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Business Brokerage

The company has an active & experienced business brokerage division. This specialty area covers a wide spectrum. Please inquire about these extensive confidential services.

Seller Services

Business brokers facilitate the successful sale of businesses by helping determine the price of the business, helping to structure terms that will be acceptable to both the seller and to the buyer and finally, coordinating the sales process until the transaction is successfully closed.

In addition to helping the seller fairly value the business, structure the transaction and find the right Buyer, we also act as a "project manager". We assist in the coordination of the sale process with a seller's attorney, accountant, lenders and other professional advisors, and help the seller to plan for an orderly change in ownership.

How are businesses priced?

Inevitably in a first meeting a prospective seller will ask us what we think their business will sell for. However, before we can arrive at a price or a range of suggested prices for the business a review of the businesses' financial information will be necessary. Most sellers have some idea about what they feel their business should sell for and this is certainly taken into consideration. However, Leonard, Lee & Company is familiar with market conditions and by reviewing the financial records of the business we can make a recommendation of what we feel the market will dictate.

How long does it take to sell a business?

It generally takes, on average, between seven and twelve months to sell most businesses. Some types of businesses will take longer to sell, while others will sell in a shorter period of time. It is important that the business be priced properly right from the start. Some sellers, operating under the premise that they can always come down in price, purposely overprice their businesses. This theory often backfires, because buyers usually will refuse to look at an overpriced business. Almost all businesses are salable if the price is fair and the terms are structured properly.

What happens when a buyer becomes interested in a business?

When a buyer is sufficiently interested in a business, we help the potential buyer in the preparation of an offer. This offer, proposal or letter of intent may have one or more contingencies. Usually contingencies concern detailed reviews of financial records and may also include a review of lease arrangements, franchise agreement (if applicable), other pertinent business details, and financing. The buyers' proposal will then be presented to the seller for his or her consideration.

It is important for sellers to look at each offer carefully. At first glance sellers may not be pleased with a particular offer. However, offers may be lacking in some areas but may have counterbalancing advantages in other areas that warrant serious evaluation. There is an old adage that "the first offer is generally the best offer." This does not mean that all first offers should be accepted but it does mean that all offers should be carefully evaluated.

We look forward to being of service to you and certainly enjoy working with the small business community. Please let us know if we can be of assistance.