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  • North Carolina: (919) 297-2097 | Connecticut: (203) 442-4114

Comer Business Brokers
  • Home
  • About Us
  • Business Services
    • Sell Well – Selling Your Business
    • Run Well – Maximizing Your Profit
    • Valuation and Other Services
  • Our Listings
    • Businesses for Sale
    • Sold Businesses
  • Blog
  • Contact Us

Sell Well – Selling Your Business

Comer Business Brokers is devoted to helping business owners Sell Well™

Are you a business owner contemplating a sale of your business?  Let Comer Business Brokers (CBB) help you Sell Well™.  No one knows your business better than you, and no one knows selling your business better than us.  Read below to see how we can help you achieve maximum value for your business.  Then contact us and set up an initial consultation.

Why hire a business broker?

People intuitively understand the need for experts.  When your circuit breaker constantly trips, you call an electrician.  When your pipe bursts, you call a plumber.  When your alternator dies, you take your car to an automotive service center.  Selling a business is no different.  To do it well requires a specific skill set and extensive relevant experience.  No matter how talented you are at running your business, selling your business is different.  Hiring a business broker helps you sell your business.  Hiring Comer Business Brokers helps you Sell Well™.

Why should I set up an initial consultation?

First and foremost, you have nothing to lose – an initial consultation is free.  Selling a business is principally about trust, and the initial consultation allows each of us to gauge the other.  We will learn about you, your personal situation, your business, your goals and your expectations.  You will learn about the current market, trends in your industry, the process of selling your business and how CBB can help.  If you and we develop a good rapport and you are interested in moving forward with a sale, we can formally engage and begin adding value straight away.

How much is my business worth?

How much your business is worth will be the fundamental topic of any negotiation between you and a potential buyer.  You have poured time, sweat and tears into your business and you naturally have a strong emotional attachment to it.  You may also have a unique personal situation that is motivating your sale.  Your prospective buyers, however, do not share that emotional attachment and do not know your personal motivations.  Accordingly, it is important to have a clear, objective understanding of the value of your business prior to starting any sale process.  CBB will analyze your business, its market, its location, its financial and operational performance, its unique attributes and other information and determine an objective, professional opinion of value prior to initiating any sales listing.  We will then have a thorough valuation and pricing discussion with you to ensure that we list your business at a price that is likely to maximize your value.  Pricing too low can leave money on the table unnecessarily, while pricing too high can forestall any sales process or drive an excessive devaluation later in the process.  So CBB takes the valuation process very seriously, and considers it a fundamental step in helping you Sell Well™.

How does the sales process work?

While every deal is different, most sale processes have the same basic components:

Business Staging

Like a house, a business can have a lived-in look after a while.  And just like showing a house for sale, you want your business to look its best before any prospective buyers show up.  Staging your business can involve general organization and cleaning, fixing small problems (minor machinery repair, broken fixtures, etc.) and other moderate fixes.  We will help you determine what needs to be addressed and what can wait, maximizing your potential value while respecting your time.

Listing

Once a valuation is determined and an asking price is set, and after your business is properly staged, we will list your business for sale.  We use multiple avenues to list your business, including database services, professional networks, personal connections and targeted outreach.  Our goal is to maximize the number of high likelihood inquiries and to minimize the low probability or general inbounds.

Screening and Marketing

Although we endeavor to attract meaningful inquiries from likely buyers, we are still mindful of the demands on your time.  We prescreen all potential buyers – including known buyers – for suitability before disclosing information about your business.  We take into account buyer motivation and goals, cash liquidity, creditworthiness, experience and other factors to narrow the field.  Suitable buyers then execute confidentiality agreements before we share any confidential or proprietary information regarding your business.  We then share a professional marketing presentation about your business – prepared by us and highly customized to your business – and begin to work towards an offer.

Indication of Interest and Negotiation

Suitable buyers with genuine interest will submit a non-binding indication of interest (IOI) to purchase your business.  The IOI will contain an offer price.  It will also set forth any conditions to the buyer’s offer, which may include certain specific diligence items, like a review of financial statements and tax returns, the ability to obtain certain licenses, if your business is regulated, the ability to receive appropriate training regarding your business and/or other items.  Working closely with you, we will serve as intermediary between you and the buyer to negotiate the offer price, to more narrowly tailor the offer conditions and diligence requirements or to address any other issues of concern.  Once all parties reach an agreement in principle, we can move towards due diligence and definitive documentation.

Due Diligence, Definitive Documentation and Closing

The due diligence process can be the most frustrating aspect of a business sale transaction.  Buyers are generally prudent, and they want to know what they are getting into before they pay money for a business.  Accordingly, they customarily will have lots of questions for you to address.  Our job is to field and organize these questions, and to create and manage a process for providing responses that balances your available time and the buyer’s needs.  After all, you still need to run your business while this is going on, and we are very mindful of that.  Simultaneously, we will be working towards a definitive purchase and sale agreement that will set out the formal terms and conditions of the sale of your business.  Our years of experience in this regard are a valuable resource, as we can help you triage the negotiation points to prioritize and prevail on the issues most important to you.  We can also help you to manage any professionals and advisors working for you – lawyers, accountants, etc.  If needed, we can even help you identify competent advisors to assist you.  Once the definitive documentation is agreed and executed, we can help you navigate any conditions to closing – confirmation of buyer financing, if applicable, lease assignment, inspections and licenses, etc.  If any impediments materialize, we will work with you, the buyer and your and the buyer’s advisors to address and fix them.  And if all goes well, we will have helped you achieve your ultimate goal – to Sell Well™.

