10 STAGE PROCESS.

CONSULTATION:
We offer a complimentary, no obligation consultation to learn more about your business, your goals and outline a strategy to help you meet them.

FINANCIAL and OPERATIONAL REVIEW:
We will collect and compile a summary analysis of the financial statements, contracts, customer/supplier agreements, leases, loans, and all other obligations that will impact future business profitability. We will also spend time learning the history and operational components of your business. Every business has a story and all of this information is necessary for the Business Valuation.

BUSINESS VALUATION:
Valuation refers to the process of determining the present value of a company or an asset. It entails the review of the management of the business, the past, present and prospective future earnings, the market value of the company’s assets, risk and other intangible attributes. Often there's a level of emotional attachment to your business. It's "your baby" after all. It will be important to set your personal feelings aside and obtain a unbiased Business Valuation to establish a realistic fair market selling price prior to going to market. We have the professional experience to guide you through the financial review and prepare you for the process.

LENDER PRE-APPROVAL:
Selling a business takes time. An important part of the process is to pre-qualify the business for a loan prior to being launched on the market. The process can be delayed significantly if buyers don't go to the right financial institution/lender. Time kills deals. Next Phase Business Advisors will have your business Pre-approved with several lenders to ensure forward momentum.

GO TO MARKET - LIVE LAUNCH:
After a thorough review of your business we will begin the preparation of marketing materials/ Teaser/ Confidential Offering Memorandum/ Website advertising and email campaign. We pride ourselves on being exceedingly prepared to answer the vast amount of questions that buyers and their advisors typically ask, so you can stay focused on running your business.

SCREEN BUYERS:
The screening and qualifying of potential buyers before the business’ identity and financial reports are disclosed is vital. When buyer prospects are screened and qualified before they know about your business, it protects you, the business seller, from needless disclosure of information that should remain confidential and saves a tremendous amount of valuable time. All buyers are required to fill out a Nondisclosure Agreement and Buyer Profile prior to the beginning of discussions about your business.

GENERATE OFFER:
We will work with the buyer to obtain a written offer with an earnest deposit and ensure that the offer contains the necessary language such as Purchase Price, Down Payment, Terms and conditions on the balance due (cash and/or outside financing, monthly payments, amount and duration, date payments commence, etc.), Lease terms and conditions (if applicable), Covenant Not to Compete, Transition Agreement, Contingencies and more.

NEGOTIATION:
Next Phase Business Advisors is highly skilled at the negotiation process. We help both parties stay focused on the ultimate goal and smooth any challenges that may arise. The negotiation of an agreement between a buyer and seller occurs on multiple levels. The first level of negotiations involves the sale price and terms for the transaction. We pride ourselves on our ability to achieve our client’s goals. Our negotiating skills and transactional knowledge also greatly benefit our clients in our ability to negotiate favorable secondary transaction components like post transaction transition period training/consulting and/or employment contracts, non competition agreements, tax allocation, etc.

COORDINATE DUE DILIGENCE:
This process involves providing a prospective buyer with the information they need to satisfy their inquiries and to evaluate the business. There are a number of categories for which a seller will need to collect information early in the transaction process. Next Phase Business Advisors will assist you through the process and relay the information to the buyer, so you can remain focused on your business. The nature of the due diligence process will vary depending on the industry and the buyer. Generally, the common categories include the following:

• Organizational information – formation or incorporation documents, bylaws or operating agreements, agreements between owners of the equity interests, up-to-date board minutes, etc.
• Financial records – income statements, balance sheets, annual reports, audit reports, tax returns.
• Contracts – customer contracts, supply/vendor agreements, service agreements, loan and financing agreements, insurance policies, employment contracts, consulting agreements, marketing and advertising agreements.
• Employment and labor – information regarding employees, title, date of hire, wages, benefits, bonus compensation, vacation, sick time, company policies, handbooks, organizational chart.
• Intellectual property – documentation related to trade names, copyrights, trademarks, or patents owned by the company.
• Regulatory matters and litigation – permits, copies of pleadings in pending litigation, threatened litigation or notices of violations of any laws, industry and operational licenses owned by the company or key employees, insurance and workers compensation claims.