Selling a Business


Selling a business is a significant event in the owner’s life.  The success of this depends on planning and selecting a professional advisor to manage this process. The steps in the sale of a business can be broadly outlined as follows:

Assessment and Valuation

We perform a diagnostic review of your business and identify what can be done to increase the value of the business to help maximize the sales price.

We prepare a Broker Opinion of Value on your business. Our pricing analysis relates to real-world buyer-specific return on investment criteria and the buyer’s ability to finance the transaction.

Putting a value on a business is far more difficult and complex than a house. Every business is different, with several variables that have an impact on the value. We also have access to business transaction databases that can be used as guidelines or reference points. However, the best way for a seller to truly feel comfortable that he has achieved a fair price is to have several financially viable parties bidding for the business, which is much more likely using the resources of a professional business broker.


The marketing plan includes advertising confidentially in a manner you approve and may also include targeted “reach outs” using a blind profile sent to potential buyers describing the company without revealing its identity.


Develop a one-page summary of the business and a separate Confidential Business Review Memorandum. The summary can be used as part of the confidential communication of the opportunity. The Confidential Information Memorandum is developed to provide the potential buyer with all relevant information about the opportunity and should serve as a starting point for validation in the buyer’s due diligence.

Development of the Buyer List and Outreach

There are several different kinds of buyers or inquirers and many may never qualify as buyers at all. The broker’s responsibility is to cull through the various “interested parties” and help the seller find the best candidate to buy the business.


Preparation for meetings with the buyer. This is an important step because the successful transaction will likely need to have some level of knowledge transfer. In addition, if the best solution to execute the transaction includes seller financing, the seller needs to be comfortable that the buyer can execute the plan and support the financed portion of the business. In this regard, the buyer and the seller are truly interviewing each other.

SECURE AN OFFER (Letter of Intent)

If the parties want to proceed, the broker secures an offer, works the offer to an acceptable result for both parties, helps resolve contingencies and monitors the due diligence efforts.

EXECUTE ON Due Diligence and CLOSING

These are services well worth understanding further and if you are genuinely interested in selling your business, it is time that you give us a call.

NorthBridge Business Advisors

Execution with Integrity

Phone: 973-210-3040973-210-3040