Sunbelt of North Dakota
Buying a Businesses in North Dakota?
You’ve come to the right place. Sunbelt has an extensive network that will enable you to find your dream business. Based on your industry and location, Sunbelt professionals will search thousands of business-for-sale listings to find the business for you. Once an acquisition target is determined, our Sunbelt professionals will walk you through the negotiation and acquisition process.
Our Sunbelt Partner has over 30 years of experience in the business brokerage industry, you can count on Sunbelt of North Dakota for all of your business buying and selling needs.
Selling your Business in North Dakota?
If you own an established business and are ready to sell, Sunbelt Of North Dakota is here to help. Whether you are ready to retire or are preparing to move on to your next business venture, Sunbelt professionals will ensure you receive fair value for the hard work you have poured into your business. With over 30 years of experience in the business brokerage industry, you can count on Sunbelt Of North Dakota for all of your business selling needs.
Deciding to sell your business is often the easy part. How to go about selling it is another challenge altogether. Sunbelt Business Brokers has been in the business of selling businesses for over 30 years. Our knowledge and experience will help you achieve your goals.
Sunbelt Business Brokers are trained professionals who understand and can service your needs. Many of our brokers also have experience as business owners. Whether you are ready to sell your business now, or are just beginning to consider selling, call us for a confidential, no-cost, no obligation consultation. We will be happy to answer any questions you may have. Contact us and one of our business brokers will help you get started.
Sunbelt Business Brokers is a privately held business brokerage and merger and acquisition firm. Its mission is to serve North Dakota business owners to confidentially market their businesses for sale on a nationwide basis to ensure maximum exposure and to sell for the best price. Our personnel have more combined experience than any other firm in full-time business brokerage in the North Dakota marketplace. We routinely handle deals of all sizes and types – from main street businesses to multimillion dollar, mid-sized corporations. No one in this marketplace is more committed and has more resources to attract buyers, both inside and outside the North Dakota area.
Why Should I Use a Sunbelt Business Broker When I Decide to Sell My Business?
The 150-office Sunbelt Business Broker National and International Network, by its very nature, helps to ensure the quickest possible sale of your business by leveraging the following resources:
Our Name: Sunbelt Business Brokers has the ability to support the sale of your business from the signing of a Representation Agreement through closing. Sunbelt Business Brokers has been serving North Dakota businesses since 1981, and Sunbelt Network has been rated the tops in business brokerage since 1995.
Our Exposure: Sunbelt Business Brokers, as the largest business brokerage in North Dakota, offers your business confidential exposure to more buyers through our proprietary database of business buyers, referral sources, attorneys, bankers, etc. To see how we stack up against our competition in marketshare click here. In addition, as a member of the Sunbelt Business Brokers Network, we place your business in front of a multitude of business brokers across the globe. Each Sunbelt office can confidentially access your listing and help promote the sale of your business.
Our Edge: A large number of brokers at Sunbelt Business Brokers are former business owners or executives. They understand the concerns expressed by business owners in regard to the sale of their businesses. We provide you with practical answers to the basic questions all sellers ask:
- What is my business worth?
- What kind of financials do I need to provide when I sell my business?
- How do I ensure confidentiality?
- What is the most effective way to find buyers?
- What kind of financing is available to help me sell my business?
- How do I deal with “off the books” transactions?
- How do I screen buyers?
- Will I have to carry a note when I sell my business?
Our Method: Our team is trained in the specific business brokerage disciplines that produce results. Consultation at no cost or obligation on a variety of business issues is available at your request as your selling process evolves. Selling a business is an intricate process that requires a very specific expertise as well as the ability to solve problems in a practical yet creative manner. We do realize, however, that all businesses are unique and that applying a “cookie-cutter” approach will not be the most effective method. We always try to tailor our marketing and procedures to accommodate the needs of your business and your concerns. Our intent is always to keep you informed and involved in the sale of your business. We know you want the freedom to concentrate on your business while we find you the right buyer.
