Many owners decide to sell only when approached by a prospective buyer. They will typically round up their accountant and attorney (who may or may not have business sales or M&A transaction experience) and begin negotiating with the prospective buyer.
This is a recipe for disaster, in one way or another, and that is exactly how it almost always turns out.
The owner enters into negotiations at their weakest, with a business that is not ready to sell, and no adviser to guide the transaction. The owner spends an inordinate amount of time dealing with the buyer and their advisers, neglecting the business. These deals almost always blow up, leaving the owner and business in chaos, and in a weaker position than before it all began.
And in the rare occasions when a sale is actually consummated, the owner ends up walking away with less than they should have. Dealing with one buyer at a time, is the surest way to get the least for one’s business.
Don’t make this terrible mistake. Hire a professional. We can show you exactly how we earn our keep, many times over.