Pre-Engagement: Engagement, Valuation and Preparation Stages
- Initial Meeting
- Preliminary Due Diligence & Valuation by LCA
- Proposal
- Engagement Paperwork
- Research & Marketing Package
- Virtual Dataroom
Initial Meeting
Selling your business can be one of the most impactful events of your life. It is important that you make sure you feel comfortable with Lake Country Advisors. to help you sell your business.
Preliminary Due Diligence & Valuation by LCA
One of our differentiators on how we do business is that we require a significant amount of information up front for us to perform due diligence on a potential Seller as well as determine an accurate valuation of your business.
Proposal
Once we have established a comfort level and believe LCA is a great fit to work in your best interest to help you sell your business, we will provide you with a proposal regarding the cost of our services.
Engagement Paperwork
There is a significant amount of paperwork that we request from a seller in order to list your engagement, create the Offering Memorandum, as well as be prepared to answer any questions a buyer may have on your business.
Research & Marketing Package
The Marketing Package on your company is one of the most important documents we create in order to help sell your business. This may even include industry research depending on the type of sale.
Virtual Dataroom
Important due diligence documents regarding your business are placed in a virtual dataroom. When it is appropriate father along the process, a vetted buyer will receive access to the information.
Engagement: Marketing, Offering and Closing Stages
- Launch Engagement
- Qualification & Vetting Buyers
- Discussions & Showings with Prospective Buyers
- Offers & LOIs
- Negotiations & Deal Structure
- Buyer Due Diligence
- Accepted Offer
- APA & Documents
- Closing
Launch Engagement
Your Engagement is live! We spend an extensive amount of resources advertising your business online, as well as to our 20,000 database of vetted buyers looking to purchase a business.
Qualification & Vetting Buyers
Once your Engagement is live, buyers will start inquiring. LCA requires a Non-Disclosure Agreement prior to releasing any confidential information on your business. During this process we also financially qualify and vet buyers. It take 39 buyers to find one qualified buyer for your business.
Discussions & Showings with Prospective Buyers
Qualified buyers are ready to have conference calls with the Advisors in our office. If we feel there is a good fit for your business, we will schedule a conference call with the Buyer and Seller, or perhaps a showing.
Offers & LOIs
The ideal situation would be to create an auction environment for your business – almost a bidding war. LCA will help you evaluate your offers and LOI’s to help you make an informed decision so you can decide what is best for you.
Negotiations & Deal Structure
There are many ways to skin the cat. It is important that we help the Seller negotiate the best deal. There is more than just a “purchase price” for a business. Seller Financing, Consulting Agreements, Earn-Outs, Royalty Payments, Management Agreements, etc. – just to name a few.
Buyer Due Diligence
The Buyer will request a detailed list of items they would like to review. This can be overwhelming, but we are still actively involved in this part of the process.
Accepted Offer
Congrats! Basic Terms and Conditions have been agreed! Now the fun begins.
APA & Documents
Basic terms and conditions will become detailed as attorneys work together to create a binding agreement between the buyer and seller. Lake Country Advisors. works with the Seller’s Attorney to ensure the contract is in your best interest.
Closing
Congratulations! Now it is time to move onto the next phase of your life!