 |
Home | Contact Us |
 Ready To Sell? Make Provident Group Your First Step.
Selling your business is one of the most important transactions you’ll ever undertake. You owe it to yourself, your family, and your employees to approach this same the same careful planning and dedication that you put to work in building your business. That’s why your first step should be choosing Provident Group. At Provident Group we know that there are no shortcuts to success. No easy answers. No such thing as luck. We know that selling a business to the right buyer at the best price is hard work. We’re dedicated to squeezing the last ounce of value from our client’s business while at the same time positioning the best business’ new owners for success. We don’t compromise our clients or our principals to make a sale. When you work with Provident Group, you get a long list of benefits that helps your business stand out in a crowd and sell for top dollar. Professional Business Profile. The most important tool in positioning your company to sell for top dollar is a Business Profile. Provident Group profile are in a league of their own and typically include a detailed description of your business with statistics from our database and extensive comparable sales information from our stats. This extensive data and more is wrapped into a professionally written report that motivates your prospective buyer to purchase your business. Print Advertising. Provident Group advertises in the Wall Street Journal, business trade magazines, business brokerage and M&A publications, and other publications to ensure maximum exposure for your business. Internet Advertising. Provident Group’ client companies are exposes to thousands of buyers each day through our web site at www.providentgroupinc.com and other business web sites. The Internet has opened new frontiers in buying and selling businesses, and Provident Group is on the cutting-edge of Internet use and benefits. Strategic Marketing. The difference between just going through the motions and really winning is the development of a strategic marking plan to sell your business. At Provident Group we create a strategic plan to target the potential Buyers for your business in and out of your industry. When appropriate, we use direct mail marketing to reach potential Buyers in places that you may not have even thought abut. We give Buyers specific reasons to acquire your business. Our goal is a “bidding war” for your business, ensuring you top dollar in your sale. Confidentiality. At Provident Group we know how important maintaining the confidential nature of your sale is to your business, its employees and supplies. That means that you can count on us to work hard to preserve the confidentiality of your business. Our ads or Internet postings are “blind.” Your business’ identity is hidden; only the facts necessary to generate buyer interest are presented. Buyers must sign a confidentiality agreement, and often must provide a financial disclosure and meet with a Provident Group staff member before they can obtain specific information about your business. Co-op With Business Brokers nationally and internationally. Many business owners don’t realize the power of our Bizex® System (Business Listing Service), an on-line network that puts your business in contact with professional Provident Group worldwide. |
 Business Solutions
We provide services to anyone considering buying or selling a business. We are happy to answer any questions about these activities including pricing and valuation issues, exit strategies, business financing or any other subjects related to the purchase or sale of a business. We encourage you to visit the many informative areas of this website. Don’t hesitate to call us today significant transactional savings by avoiding the competitive atmosphere that is created once a business is presented to the marketplace. Visit our Forms Page under Client Services for a Buy-Right brochure or call our office to speak with a professional today.
Business Valuation Services It may not be time to sell or you may just be curious about what your business is worth. However, there are also other reasons why a business owner might require a business valuation. Such personal matters as marital or partnership issues, estate planning or other reasons may require an actual valuation of the business that can be defended if litigation is a possibility. We have the knowledge and experience to advise in these matters and to prepare the valuation if required.
Preparing a Business for Sale The decision to sell one’s business is a serious step. We can’t make the decision to sell for you, but we can give you the information you need to help make it. We can tell you about current market conditions, pricing and structuring the business so it will sell getting it ready for sale and answer any other questions you might. You may also want to review the articles under Selling Your Business that is also available on our site.
Pricing a Business Getting the highest price that the market will bring is important to anyone selling their business. We can’t tell you what that price is, but we can give you some guidelines on how to set a price. We can also advise you on how to prepare your business for sale to maximize its value to a potential buyer
Selling a Business Selling a company is a serious matter. When implementing the final phase of an exit strategy, it is important to do it right, for mistakes often can be costly and unrecoverable. The best chance to achieve the right deal is in the first marketing effort. Industry research suggests only 20% - 50% of businesses available for sale will actually sell. Therefore, it is imperative that the company's confidential presentation to the marketplace be done in a way most likely to deliver results. Success depends on the right price, the right terms, the right presentation to the right people; the right negotiating; and the right follow through. Legacy relies on dependable processes, state of the art applications, and our knowledgeable and experienced professionals to help clients realize their goals.
