The steps to your success.
The Telling Group believes that in order to ensure the successful and profitable sale of a business, we must first familiarize our clients with the process itself.
The steps are listed below:
1. Initial discussion
A wide-ranging conversation regarding your needs, your company, and your desires. We will answer questions you have regarding the process, cost, time-frame, and commitment. TGL believes in a hands-on, personal experience for our seller. Now is the time to make sure we can develop a strong relationship for the steps ahead.
Edward Telling / Mark Travis
Telling Group, Ltd.
3938 Highland Rd.
Cortland, NY 13045
P: (607) 756-4073
F: (607) 753-3555
etelling@Tellinggroup.com or mark@Tellinggroup.com
2. Formal Engagement
This step is the kickoff to the next six to twelve weeks of preparation to bring your business to markets. The marketing agreement is a formal contract between you and TGL detailing the terms of the agreement and the retainer required to get started. Terms normally last two years and the retainer is credited to the fee after the sale.
3. Confidential Workbook
The TGL Confidential Workbook is the main tool we use to gather information about your company. Our goal is to produce a comprehensive collection of information about your business for the potential buyer. This step takes some time and energy on your part to get the job done, but when complete, you will also be well on your way to answering the questions brought up during Due Diligence.
4. FMV Evaluation
|An evaluation will be completed to ascertain the Fair Market Value of your business. The Red Apple Program evaluation is completed by Ed Telling internally. The Gold Apple Program evaluation is completed by one of our partner appraisers. Either way, we can assure you of a fair, reasonable FMV of your business. This is a starting point for determining the highest selling price as we engage the buyers.|
5. Buyer Targeting
TGL believes that the formula for your success includes talent, hard work, research, and understanding your goals.
Rules of Buyer Targeting:
6. Presentation Package
|The goal of the presentation package is to give the prospective buyer all of the important information in an accurate, honest, and compelling way.|
7. Marketing/ Buyer Strategy
Marketing includes no-price marketing to multiple strategic buyers. A generic profile (acquisition opportunity) and a confidentiality agreement are mailed to approved buyers.
Marketing Mailer Confidential Agreement
|As a graduate of five Harvard/MIT negotiation courses including a graduating member of the elite PON master’s course plus an active M&A negotiator for 30 + years, I’m the one to call to negotiate your deal.|
9. Deal Structuring / LOI
This is the point at which multiple disciplines from each of your elite teams (Broker, Attorney, CPA, and Tax-Planner) work together to accomplish your goals and objectives. They will concentrate on the following areas
Each has a cause and effect relationship to the others and must work congruently to achieve the maximum payoff.
10. Due Diligence
A sensitive time when our resources, skill, and experience shines.
11. Definitive Purchase Agreement
|All sides agree on the structure of the sale as well as the details and costs surrounding it.|
12. THE CLOSING
|Since 1982, this is what we live for.|