Stage One: The Valuation Call
A broker asks about sales, profit, staff, customers and your lease, then gives a realistic range. This call is free. It often ends with homework: a list of items that could raise the price before going to market.
Stage Two: Packaging the Company
Before any buyer hears about you, the broker prepares a confidential book with recast earnings, a plain description of the operation and the reasons a buyer should care. A good company still needs to be sold well, not just listed.
A blind listing describes the industry, general area, revenue and cash flow without your name or specific customers. Interested buyers sign a confidentiality agreement before they learn who you are.
Stage Three: Finding Buyers
The broker spreads the word through listing sites, email, trade contacts and past buyers, then qualifies who can really pay.
Closer to $500,000 in price, the buyer is often within 20 miles. Above $5 million, buyers regularly travel more than 100 miles.
Stage Four: Offers and the Letter of Intent
An offer arrives as a letter of intent. Read past the headline. Cash at closing, seller note terms, an earnout, a transition period and what happens to inventory all matter as much as the number.
Be wary of an unsolicited offer that tells you not to bring in a broker. That usually comes from a buyer angling for a lower price done directly.
Stage Five: Due Diligence
The buyer and a lender dig into your books, contracts, leases, licenses and tax filings. This is where preparation shows. Expect questions about every add-back, and keep results steady while it runs.
Confidentiality still matters. Dates slip, and telling staff too early risks losing people and the deal.
Stage Six: Financing and Paperwork
An SBA lender needs weeks to underwrite, and the attorney drafts the purchase agreement.
Meanwhile the closing paperwork starts: personal property listings, state tax accounts, licenses and the purchase price allocation. Our Closing Desk covers the Raleigh area versions of each.
Stage Seven: Closing and the Handoff
Funds move, keys change hands and the transition begins. Plan the non-compete, the training schedule and how you will introduce the new owner to key customers and staff.
Most sales close in seven to nine months. Six is fast. Owners often feel it is taking forever when it is on a normal pace. Start the conversation with a valuation check, or review how buyers price a company while you wait.