| Buying Process |  |
Selling Process | ||
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Contact CrossRoads Buyer contacts CrossRoads to request information on the business. |
1. |
Seller Contacts CrossRoads Seller contacts CrossRoads to schedule meeting. |
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| 2. | Establish
Confidentiality Buyer signs Confidentiality Agreement and completes Financial Profile. |
2. | Independent
Valuation An optional independent business valuation is completed for the business. |
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| 3. | Show
Prospective Businesses CrossRoads provides initial Business Profile and requests that Buyer “Mystery Shops” the business maintaining strict confidentiality. |
3. | Determine
Asking Price Seller and CrossRoads determine asking price and terms for business sale. |
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| 4. | Qualify
Buyer Buyer comes back with further interest. CrossRoads screens Buyer further to determine good fit with business. |
4. | Business
Profile CrossRoads creates Confidential Business Profile based on input from Seller. |
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| 5. | Contact
Seller CrossRoads contacts Seller to arrange a meeting or a conference call. |
5. | Advertising
The Business CrossRoads places blind Ads in newspapers, trade publications, and 15 international web-sites. |
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| 6. | Buyer
and Seller Meet In the Buyer/Seller meeting Buyer takes tour of business and asks in-depth questions. |
6. | Marketing
For Success The Seller and CrossRoads meet to determine a marketing campaign for direct mail solicitations |
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| 7. | Negotiate
Sale of Business If Buyer is still interest in business he/she makes written offer and negotiate price and terms. |
7. | Qualifying
Buyers CrossRoads qualifies any potential Buyer based on financial status and personal experience. |
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| 8. | Due
Diligence Once parties agree on price and terms, the Buyer proceeds to perform due diligence on the business for a 10 day period. |
8. | Seller
And Buyer Meet If the Buyer is still interested in the businesses after reviewing Confidential Profile and “Mystery Shopping” the location and investigating further, CrossRoads will arrange for a Buyer-Seller meeting. |
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| 9. | Legal
Documents Prepared Closing documents and escrow instructions are prepared by 3rd party. |
9. | Offers
Proposed and Assessed CrossRoads will encourage Buyer to make a written offer to purchase the business. |
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| 10 | Business
is Successfully Bought Buyer takes over business. |
10 | Due
Diligence Once parties agree on price and terms, the Buyer proceeds to perform due diligence on the business for a 10 day period. |
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| 11. | Legal
Documents Prepared Closing documents and escrow instructions are prepared by 3rd party. |
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| 12. | Business
Is Successfully Sold Buyer assumes ownership of the business |
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