The Selling Process
NextStep’s structured approach ensures a well-organized and professionally managed business sale from start to finish.
Phase 1: Discovery & Strategic Insight
Step 1 - Initial Meeting
We meet with you in person or virtually to gain a deeper understanding into your goals, the reasons behind your decision to sell, and to learn more about your business. We also walk you through our process and how we work, and explore your expectations to ensure there’s a good mutual fit.
Step 2 - Financial & Market Analysis
NextStep collects your business’s financial information to do a value assessment. Using market-based approaches, we determine what your business would likely sell for in the current market. We also complete a market analysis for any real estate involved in the sale of your business.
Step 3 - Valuation & Guidance
We discuss your valuation with you to confirm alignment and outline strategic options—whether you want to sell, plan for a later exit timeline, or focus on increasing value. You’ll walk away with the insight to plan for the future.
Step 4 - Engagement
If you decide now is the right to move forward, we’ll present our formal engagement agreement that outlines the scope of our representation and sets clear expectations for how we’ll work together. Key elements of the agreement include the scope of services, duration & terms, and our success fee.
Phase 2: Go-to-Market Preparation
Step 1 - CIM Preparation
We create a comprehensive and professional marketing package commonly known as a Confidential Information Memorandum (CIM). This document provides a detailed overview of your business and is shared with qualified buyers. Because this is a prospective buyer’s first real look into the business, it is our chance to highlight the business’s value and opportunities for growth.
Step 2 - Marketing & Buyer Outreach
We identify and target the most relevant buyers for your business through marketing channels, listing platforms, direct outreach, and our broker networks. Our goal is to attract serious, qualified interest that aligns with your objectives.
Phase 3: Offers, Negotiation & Closing
Step 1 - Buyer Vetting
We screen and qualify all prospective buyers, requiring signed Non-Disclosure Agreements (NDAs) before releasing the CIM or any sensitive information. This ensures confidentiality and protects your business throughout the process.
Step 2 - Offers & Deal Negotiation
NextStep reviews all offers with you and leads the negotiations, advocating for your goals and sales conditions while maintaining positive relationships with buyers. Once we identify the best offer, we help secure a Letter of Intent (LOI) – a formal offer to purchase.
Step 3 - Due Diligence & Closing
NextStep coordinate the due diligence process to keep it organized, confidential, and on track. From accountants and attorneys for both sides to the title company, we coordinate, communicate and organize between all parties involved to ensure a smooth process, all the way through to the closing.