The Ultimate Guide to the Business Sale Process

Selling your business in Kansas or Missouri can be a daunting task, but it doesn't have to be. With the right process and expert team in place, you can confidently navigate the sale from start to finish. At O’Keeffe & O’Malley, we specialize in business brokerage and offer a customized three-phased sales approach tailored to meet the unique needs of each business, while maximizing its value. In this blog post, we will provide a high-level overview of our process to help you understand what to expect when selling your business.

Phase 1: Prepare to Sell
Before going to market, it's crucial to properly prepare your business for sale. During this phase, our experienced team will work closely with you to set goals, establish a comprehensive business valuation, and develop strategies to maximize the value of your business. We will also create effective sales materials, including a compelling Business Teaser and a Confidential Information Memorandum, while finalizing a Buyer Marketing Strategy for your approval.

Phase 2: Go-to-Market
Once we have prepared your Kansas City business for sale, we will initiate outreach to potential buyers. The duration of this phase can vary depending on the complexity of the sale and current market conditions, typically ranging from one to six months. Our priority is to maintain confidentiality by targeting individual buyers, strategic buyers, and private equity groups. Qualified buyers will sign a Non-Disclosure Agreement, review the Confidential Information Memorandum, and engage with our team to gain insight into your business's operations and potential. We will then arrange meetings between pre-approved O&O (Owner & Operator) buyers and the seller for a business tour. Interested buyers will submit a Letter of Intent (LOI), which we will negotiate and accept on your behalf.

Phase 3: Close & Exit
The final phase of the sales process involves closing the deal and smoothly transitioning your business to the new owner. The duration of this phase is typically between three to four months. Our team will assist in structuring the deal, while the buyer leads the due diligence process and secures financing for the purchase. A Purchase Agreement will be prepared and negotiated by legal counsel, ensuring a secure and fair transaction for both parties. Once everything is approved, the deal will close, and you, as the seller, will receive payment. Finally, the buyer will be onboarded, and the seller completes their exit upon the conclusion of the transition period.

At O’Keeffe & O’Malley, we take pride in our meticulous attention to detail, providing a smooth and transparent sales process for Kansas City business owners. Contact our team ([email protected]) today to learn how we can leverage our expertise and maximize the value of your business while ensuring your peace of mind.