Sunbelt Business Brokers are experts at confidentially marketing your business to find that buyer that’s the best match to maximize value.
Selling your business is a major decision. Contact Sunbelt Business Brokers today to get started.
Still unsure about using a business broker? Click here for additional information about using a broker. An experienced Business can help you gain the trust and piece of mind you need when selling your business.
Sunbelt uses a proven methodology to manage the process of selling their clients’ businesses. The following paragraphs provide a general outline of the process. Your Sunbelt Business Brokers service team can provide additional details and modify the process to best meet your specific circumstances.
Sunbelt Business Brokers will provide you with an agreement to clearly document the terms of your arrangement (commonly referred to as a listing agreement, a letter of arrangement or engagement letter). This agreement will address a number of germaine issues including, but not limited to, fees, exclusive representation for a specific period of time, confidentiality and other relevant disclosure issues.
Analyze and Prepare Operations
As a first step in the sales process, we encourage all clients to critically evaluate their business operations, identify opportunities for short and long-term improvements as well as competitive challenges that will be of interest to prospective buyers.
We strongly recommend that clients obtain a valuation of the business being offered for sale. Our appraisal affiliate specializes in professional, confidential business valuation for privately-held businesses. They are the most respected business valuation firms in the nation used by many SBA Lenders.
We will gladly recommend one or more experienced, qualified valuation firms for your consideration, should you prefer an independent valuation.
Coordinate Drafting of Confidential Business Review Memorandum
We will work with you and your management team with the preparation of an effective Confidential Business Review (“CBR”) that can be presented to potential buyers. Company management is responsible for providing all information included in the CBR; and will be consulted every step of the process to ensure accuracy.
Developing a Marketing Plan
In conjunction with the preparation of the CBR and other marketing materials, our team will work with your management team to formulate a marketing plan, including defining the marketing process and establishing timelines. The marketing plan will be customized to fit your company’s particular circumstances.
Identify and Contact Prospective Buyers
Depending upon the nature, size and value of your business, the most likely pool of buyers could be strategic corporate buyers, competitors, private equity groups, foreign companies or local, in-market investors. Our international office network facilitates the identification of potential buyers throughout the world. Sunbelt Business Brokers has a proprietary process whereby your service team can complete a succinct, confidential profile sheet based upon the Offering Memorandum. This confidential profile sheet can then be distributed to groups that we work with to identify those groups that may be looking for investment opportunities in your company’s line of business. Prospective buyers who express interest will be required to sign a Non-Disclosure Agreement prior to receiving any information about your business.
Facilitate Buyers’ Due Diligence
Prospective buyers will be given the opportunity to visit your facilities and conduct on-site due diligence. This process typically entails meeting with designated members of management, reviewing selected financial information and gathering other relevant information.
Assist Clients and Clients’ Professional Brokers with Evaluation of Offers
The goal for any transaction should be to maximize the seller’s after-tax sales proceeds. Accordingly, we encourage clients to involve their attorneys and CPAs in the process as soon as is reasonably possible so that tax planning strategies and other important transaction structuring issues can be thoroughly considered and addressed before proceeding in negotiations with prospective buyers.
Assist Clients’ Professional Brokers with Document Preparation
The seller’s and buyer’s attorneys will be responsible for reviewing the sales agreement and related documents and advising their clients on them. Our brokers will assist with the review and document compilation process.
Facilitate Timely Closing and Assist with Post Closing Issues
Sunbelt will work with the seller and buyer transaction teams (management, attorneys, CPAs) to resolve any open issues and consummate the transaction in a timely fashion.
For a confidential, no obligation discussion, contact us to obtain more information.
Do you know what your business is worth? One of the most important steps in selling a business is pricing it correctly. There are several ways to determine what another party would be willing to pay for your business; a formal business valuation is one option. Alternatively, many businesses can be properly priced with a Broker Opinion of Value.
