Cantrell-Griffin Business Brokers works diligently to lead buyers and sellers to the closing table. Here are many of the frequently asked questions and answers that we receive about buying and selling a business.
Buying A Business
How do I get started?
Your first step in getting started is to actually make the decision to begin earnestly searching for the right business opportunity. Making the decision to buy a business often is a long process where many questions will have to be answered before getting to the point of actually deciding on a particular business.
Why should I contact Cantrell-Griffin Business Brokers?
Cantrell-Griffin Business Brokers has more than a thirty year history of providing professional and confidential assistance to new and existing business owners. At Cantrell-Griffin Business Brokers, we will assist you in answering questions about how to buy a business, what types of financing are available and what businesses are currently on the market.
What information will Cantrell-Griffin Business Brokers need?
We will need information about you, your background, areas of interest and sources and amounts of finances to invest. This information can be provided by completing the Confidential Buyers Forms & Areas of Interest Form and sending the information to us or by completing the forms prior to your meeting with Cantrell-Griffin Business Brokers.
How do I set up a meeting?
You can contact us at firstname.lastname@example.org to schedule a meeting time or you can call our offices at 479-521-8529.
We realize ownership of your business can be a culmination of years of planning and financial preparation. All you have to do to get started is to take the next step, contact us. We are ready to help you find the business you desire!
Selling A Business
How do I know my business is valued correctly?
Cantrell-Griffin Business Brokers utilizes a time-tested methodology for valuing your business using your business financial information, industry statistics and your competitive market profile. Our business valuation model provides you with a valuation calculated to provide you with an optimistic business value based on multiples of your business profit and cash flow achievement.
What steps should I take to help my business sell?
You should maintain normal business operations, inventory levels and procedures in dealing with employees and customers, maintain accurate accounting records. You should prepare the business by cleaning office areas for a potential buyer walk-through of the business.
How long will it take to sell my business?
Every business is unique in its value, location and reputation. There is no way to accurately predict how long it will take to sell your business. Cantrell-Griffin Business Brokers has achieved a high degree of success in selling businesses in short periods if the business is priced correctly.
How can I be assured my information remains confidential?
Information will only be provided after potential buyers execute legally binding non-circumvention, non-disclosure and confidentiality agreement. This agreement is kept on file at Cantrell-Griffin Business Brokers.
What kind of offers can I expect to receive?
Offers to buy your business will often be less than the expected price. Buyers establish what they are willing to pay for the business based on their own business valuation. Cantrell-Griffin Business Brokers will present all offers to you and work with you to determine how to respond appropriately to each offer.
How do I know someone making an offer is financially capable of buying the business?
Cantrell-Griffin Business Brokers determines the initial financial suitability of each buyer by having him or her complete a financial statement application. Although financial institutions will require much more detail, the initial financial statement provides a snapshot of the financial ability of the buyers.
How long does it take from an offer being accepted to the business actually selling?
Buyers due diligence periods vary in length. The actual closing date can be specified in the offer and acceptance and is usually determined by due diligence completion and financing.
When should I let my customers and employees know about the sale?
Although most business owners want to let their customers and employees know immediately, numerous due diligence and financial details must first be completed. Cantrell-Griffin Business Brokers will work with you to determine the most appropriate time to notify your employees and customers.
Selling a business can has been said it is like parting with a child, very difficult. However, we can guide you through the process to closing. All you have to do to get started is to take the next step, contact us. We are ready to help you sell your business!