Define objectives and readiness
Before contacting buyers, owners often clarify objectives, timing, role after closing, confidentiality, and the information that is ready to share. A preparation review can surface gaps before they become process surprises.
Select experienced advisors
Owners may consult an M&A advisor or broker, attorney, CPA, and tax adviser. Engagement scope, fees, conflicts, confidentiality practices, relevant industry experience, and professional responsibilities vary; review them carefully.
Buyer outreach and initial interest
A process may involve confidential outreach, initial buyer conversations, and expressions of interest. Each transaction is different, and early indications are not binding offers or guarantees.
Diligence, definitive agreements, and closing
If discussions progress, parties may examine financial, legal, commercial, insurance, safety, and operational matters. Letters of intent, purchase agreements, working capital, contingencies, and tax treatment require advice from qualified professionals.