Legacy's Sell Right System is a six-step, systematic and proven marketing approach that includes the following steps: 1) The Right Path Assessment, 2) The Right Buyer, 3) The Right Thinking, 4) The Right Methods, 5) The Right Deal, and 6) The Right Finish. Visit our Forms Page under Client Services for a Sell-Right brochure or call our office to speak with a professional today. 
The first contact Provident Group makes with the potential market of buyers for your business is via a blind (anonymous) one-page profile of your company. Your location is described in general terms and so are the details of your company. Key financials are presented as well as a description of your products and services, along with a short list of salient growth opportunities. Your company is not identified in the one-page profile.
The next piece of information a prospective receives is delivered only after he signs a binding confidentiality agreement. At that point, the buyer receives the book (Confidential Descriptive Memorandum) along with a CD containing the promotional video. We can also send buyers an e-mail link to the video even before they receive the book. In less than two minutes, they get to meet the owner(s), key employees and are given a virtual tour of your facility. Your employees do not learn the company is for sale until you want them to. The video is made under a different company name (a separate entity owned by Provident Group) and employees are told that the video is for marketing and sales purposes. It's critical to closely scrutinize M&A professionals before engaging them to sell your most valuable asset. The answers you receive to the following questions are particularly revealing about the quality and integrity of the firm you are considering:
A. Can you supply me with references from former clients who can tell me about your firm? Provident Group features video-references of clients right on our Website, and we will supply former client contact info to serious prospective clients. B. Can I engage your firm to sell my company without having a valuation done first? Yes. Provident Group will give you an idea of value before we take on your project to make sure your expectations are realistic. Simply complete our strictly confidential Free Value Assessment Form and we will contact you within a few days to discuss value. While your accountant is an important advisor, he or she will not be an expert in marketing companies, creating a competitive auction for your company, or negotating the most favorable terms on your behalf.
Possibly. Approximately one out of every four of our transactions are completed with public companies.
One year maximum. In most cases, a competent mergers and acquisitions firm should be able to sell your company successfully within a year.
No. You will only know that you have received the best possible offer for your company if you have multiple, simultaneous offers to choose from. Offers result from generating buyer excitement with a striking print presentation and a dynamic promotional digital video that showcase your company’s unique strengths and future promise. These marketing tools enable us to obtain the highest price for your company by creating a competitive bidding process.
Generally buyers determine a company's prospects on the basis of recent results, growth opportunities, overall company quality, as well as on a multiple of EBITDA common for that industry at the time of sale. PE is not a relevant metric for valuing private companies, and book value is not an accurate reflection of a business' worth in the marketplace.
We always find buyers for our seller clients due to two major factors: 1) Our customized, broad-based marketing system produces a diverse pool of potential strategic and financial buyers for each of our clients; and 2) We do not accept engagements from clients with unrealistic value expectations.
The number one reason a transaction is not completed is weakening financial performance. If the financial performance of a seller is off materially from the original forecast, the business loses value. Therefore, we always emphasize to sellers how important it is to stay on top of their business and to continue to actively grow it as if they’ll continue to own it for another couple of years.
The number two reason deals fall apart is surprises popping up in due diligence. We work with both parties to ensure all relevant business issues are disclosed up-front. Surprises lead to lack of trust, and lack of trust kills deals.
When I sell my company do I also sell the property it occupies, or would I lease the land and/or buildings to the acquirer?
Either way is possible. You may receive offers for just the business with rental income to you, as well as offers to purchase the business along with the real estate. You can choose whichever option you prefer.
We generally see 6-12 months for the current owner to stay on. The former owner’s compensation is negotiated based on the buyer’s estimate of what would they need to pay someone in the market to replace you.
This depends on the attorneys involved, however, most closings these days are done by wire transfer. Signature sheets are faxed to both parties after review by attorneys. After both sides have signed all necessary documents, the funds are wired into your bank account.
|
 |
|
