BWFA Now Offers Tailored Services for Business Owners

BWFA has added a new department that we are calling Business Services. I’m proud to have joined the BWFA team to deliver a comprehensive approach for selling and buying small- and mid-sized privately held businesses.

The idea for offering business services actually came from our clients. Over the years, BWFA has worked with numerous clients who own privately held businesses that are their largest financial asset. We have seen them face challenges in turning these often-illiquid assets into cash that can fund a comfortable retirement. As we have worked on pieces of the puzzle, we have realized that offering a comprehensive approach to help them sell and buy businesses is a very good fit with the existing services that BWFA offers investment management, financial planning, or tax services.

Here is an overview of the initial Business Services that BWFA is offering: 

Business Succession Planning and Execution Services: 

Business succession planning and execution services assist business owners in understanding the market value of their business so they can optimize the result when they decide to sell. In addition, having this information aids in the actual preparation of the business for sale and the confidential execution of the sales process. 

Business Valuation:

BWFA’s business valuation team will determine the current market value of the business. We will also give the owner input about when is the ‘right’ time to sell to obtain the proceeds to meet their retirement needs. 

Preparation of Business for Sale

Our thorough review of all aspects of the business will help the owner identify which areas can be improved to increase the value of the business to be sold. This analysis is done with our team’s experience regarding what buyers look for when acquiring businesses. For example: Are the business’s financial statements up-to-date, clear, accurate and detailed enough to maximize the proceeds of a sale? What areas of operational due diligence will the buyer likely want to study? Does the business have proper legal documentation to facilitate a sale? 

Business Sale 

The actual sale process includes many complicated steps, and BWFA will be there along the way. We can help develop materials to confidentially market the business for sale, identify potential buyers, and obtain initial offers. After offers have arrived, we can negotiate for the best offer and terms, and then guide the owner towards selecting attorneys and CPAs who will help with the sale of the business. Even down to the final due diligence, creation of purchase documents, and financing of the acquisition, our staff can provide insight and input to close the sale to everyone’s satisfaction. 

Business Acquisition Planning and Execution Services:

Existing business owners looking to grow their business through acquisition of another business and seasoned corporate executives who want to own their own business can benefit from BWFA’s business acquisition services. 

Business Targeting

With our deep contacts throughout the region, we can provide input about selecting the type, size, and geography of the business to be targeted for aquisition. With targets in mind, we can create marketing materials to confidentially reach out to a select set of businesses, based on criteria established with the business buyer.

Business Acquisition

Acquisitions are complicated, and any business owner will want advisors on his/her side. BWFA can help with preparing confidentiality agreements with prospective acquisition targets and with negotiating the offer. We can draft a letter of intent to buy a business and work with other experts on due diligence, creation of purchase documents, financing, and more. We have experience and solutions for each step along the way leading up to — and beyond — the close of the sale. 

*If you want to confidentially discuss how BWFA can help you sell, or buy a business, please call today and set up a meeting with a BWFA Business Services professional.

By Michael Mathews