Top Ten Reasons To Hire The Summit Group
1. Our initial meeting will be no cost, no obligation
We love meeting with business owners and learning about their business and we are prepared to meet with you on a no cost no obligation basis to discuss your options and help you understand the sales process. At the initial meeting we can usually give you a back of the envelope estimate of value and identify issues that may impact on the timing of sale and the valuation of your business. You may decide that the timing is not right. You may decide that there are certain changes that you have to make to your operations or financial situation before you will be in a position to sell. At the end of the day, we are confident that when you do decide to sell, you will want to use the services of The Summit group.
2. We will perform a financial analysis of your business
We will prepare a detailed review of your businesses financial performance that presents your operating results in their best and most appropriate light. Your financial statements and tax returns do not generally reflect your business’ REAL earnings and therefore do not reflect the REAL value of your business. We will restate and normalize your earnings to demonstrate your operating profitability to any prospective purchaser.
3. We will provide an estimate of the value of your business
Based on our financial analysis and a review of your business and its future prospects, The Summit Group will help you arrive at the best selling price for your business. That selling price will be supportable, appropriate and fair – an over-valued business will not attract viable purchasers. We will get you a fair value for your business.
4. We will produce effective marketing materials
The Summit Group knows how to market your business. We will prepare a Confidential Information Package (CIM) that is attractive, professional and presents your business in the best light. The CIM will provide a complete picture of your business’ financial position and operations and will provide all of the information a prospective purchaser requires to determine his interest in your business and what he/she is prepared to pay for it.
5. The Summit Group will find you qualified buyers
The Summit Group has a network of qualified buyers who contact us on a regular basis looking for businesses. We will probably have a list of prospective buyers based on our first meeting with you. In addition, we will work with you to determine strategic buyers in your industry who may be interested in acquiring your business. Our goal is to generate interest from multiple buyers to create a competitive bid process that gets you the best possible price.
6. We will help you negotiate and structure the deal
The Summit Group acts for YOU in negotiating the price and structuring of the deal. We are highly experienced and innovative negotiators. Selling your business is a stressful and complicated process and we will help you get not only the best price but also the best deal for your business. We sell businesses for a living and we will guide you through the maze of lawyers and accountants, manage the due diligence process, and help you through the numerous drafts of the agreement — with confidence and integrity.
7. You still need to run your business
It is critical that the business owner continue to maintain his or her focus on running the business during the sales process. Selling you business can be very distracting and if you fail to keep your eye on the ball (and the business deteriorates) prospective purchasers may use this to lower the price or terms. Worse, they could walk away from the deal. The Summit Group will take the lead in dealing with the preliminary questions and initial meetings with the buyer. We will schedule due diligence that takes into consideration your business operations, and we will review and explain the offers and documents to you. You will be an integral part of the sale process and you will still be able to run your business effectively.
8. We will maintain confidentiality throughout the sales process
We fully understand the importance of confidentiality in selling your business. Until the appropriate time, the process must be confidential to your employees and your competitors. Confidentiality is the hallmark of our business and we take it very seriously. No financial information about your business or who you are will be released to anyone unless and until they have signed a comprehensive and effective Non-Disclosure Agreement (NDA) AND we have qualified them financially. We will meet confidentially with prospective buyers away from your place of business and will ensure due diligence takes place remotely or after hours at your business.
9. We will be with you to the end
The Summit Group is familiar with the process and potential pitfalls of selling your business. We will help you select the best legal, tax and accounting advisers and we will make sure that they provide you with the best possible service and don’t get in the way of completing the deal. We will anticipate problems before they happen and help you solve them when they do. We will advise you through every step in the process right up to the closing.
10. We will be your trusted advisers
The Summit Group will be your trusted advisers. We will get to know your business almost as well as you do. Our job will be to give you honest advice that has YOUR best interests at heart. We know that selling your business may be one of the most significant and emotional experiences you may have (other than marriage and children). We understand that this experience may set the tone for the rest of your life. Our job is to make this one of your best experiences.
