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The Coffey | Owens 9 Step Selling Process

Step 1 - Initial Meeting with Business Owner

  • Explain importance of confidentiality.
  • Opportunity for our group to find out more about your business goals and selling objectives, and for you to find our more about our backgrounds, our services and our process.
  • Gather information from financial statements for free “opinion of value”.
  • Preliminary Estimate of Value is completed 14 business days from the date that all financial and lease information is received.

Step 2 - Presenting Realistic Range of Value

  • Explanation of Preliminary Estimate of Value.
  • Does selling make sense for you and your business?
  • Sell/hold timing analysis.
  • Finalize asking price with owner (Buyers and lenders must have a justification before buying or lending.)

Step 3 - Representation & Discovery

  • Exclusive Listing Agreement completed.
  • Pre-Discovery process begins and the first stages completed in 7 days with owner.
  • Confidential Business Report is completed 14 days after receiving discovery information from the owner.

Step 4 - Representation & Discovery

  • Create 60- Day Action Marketing Time Line.
  • Develop customized selling strategies. (See sample Marketing Plan)
  • Identify targeted industry resources.
  • Customized 60-day Marketing Plan Activated; Business is now on the market
  • Goal is 3-4 offers.

Step 5 - Screening & Qualification of Buyers

  • Field all inquires in a confidential manner.
  • Collect all data required in Coffey Owens Group Buyer Process, including signed Confidentiality •
  • Agreement. (See Buyer Process)
  • Screen and financially qualify the buyers, in order to determine buyer’s capability to purchase and operate the business of interest.
  • Verify Buyers initiation of lending process.
  • On-going communications with the owner.
  • Coffey Owens Group approves, arranges and attends all buyer/seller meetings.

Step 6 - Scheduling and Conducting Seller & Buyer Meetings

  • Business owner sells potential buyer on the merits of the business to the buyer.
  • Buyer sells owner on his ability to run the business as well as his financial stability to motivate the seller to extend credit to him.
  • Chemistry is essential.
  • We meet with seller for feedback on the initial meeting with the buyer. Provided that the feedback is favorable, we will communicate with the buyer to initiate the next step.

Step 7 - Reviewing Offers to Purchase / Negotiations

  • Provide direction for the buyer to create an offer to purchase or letter of intent.
  • Letter of intent signed and earnest money deposited.
  • All documents necessary for the final deal package are created and/or collected by Coffey Owens Group for loan submission.
  • Lender submits deal package to underwriting for approval.
  • Coordinate Offer to Purchase/Letter of Intent with #1 Offer
  • Keep Offers #2 and #3 alive in the Bull Pen.
  • Seller and buyer agree on price and terms.
  • Coordinate on-going communications with buyers/lenders.
  • Coffey Owens Group works with the closing attorney to create all the legal documents necessary to complete the transaction.
  • We coordinate due diligence with CPAs. (2-3 weeks)

Step 8 - Coordinate Closing

  • Work closely with business owner’s CPA in areas of deal structuring/tax considerations.
  • Follow Closing Checklist. (Closing Checklist attached)
  • Instruct each party on what will be needed from them at closing.
  • Orchestrate all participants to the closing table.
  • Guide the closing process, addressing any last minute concerns or issues.

Step 9 - Provide Transition Follow-up

  • We believe that the greatest strength about our services is in the quality of follow through and successful outcomes.
  • We are compensated in 2 ways: a success fee and referrals.
  • We hope that you will tell your friends and peers about the Coffey Owens Group.