What if my business owns real estate?

No problem.  Comer Business Brokers is able, through an affiliate, to assist with your real estate transaction, as well.  This is key, as it allows you to conduct one complete sales process with the same group of players and consistent strategic advice, without having to run two contemporaneous sales with multiple brokers and advisors.  Not every business broker can offer this, but CBB has you covered.

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    • We could not have sold our company without Irina Comer.

      “My business partner and myself reached a time in our lives where it was time to consider retirement.  We had a very respectable printing business and wanted to find the right person to carry it on but had no idea where to begin.  We reached out to Irina who explained the process and immediately began the search.  She found the perfect buyers who were as passionate about the business as we were.  Neither ourselves or the buyers had ever bought or sold a company before but Irina walked us through the entire process.  She not only worked directly with us and the buyers but interacted with the additional parties involved such as the banks and attorneys keeping all the moving parts together.  We highly recommend her.  We could not have sold our company without her.”

      Chris and Bob, sellers of a blueprinting company.

      We highly recommend Irina to any one selling their business!

      “We highly recommend Irina to any one selling their business for her professionalism, knowledge, and availability. Irina is very knowledgeable in accounting and marketing, enabling her to correctly value and emphasize the strengths of a business. She also has strong expertise in the day to day tasks of running a business allowing her to develop a strong marketing plan of a business.

      She is also very professional and available at any time whether in person, by email, or over the phone. In addition, she is a strong professional who always meets deadlines. She had an answer to all of our questions and attended to every step in the sale very quickly. Irina is always optimistic while remaining realistic. Her professionalism, combined with her knowledgeable in real estate, marketing, and accounting, make her a very strong broker.”

      Isabelle and Vincent Koenig, sellers of a French Bakery

      Irina was with us every step of the way!

      “Buying a business can, at times, be a daunting and confusing process. Irina was with us every step of the way. She answered any and all questions and concerns; she was the bridge that kept us all connected and communicating.
      Irina is a true professional. She was invaluable in helping us buy our first business. Thank you, Irina!”

      Michelle & Chris F., buyers of a reprographics company

      Irina was a complete pleasure to work with!

      “Irina Comer was a complete pleasure to work with.  She is a great communicator and relies on very good common sense in all her decisions.  I felt that I was well watched over throughout the entire process of having my business sold.  The business closing occurred without a hitch, which was a great relief.  I can wholeheartedly recommend Irina and her expertise for any business transaction.”

      Charles B., a wine store seller.

      Great Experience, Thank you!

      “At times of today where business dealings are harder than ever, it was a breath of fresh air knowing that brokers are still out like Irina Comer. I had the true pleasure of crossing paths with Irina where the clear, transparency, direction and guidance was second to none. I took a chance, a life savings chance on this company where people say never look back. I will always look back and be thankful that I was given the opportunity to work with Irina and allowed me the next journey of my life. Thank you!”

      Doug, buyer of two established CT franchises

      I was impressed by quality and expertise of Chris and Comer Business Brokers!

      “Christine Motta of Comer Business Brokers worked tirelessly to find the right buyer for my unique business. This was a complex transaction between seller, buyer, franchise, and landlord.  Christine was a tremendous communicator and mediator and researcher and worked with all parties to come to the right outcome for everyone.  She was truly amazing and encouraging to work with and I am very thankful”

      Ron B., owner of a Wild Birds Unlimited Store

      Irina, you were an absolute pleasure to work with!

      “We are so appreciative of your help during the buying process of our wine shop! You held our hand through a very stressful process and made it all happen. Thank you for driving across the state of CT last minute to make sure we had all of our paperwork, applications, tax information etc. all in order! You made a dream true and we are so excited to make The Best Wine Shop in Town  just that! You were an absolute pleasure to work with! We love your calm demeanor and extensive knowledge of the buying and selling process!”

      Cheryl Carboneau and Tony Rousseau, a liquor store buyers

      Irina is the ultimate broker!

      “We were skeptical about being able to find a way to buy our dream business, but Irina assured us that she would be able to coordinate financing, provide references for expert legal counsel, and serve as a professional liaison between us and the sellers.

      Irina was not only true to her word, but she exceled at every aspect of the process. Her business acumen gave us confidence that the deal would come to fruition.  In addition, Irina’s sense of humor made us laugh, even when obstacles seemed overwhelming at times.  Irina is a tremendous communicator; she always responded quickly and effectively when we had questions or concerns.

      When searching for a broker, there is no need to look further than Irina Comer.  She is a top-notch professional, worth her weight in gold! Irina is the only broker we will ever consider as our representative!”

      Jill and Mike S., Buyers of French Bakery
        © 2021 Comer Business Brokers
        Comer Business Brokers (CBB) is devoted to helping business owners Sell Well™