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Q: How will WORLD SOURCE CENTER advertise my business? A: As soon a you agree to have WORLD SOURCE CENTER advertise for you, your business will be marketed in our extensive database of qualified buyers. We advertise through many different methods, including the Internet, our own website, and several other business listing websites. This ensures that your business is seen by hundreds of thousands of potential buyers. Additionally, we will run confidential, general advertisements in local newspapers .
Q: Will the selling process take very long? A: There are many different factors that decide how long it takes to sell your business - your asking price, whether you will finance the buyer, the industry that your business is in, and the current market conditions. Most businesses take 2 to 6 months to find the right buyer and negotiate the terms of the purchase.
Q: Will I be protected on the financing that I provide the buyer with? A: To ensure your protection, a promissory note and security agreement will be prepared for you by your closing escrow agent. Additionally, your agent will file a UCC-1 financing statement with your state and local agencies.
Q: For how long will I need to train the buyer? A: Most sellers provide 2 to 8 weeks of hands-on training, and an additional 2 to 8 weeks of telephone consultation. Properly training the buyer is in your best interest if you are financing the buyer.
Q: When should I inform my employees about my desire to sell? A: We feel that it is best to inform your employees about your intentions immediately before or after the sale is complete.
Q: Does WORLD SOURCE CENTER financially qualify each potential buyer? A: No. While we do usually ask for personal financial information from the buyer, we do not verify that the information is correct. Aside from a credit report on the buyer that we can run, it is your responsibility to qualify the buyer. We have some SBA forms that will help you obtain the appropriate financial information from the buyer.
Q: Is there anything I can do to help sell my business? A: Yes. Some ways that you can help sell your business include keeping normal working hours, making sure that your financial records are accurate, keeping the business clean and tidy, being accommodating with buyer meetings, and providing us with necessary information in a timely manner. |
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