Buyers may not know exactly what they are looking for, but they are adamant in what they don’t want.
Buyers may not know exactly what they are looking in a business, but they are adamant in what they don’t want.
Gold Country Advisors begins with a personal meeting to better understand your goals and objectives. If you are committed to moving forward with buyer representation, and we believe we can help you, we will proceed with the following steps:
Step 1: Buyer Engagement Agreement. This agreement outlines our responsibilities to you as your exclusive buyer agent.
Step 2: Identify Investment Criteria. Through our initial meetings with our clients we identify their “investment criteria.” This criteria includes business or industry type; location; amount of equity versus financing ability; price range; business size; and other unique requirements.
Step 3: Develop Marketing Plan. Based on our client’s investment criteria, we devise a marketing plan to reach prospective sellers. The marketing plan often varies by client, but generally involves a direct mail campaign within a geographic region to industry-specific or like businesses, phone prospecting, and utilization of our network of relationships other intermediaries, private equity groups, and professional affiliations.
Step 4: Review and Narrow Prospects. After identifying seller targets, we work with the buyer in reviewing potential acquisitions and narrow the field to two to three “best fit” prospects.
Step 5: Initiate Dialogue with Sellers, Request Information. We initiate dialogue with owners of best-fit businesses, request additional information, coordinate communication between buyer and seller, schedule visits, etc.
Step 6: Assist with Valuation, Preparation of Letter of Intent. We assist in analyzing all data on the buyer’s behalf, perform valuation work, and prepare a Letter of Intent for purchase of the business.
Step 7: Assist with Due Diligence, Contracts, and Closing.