Do I need to have decided to sell?
No. You can discuss your questions, timing and priorities without deciding to sell, and you can decide afterward that a buyer conversation isn't right for you now Signal View Partners: For business owners (including owner FAQ). An inquiry doesn't create a public listing or authorize public marketing of your company Signal View Partners: For business owners (including owner FAQ). "Not now" is a useful answer to reach. It costs you nothing.
What should I figure out about my timing?
Timing shapes almost everything else, so be honest with yourself about it. Our owner inquiry form offers four answers: exploring, one to three years, within twelve months, or open to the right conversation Signal View Partners: Owner inquiry form. Any of them is a fine place to start. A few questions help sharpen it:
- Is something driving the timing, such as health, family, a partner who wants out, or a lease or major contract coming up for renewal?
- Is the date fixed, or would you move sooner or later for the right fit?
- What would the next five years look like if you didn't sell?
What role would I want after a sale?
Some owners want a clean exit. Others want to stay for a while, or keep doing the part of the work they enjoy while someone else carries the rest. Neither is wrong, but different buyers expect different things. Know your answer before a buyer asks.
- How long would you be willing to stay, if at all?
- What work would you want to keep, and what would you happily hand over?
- What would be hard to hand over: key customer relationships, pricing, the books, the crew schedule?
- Would you want a title, an advisory role, or nothing at all?
What would I want to protect beyond price?
Write down what matters besides the number. That might be the team, customer relationships, the company's culture, its name or your own future role Signal View Partners: For business owners (including owner FAQ). Then rank the list. Five equal priorities are hard to act on. A ranked list tells a buyer, and you, what matters most.
Those priorities become your questions later. If keeping your operations manager matters, you'll want to hear what a buyer plans for that role. If the name matters, ask whether it stays.
Who else has a say?
Selling is rarely a solo decision, even when you own most of the company. Before you talk with anyone outside, think about who would need to agree or would expect to know:
- Co-owners or partners. An operating, partnership or shareholder agreement may set out who has to approve a sale and on what terms. Read yours, or ask your attorney to.
- Family. A spouse, or relatives who work in the business or hold a stake. The SBA notes that transferring ownership of a family business can have legal impacts, such as estate and gift tax obligations U.S. Small Business Administration: Close or sell your business.
- Lenders, landlords and key contracts. Some loans, leases and customer or supplier contracts may require consent when ownership changes. Your attorney can tell you which ones.
What should I know about my numbers?
Roughly, not precisely. For a first conversation, approximate owner-reported figures are enough, and Signal View doesn't request seller financial documents Signal View Partners: How private buyer introductions work. On our form, the EBITDA range is optional and includes "Not sure" Signal View Partners: Owner inquiry form.
It still helps to know how a buyer is likely to look at the business. Factors acquirers consider include adjusted EBITDA, growth, recurring revenue, customer concentration, management depth and capital requirements Signal View Partners: For business owners (including owner FAQ). You don't need answers to all of them. A rough sense of how much revenue comes from your largest customers, and how the business would run if you took a month off, goes a long way.
Should I talk to my accountant and attorney first?
A short early call is worth it, even before anything is on the table. Taxes depend on how a sale is structured. The IRS treats the sale of a business as a sale of its individual assets, with gain or loss figured on each one, while selling stock in a corporation usually produces a capital gain or loss Internal Revenue Service: Sale of a business. Your advisers can tell you what that means for you.
Your advisers are welcome in a conversation with Signal View, and you choose who joins and when Signal View Partners: For business owners (including owner FAQ). Price, terms, financing and diligence are for you, a buyer and your respective advisers to work through Signal View Partners: How private buyer introductions work.
What should I ask in a first conversation?
Bring a few questions of your own. These keep the call about you and your business:
- What kinds of buyers might be interested in a business like mine, and why?
- What would you need to understand about the business before suggesting an introduction?
- When would my company's name be shared, and who decides?
- Can my accountant or attorney join?
- What happens if I say "not now"?
What can I skip for now?
- A decision to sell.
- A valuation or an asking price.
- Customer lists, employee records, detailed financial statements or a data room Signal View Partners: For business owners (including owner FAQ).
- A polished presentation about the company.
Is a one-page note enough?
Yes. Write a few lines under four headings: timing, the role you'd want, what you'd protect and who else has a say. Add the two or three questions you most want answered. Keep it for yourself or bring it to the call. Either way, the conversation will be shorter and more useful.
If you'd like to talk it through
Signal View Partners works with private investment groups and strategic acquirers. We provide acquisition sourcing, permission-based private introductions and follow-through. Buyers pay our fees. You owe us no fee and sign no exclusive engagement. We don't represent you, can't bind either party, and don't negotiate or accept terms for anyone. If a conversation would help, you can reach us through the owner inquiry form. If now isn't the time, keep the note anyway.
This guide is general information, not legal, tax, accounting, investment or valuation advice. Talk with your own attorney and accountant about your situation.
Sources
General information, not legal, tax, accounting, investment or valuation advice. Consider your circumstances with the appropriate advisers.