Selling a business can feel messy if the process isn’t clear. I prefer a simple, predictable pathway that protects confidentiality, respects your time, and avoids dragging things out.
Here’s what happens once we start talking.
1) Initial call (confidential, high-level)
A short conversation to understand:
- What the business does and why you’re considering a sale
- Rough size and structure (revenue, profit, staff, location)
- Any obvious deal-breakers (owner dependence, major customer concentration, licences, leases)
Outcome: we decide whether it’s worth progressing. If not, we stop early and waste no one’s time.
2) High-level numbers (quick sense check)
If it looks broadly suitable, I’ll ask for a small set of headline info, typically:
- Last 2–3 years revenue and profit (or accountant-prepared financials)
- Rough owner involvement (hours/week and key tasks)
- Top customer concentration (even a simple estimate)
- Lease summary (if applicable)
Outcome: I assess whether the business is in the right ballpark and what a fair range/structure might look like.
3) LOI (Letter of Intent)
If we’re aligned, I’ll provide an LOI outlining:
- Indicative price range and deal structure (asset vs share, etc.)
- Key assumptions (financials, lease transfer, staff continuity)
- Due diligence scope and timeframes
- Confidentiality and exclusivity (if agreed)
Outcome: you get a clear written proposal before you invest more time.
4) Due diligence (verify, don’t guess)
This is where the claims get tested. Typical areas:
- Financials: P&L, BAS, bank statements, add-backs, working capital
- Operations: processes, staffing, key suppliers, capacity
- Customers: retention, contracts, concentration, pipeline
- Legal: lease, licences, employment, disputes, key agreements
Outcome: confirm the business is as represented, or adjust price/terms if risk is higher than expected.
5) Close (contracts + settlement)
Once diligence checks out:
- Lawyers finalise the sale agreement
- Finance (if required) is locked in
- Settlement date is agreed and executed
Outcome: the deal completes cleanly, with minimal last-minute drama.
6) Transition (handover that protects continuity)
A good transition protects your legacy and the business performance. Typically includes:
- Training period and introductions (staff, key customers, suppliers)
- Handover of systems, logins, manuals, and key documents
- Clear plan for who owns what decisions during the handover window
Outcome: staff and customers experience stability, not disruption.
