Get Ready for Closing!

Once we receive the Letter of Intent (LOI) from a potential buyer, and it evolves into the final Purchase Agreement, your active involvement will be vital for a seamless closing process. Here are the critical steps to follow:

1. 1. Conduct Legal and Accountant Due Diligence

      Ensure that you have all legal and financial documents organized and accessible for the buyer’s review.

   2. Obtain Franchise Approval (If Applicable)

      If your business operates under a franchise, securing the necessary approvals is crucial for the sale.

   3. Negotiate with the Landlord/Local Lease Agreement

      Collaborate with the landlord to confirm lease terms that will be favorable for the buyer.

   4. Closing Documents

      Ensure that all details are accurately documented and understood by both parties.

   5. Knowledge Transfer

      After closing, facilitate a thorough knowledge transfer. This is vital for helping the new owner understand the business operations and ensuring a smooth transition.

By following these steps, you’ll be well-prepared to navigate the selling process effectively and achieve a successful business sale.