Confidentiality when selling a business


The Four Essential Stages When Selling a Business

When it comes to reaching a successful closing, there are four important stages to keep in mind. In this article, we will take a look at the process and what sellers can expect. If you are planning to sell a business, it is also helpful to understand in depth what the stages are from a buyer’s perspective.  The Letter of Intent (LOI) The letter of intent is one of the responsibilities that your M&A Advisor will take on to assist you. Your letter of intent should include the price, terms, time frame anticipated as well as other factors, such as the seller’s transition and training. Details such as what is included and what is not included in the deal should always be addressed in this agreement.  Due Diligence  The due diligence process is also an essential step. Your M&A Advisor will guide you during due diligence. All important facts and documentation should be evaluated, ranging from tax returns and internal P&Ls to leases, bank statements, and … [Read more...]

Preparing for Selling your Business and Retirement

Business owners are truly committed to their businesses. As a result, it is very difficult for them to step away even when they approach retirement age. It is not uncommon for business owners to keep working into their golden years. But the truth of the matter is that at some point almost every business owner will need to embrace retirement and sell their business whether it is for health issues, moving to a new location, or simply for greater peace of mind. If you find yourself in this situation, it could feel overwhelming. After all, most people have not sold a business before. As a result, they are not clear on what the process is and don’t know where to begin or who to contact. Every business owner should be thinking about the eventual sale of their business because this future event should determine many of your current activities and decisions.  Let’s take a look at some things you can do well in advance to increase the probability of selling your business.  Automate … [Read more...]

Top Ten Ways to Avoid Wrecking a Deal When Selling A Business

Finalizing a deal is usually a complex process, and there is a good deal of room for error, misunderstandings, miscalculations, and good old-fashion wild cards.  That is why it is critical to carefully think through the deal process well in advance.  We’re going to explore the top ten steps you can take to avoid wrecking a deal when selling your business. Confidentiality – At the top of our “how not to wreck a deal list” is confidentiality.  It is vital that everyone involved in the deal takes steps to avoid a breach.  Experienced Business Brokers and M&A Advisors are experts at maintaining confidentiality. Flexibility  – The second tip on our list is to be Flexible! A lack of flexibility can absolutely destroy a deal. You shouldn’t go into a deal expecting to have all of your terms met and keep in mind every buyer and situation is different. Be Open to Negotiations – Just as it is critical to be flexible, it is also important to embrace the concept of negotiation.  … [Read more...]

The Importance Of A Confidentiality Agreement When Selling your Business

When it comes to buying or selling a business, there is no replacement for a solid confidentiality agreement.  One of the key ways that Business Brokers / M&A Advisors are able to help buyers and sellers alike is through their extensive knowledge of confidentiality agreements and how best to implement them.  In this article, we will provide you with an overview of what you should expect out of your confidentiality agreements. A confidentiality agreement is a legal agreement that essentially forbids both buyers and sellers, as well as related parties such as agents, from disclosing information regarding the transition.  It is a best practice to have a confidentiality agreement in place before discussing the business in any way and especially before divulging key information on the operation of the business or trade secrets. While a confidentiality agreement can be used to keep the fact that a business is for sale private, that is only a small aspect of what modern confidentiality … [Read more...]

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Matt Coletta, CBB, CBI, is a Certified Business Broker and a Certified Business Intermediary with over 25 years of experience in successfully representing Business Sellers and Buyers in various industries. Matt is a Los Angeles Business Broker and represents Business Owners and Businesses for Sale throughout Southern California including: Los Angeles County, Orange County, Ventura County, West Los Angeles, City of Industry, Downtown Los Angele, Gardena, Whittier, San Gabriel, Upland, South Bay, Torrance, Newport Beach, Irvine, Brea, Anaheim, Long Beach, San Fernando Valley, Woodland Hills, Chatsworth, Sherman Oaks, North Hollywood, Northridge, Van Nuys, Burbank, Glendale, Pasadena, Sun Valley, Valencia, Santa Clarita, Palmdale, Ventura, Camarillo, Oxnard, Thousand Oaks, Simi Valley and other cities in the greater Southern California area.