Ultimately, the right approach will depend on the size and complexity of the business, the type of business, and the intended buyers of the business (i.e. individual investor vs. synergistic buyer).
What is your business worth?
The impact of improperly pricing a business can manifest a number of ways and at different points in the transaction. For example:
- A business owner attempting to sell without the services of a high quality broker may have unrealistic expectations about the value & his/her business, set the asking price too high and soon become frustrated with the lack of viable inquiries s/he receives.
- A buyer may uncover discrepancies in the inventory value during due diligence, bringing the transaction progress to a halt [if not completely derailing it].
- A prepared buyer and seller may both become frustrated due to their inability to find a third party lender to help fund the transaction.
Would you like to own a North Dakota area business? We can help you find the right fit for your interests, experiences, and finances. If you buy a business in North Dakota that is already operating, you can bypass the challenges of start-up and start receiving cash flow right away. There are many other reasons to buy an existing business.
Your resources are already in place. Although you are usually free to make changes, an existing business often has relationships and accounts with reliable suppliers in North Dakota. You can skip the trial and error and use the services that were already working well for the previous owner. You won’t have to establish credit from scratch, as your suppliers are already familiar with how well the business is producing
Your employees and customers already have relationships. If you buy a business in North Dakota, you will probably have employees who know the business and its customers well. A solid customer base and a staff that knows and anticipates their needs is a perfect environment for a new business owner. If everyone loves Sarah and she continues to answer the phone or work the cash register, this can be a tremendous asset during the transition of ownership.
Permits and licenses are already established. When you buy a business that is already operating, you don’t have to worry about finding and getting approval on necessary permits and licenses for your industry. Many licenses can simply be transferred, and you can feel confident that most re-applications will be granted based on prior approval.
How To Choose The Right North Dakota Business
If you want to enjoy the benefits listed above, you will have to be careful to choose the right business. This includes research to ensure that it is a well-run, profitable operation. However, there is more to finding the right business than operational efficiency and cash flow. If the business is not well-suited to your needs, a smooth-running system can quickly fall apart.
Your search should begin by asking questions to identify what types of businesses you would enjoy operating.
In what environment do you thrive? Do you prefer to work outdoors, perform calculations in an office, or whip up creative dishes in a kitchen? Most small businesses require long hours, so make sure you will be in an environment that is most natural for you.
How much contact with the public do you desire? All businesses require contact with customers, but some require a higher degree than others. If you prefer to work quietly and minimize interaction with people, a coffee shop or retail store should be crossed off of your list.
What skills and experience do you already possess? If you can find a business that is in a niche you are already familiar with, you will have the best chance of success. You don’t have to choose something that lines up with your current profession, but it should at least be an industry in which you are familiar with the terms and trends.
How to Evaluate the Feasibility of a North Dakota Business.
Once you have narrowed the choices to businesses that are suitable for your interests and experience, it is time to evaluate the business itself. There are some specific aspects you should consider.
Why is the Buyer Selling The first thing you should find out is why the current owner wants to give up the business. It could be for retirement, relocation, or to pursue other interests. However, it could also be a decline in demand, an increase in competition, or the fact that most of the business’ equipment will need replaced in the next year. Make sure you know the full details before move forward.
How much working capital will you need? Some industries will require much more than the purchase price to get started. Ask how much capital is necessary for inventory, overhead, and insuring accounts receivable. Find out how long it takes customers to pay invoices and what payment terms their suppliers offer. These questions can offer insight into cash flow that you might not see by looking at a balance sheet.
Are there off-season times you will need to consider? Make sure that you know more than just total profit. Ask about seasonal cycles during the year and how much income you need to set aside in the most profitable months. Find out if there are times when you need to hire more help or lay off employees to meet payroll.
The many facets of evaluating a business for purchase can seem overwhelming, but they are not impossible. Sunbelt Business Brokers North Dakota can offer the experience and support that you need for a successful purchase.
Contact us to discuss your North Dakota business interests.