There are many aspects of the selling your business, but none is more important than conducting every step of the process with total confidentiality. The brokers of Praxis understand that it is crucial that your employees, customers, vendors, and lenders remain unaware of listing, marketing and selling your business. We will be glad to explain all the safeguards Praxis employs to protect the confidential nature of your transaction.
Once you have made the emotional commitment to explore the possible sale of your business and you are comfortable that the Praxis team can handle the transaction in a totally confidential environment, the next step is a valuation of your business. Praxis has proprietary software that will place a value on your business and furnish a possible closing statement that will allow you to grasp fully what you might expect at closing from the sale of your business.
The Praxis valuation is done without charge or commitment. Because Praxis gets compensated on a success fee (commission) basis, it is crucial that our sense of how the marketplace will value your business and your expectations from a sale match closely. You certainly do not want to offer your business for sale at a listing price below market expectations, and if you offer the business for a price significantly higher than the market’s perception of its value, the market will respond in kind through lack of response. We will also offer our recommendations, based on our experience with scores of successful transactions, on how best to structure a deal to achieve your goals while maximizing buyer interest in your business.
Once the listing price of your business is agreed upon, a straight forward engagement letter is executed, and we start the confidential marketing of your business. In addition to some proprietary approaches to introducing your business to qualified buyers who would not otherwise be reached, we use business opportunity websites, our own data base of prospective buyers, and discuss your business with an active group of prospective buyers with whom we work on a regular basis.
As prospective buyers express an initial interest in your business, they are required to fill out a profile to insure they are financially capable of buying your business and a two page, strongly worded confidentiality statement to make sure that you and your business are adequately protected. We then work closely with vetted prospects introducing them to you when their interest level dictates. Seller meetings often take place away from your office and site visits often occur after normal business hours.
While Praxis always represents you, the business seller, we never work against the buyer. We recognize that we only successfully complete our assignment when both the seller and buyer are excited about the transaction which will only close if the deal is a win for both parties.
Selling Your Business
We will work with you navigating the entire selling your business process from marketing your business to identifying and negotiating with financially qualified buyers, structuring an acceptable deal, managing the due diligence process, satisfying the conditions for closing and finally, helping with the ownership transition. The stakes in the sale of your business are too high to proceed without competent representation. Praxis Business Brokers is ready to manage the entire process while you concentrate on managing your business to maintain the highest value and to help insure a successful outcome of the sale of your business..