Frequently Asked Questions Our M&A Advisors and Business Brokers Can Help WithPublished September 10, 2020 | By Achim Neumann, PresidentBusiness owners who are looking to sell their business are sure to have a range of questions about the selling process and how it works. The best way to answer these questions is undoubtedly to consult a professional M&A Advisor and / or business broker with experience in selling other businesses. They will be able to provide objective advice regarding the appropriate steps you should take to ensure that any sale helps you on the way to reaching your personal and professional goals.At A. Neumann & Associates, LLC, we have an excellent record of facilitating business transactions. Our professionals are always happy to answer all of your questions to help you make the right decisions regarding the sale of your business. Should you choose to proceed with the sale, we will be with you every step of the way, from initial marketing to closing the deal.As experienced professionals, we often hear the same questions when we have a first contact with sellers. Below, we have provided answers to the most frequently asked questions we receive from business owners. We appreciate that every situation is different, but we hope that this information works to clarify any doubts you have as you set out to sell your business in New York, Pennsylvania, Maryland or anywhere else on the east coast.What do I look for in an M&A advisor and business broker?The process of choosing the right professional is best carried out via face-to-face interviews (or online during the current health crisis). We find that this is the most accurate way to assess the viability of a firm for your objectives. Principally, you will want to identify a professional with whom it is easy to communicate. An understanding and accessible professional is essential in a sale process that requires clear and regular communication to yield desired outcomes.Another thing to look for is a professional who is both based locally and possesses national connections. At A. Neumann & Associates, LLC, our business brokers are equally familiar with the local business climate while retaining extensive access and resources available through our broader organization. Finally, look for a professional who is prepared to provide referrals to professional contacts who can share their experience with you.What process do M&A advisors and business brokers use to find buyers?With A. Neumann & Associates, LLC, finding a serious buyer is made simple. This is because we have a large network of already pre-qualified buyers in our CRM database thanks to our many years in the industry. Our objective is to quickly identify pre-qualified buyers with a genuine interest in your business who are prepared to pay market value and able to move quickly toward the final sale.We have a tried-and-tested method of buyer identification and pre-qualification that includes advertising in leading publications and casting our net wide into associated industries. Since we are affiliated with national and international business brokerage associations, we have immediate access to a large pool of buyers. This allows us to narrow down potential buyers to those who represent the best fit for your circumstances.What is the time frame for selling a business?There are a number of factors that go into a calculation of how long it will take to sell a business. Factors to consider range from the time required to determine the value of the business to the size of the buyer pool and potential financing obstacles. No matter whether the process is rapid or takes a little longer, we will be there to guide you at all times and are proud of our stellar record of delivering optimal results time after time.Since every business transaction is different, we do not like to put an exact figure on the time that is necessary to find a buyer and finalize a deal. That said, our professionals look to achieve a sale within the average transaction length of 6-9 months. If the transaction is more complex, the deal can take around a year to conclude.How does the selling process begin?Selling a business requires more than publishing a few pictures and a brief business description online. There is a good amount of research that goes into the process of putting a business on the market. The first step is to perform a thorough evaluation of your business operations and analysis of your company’s financial records. This ensures that everything is in order for the buyer to view as well as highlighting the different strengths and weaknesses of your business. All is done in complete confidentiality as well which is paramount.A. Neumann & Associates, LLC, will help you conduct a Business Valuation and Market Analysis. We will develop the marketing documents needed showing the asking price and deal structure. We will work to put together an offer that maximizes the company value.