Why Choose Praxis Business Brokers?
The business brokers at Praxis bring professionalism and a history of success to business transactions. Providing experienced counsel, Praxis brokers help sellers and buyers navigate a business sale's requisite activities and details. In short, our brokers guide all aspects of the selling process. With over 100 successful closings, we encourage you to peruse a partial display of our tombstones which can be accessed on a drop menu elsewhere on our website. And with so many successful transactions, we can furnish prospective clients with a comprehensive reference list of dozens of business sellers and professional advisors who have seen our team in action or benefitted firsthand from our knowledge and professionalism.
Praxis intermediaries understand the importance of maintaining a positive and transparent relationship between seller and buyer during what, unfortunately, can become a long and stressful trip between the first meeting of seller and buyer and the consummation of the sale at the closing table. Additionally, Praxis brokers take great care throughout the process to ensure that strict confidentiality is maintained, thus avoiding the possibility of employees, customers, vendors, bankers, and/or competitors learning prematurely of the contemplated transaction.
Finally, Praxis Business Brokers can provide sellers, and buyers access to experienced legal, financial, funding, and tax planning resources through its trusted network of knowledgeable, professional advisors.
Selling Your Business
There are many aspects of selling your business, but none is more important than conducting every step of the process with total confidentiality. The brokers of Praxis understand that your employees, customers, vendors, and lenders must 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 exploring the possible sale of your business and are comfortable that the Praxis team can handle the transaction in a 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 fully grasp what you might expect at closing from the sale of your business.
The Praxis valuation is without charge or commitment. Because Praxis gets compensated on a success fee (commission) basis, our sense of how the marketplace will value your business and your expectations from a sale must match closely. You certainly do not want to offer your business for sale at a listing price below market expectations, and if you provide the business for a price significantly higher than the market's perception of its value, the market will respond in kind through a lack of response. Based on our experience with scores of successful transactions, we will also offer our recommendations 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 straightforward 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 and our database of prospective buyers and discuss your business with an active group of prospective buyers with whom we work regularly.
As prospective buyers express an initial interest in your business, they must fill out a profile to ensure they are financially capable of buying your business and a two-page, strongly worded confidentiality statement to ensure 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 regular business hours.
While Praxis always represents you, the business seller, we never work against the buyer. We recognize that we only complete our assignment when the seller and buyer are excited about the transaction, which will only close if the deal is a win for both parties.
We will work with you to navigate 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 ensure a successful outcome of the sale of your business.
Buying a Business
Whether you are (a) buying a business as a first-time business buyer; (b) looking for another business to purchase; or (c) a strategic buyer looking for a particular business, the brokers at Praxis can help.
Combining our published, exclusive business listings, our exclusive, unpublished listed businesses, and our proprietary method of locating specific business opportunities means that Praxis Business Brokers can find your ideal business.
When we locate a business opportunity that appeals to you as a prospective buyer, we will work with you so that you understand the business and its financial statements. We will also assist you in learning about the industry in which the business operates. We will walk you through the business valuation process so that you understand how the listing price was determined. All contact and communication will be done with total transparency while protecting the confidential nature of the contemplated business transaction.
When you are ready, we will introduce you to the owner/seller of the business and take you through the operation. We will be glad to introduce you to appropriate professionals, such as CPAs, lawyers, bankers, retirement rollover specialists, and the like, who can help ensure that the business opportunity is right for you.
As you proceed through the initial stages of buying a business, we will discuss prospective deal terms that will be attractive to you and acceptable to the seller and prospective lenders. Then, once a letter of intent is executed and in place, we will help you as you go through the due diligence stage, and we will ensure that all contingencies in the letter of intent are satisfied. In short, we will work with you at every step, from introducing you to the business opportunity to the closing table and beyond as the business transitions to your new ownership.
There are instances in which the sale of a business through Praxis will yield a lower value to the seller. Due to circumstances often associated with a negative cash flow, vendor pressure, bank demands, and the like, a seller needs individualized treatment from professionals experienced in managing corporate liabilities and maximizing the yield from corporate assets.
Our network of liability managers includes restructuring attorneys, commercial real estate brokers, equipment auctioneers, and well-connected used machinery brokers. Often, one or more of such professionals can maximize the liquidation of your assets while negotiating a favorable settlement with both secured and unsecured vendors/lenders.
For more information on this specialized service of Praxis, please use the contact us page to tell us a little about your specific situation. A Praxis team member will be in touch with you shortly.