As a business broker in Portland, Oregon, Eric Singer enjoys assisting business owners through the sale of their business. The 10 steps presented in detail will allow the owner to understand the process of selling their business even though they may not be engaged on a daily basis. Even if the sale of a business is in the future the information acquired will be useful in planning ahead. Preparing the business for sale in the near future is a strategy that can often increase the asking price.
Eric will discuss in detail the following 10 steps:
2. Engaging Ad
3. Screening Buyers (NDA’s)
4. Procuring an Offer
5. Creating an ‘Intent to Purchase’
6. Recommending an Attorney to write up the purchase agreement
7. Agreeing to the Purchase Agreement by the parties
8. Assisting with buyer’s due diligence
9. Assisting with lease, franchisor, and contingencies
10. Bringing all parties to a successful closing
Q&A session will conclude the talk.
Presented by Eric Singer:
My father was a CPA and since math was my best subject in school, I realized that I had a mathematical mind. I learned to respect numbers early in life and by my mid teens I would accompany my dad to meet with clients and I would balance the books...to the penny. My dad would then proceed to put together their financial statements. After college, I found pleasure and success with sales and subsequently had the opportunity to go into business for myself.
I was 25 years old when I started my honor snack vending business and over the next 30 years, I built my business based on customer relations, consistent service, and adherence to the numbers. When I sold my snack business in 2010, it was the largest in the Northwest and the oldest honor snack company in the country. After taking a few years off to explore other interests in dance and hypnotherapy I returned back to business as a business broker in Portland, Oregon.
I enjoy assisting and supporting other business owners through the sale of their business. I provide assistance with business valuations and presenting a good and accurate Profit and Loss statement (P&L) with ‘Add-Backs. I partner with my clients throughout the process, from preliminary research to closing.