Sale Process For Small Businesses

Phase I

Step 1            Weeks 1-3                 Record Collection, Market Research & Strategy

            Step 2*           Weeks 3-4                 Preliminary Valuation

Phase II

Step 3*           Weeks 1-3                 Confidential Business Review

Step 4*           Weeks 4-5                 Identification of Synergistic Candidates

            Step 5            Weeks 6-8                 Confidential Approach To Qualified Prospects

            Step 6            Weeks 9-12               Initial Deal Parameters & Negotiations

            Step 7            Weeks 13-16             Deal Structuring & Letter of Intent

            Step 8            Weeks 17-21             Due Diligence

            Step 9            Weeks 21-29             Definitive Agreement

            Step 10          Weeks 30-31             Closing And Transition To New Ownership

*Steps 2, 3 & 4 often occur simultaneously. Note: These are estimates only; timetables may be accelerated or decelerated to take into account client needs or Market conditions.

CHECKLIST OF REQUIRED INFORMATION

In order to expedite the sale of your business please submit the following information (where applicable).

A.  Financial Statements

______            1.  Annual financial statements for the past three to five years

______            2.  Federal income tax returns for the same period of years

______            3.  Interim statements (monthly and/or quarterly)

B.  Other information

______            4.  List of  loans (if any)

______            5.  Inventory list

______            6.  Supplier/Vendor List

______            7.  Equipment list- by item, by category- with replacement cost

______            8.  Copies of real and personal property tax assessments

______            9.  Copies of appraisal reports, if any

______            10.  Copies of leases, loan agreements, franchise or distributorship agreements, contracts with customers and/or suppliers, buy/sell agreements, employment non-competition agreements, etc.

______            11.  Product or service brochures, catalogs, price lists, menus, product samples, announcements, etc.  (as applicable)

______            12.  List of trade association memberships and industry information sources

______            13.  Licenses and operating permits

H.   Name and Business Telephone Numbers of the Following Persons

______            14.  Attorney

______            15.  Landlord

______            16.  Accounting