today.

Let’s take a closer look at a few of them.

Pros

• They have handled over $100 million in deals closed.
• They ensure to create a detailed marketing plan that suits your business the best.
• 100% confidential with an attractive executive summary for your business.
• No upfront fees.
• Access to multiple offers from our pool of potential buyers.
• They manage the entire deal flow and all the paperwork involved.
• They provide after-sales support.
• From their website, you can access closed deals, businesses for sale, and testimonials.

Cons

• Not ideal for a business under $300,000 in yearly profit.
• The time frame depends on the owner’s preferences and the willingness of a potential buyer.

Conclusion

Avoid all the hassles and the tricky transitions involved when selling your business by working with Business Exits, our #1 broker for large deals between $1 to $25 million revenue-generating companies across the USA.