{"id":899,"date":"2022-10-11T16:56:43","date_gmt":"2022-10-11T20:56:43","guid":{"rendered":"https:\/\/moreault.com\/?p=899"},"modified":"2022-10-18T08:03:17","modified_gmt":"2022-10-18T12:03:17","slug":"just-like-buying-a-car","status":"publish","type":"post","link":"https:\/\/moreault.com\/en\/just-like-buying-a-car\/","title":{"rendered":"Just like buying a car !"},"content":{"rendered":"\n
\"Just<\/figure>\n\n\n\n

I received a purchase offer for my company.  What should I consider first?<\/strong><\/p>\n\n\n\n

If you ever purchased a car, you\u2019re certainly much more experienced than you think. Let me tell you why that is.<\/p>\n\n\n\n

1st<\/sup>\u00a0step:\u00a0<\/strong>You\u2019ve carefully considered and chosen the model that meets your needs. You\u2019ve compiled a list of dealerships and you\u2019re visiting all of them, one by one. That\u2019s probably what the person looking at your business is doing right now.\u00a0\u00a0\u00a0<\/p>\n\n\n\n

What to do?\u00a0<\/strong> Don\u2019t assume that the person is ready to negotiate but be prepared to welcome them if you want to sell your business.\u00a0 If not, tell him that the 2022 model is no longer available and that you\u2019ll contact him when the new models arrive.\u00a0 Take the opportunity to ask them about the specific model that they\u2019re looking for and how they would like to finance his purchase.<\/p>\n\n\n\n

2<\/strong>nd<\/sup><\/strong> step: <\/strong>The buyer arrives at the dealership.  All the staff knows that he\u2019s not an employee and that he deserves royal treatment. <\/p>\n\n\n\n

What to do?\u00a0\u00a0<\/strong>Let the people around you know that this is a customer. At a car dealership, it\u2019s required to roll out the red carpet and treat the customer well.\u00a0 In a business, it should be the same. All that\u2019s left is to show the buyer what he wants to see, or rather what you think he should see.\u00a0 This is a courtesy visit.<\/p>\n\n\n\n

3<\/strong>rd<\/sup><\/strong> stage: <\/strong>The buyer expresses his desire to go further into the process.<\/p>\n\n\n\n

What to do?\u00a0<\/strong>It\u2019s time to determine what vehicle the customer wants and choose its options.\u00a0 In a business context, the buyer may not want to buy the building. \u00a0They may be interested in the one-year manufacturer\u2019s warranty in return for your valuable services, but not want the extended warranty.<\/p>\n\n\n\n

4<\/strong>th<\/sup><\/strong> step: <\/strong>Provide a written transaction outline and perform a credit check.<\/p>\n\n\n\n

What to do?\u00a0\u00a0\u00a0<\/strong>There might not be a formal sales contract yet, but you\u2019ll find the agreement\u2019s outline in the Conditional Offer to Purchase document.\u00a0 In business, this document is called a Letter of Intent (LOI).\u00a0After this, the dealership will run a credit check.\u00a0 This step should not be neglected, because no credit means no transaction!\u00a0In business, sellers often assume that the buyer has the means to fund his ambitions.<\/p>\n\n\n\n

5th<\/sup>\u00a0step<\/strong>: The contract!\u00a0Just like in the car business, you will be presented with a contract that is difficult to read and full of details. Please take the time to at least read the outline!<\/p>\n\n\n\n

What to do?   <\/strong>In the highly competitive field of automobiles, there is an increasing number of good advisors ready to help you. In business, your lawyer and accountant will have an important role to play.  Take their wise advice in consideration, while ensuring that your wishes are respected and that everyone involved is in sync.  A baby-blue car is not a navy-blue car.  If your advisors are unsure and hesitant, show them a picture or a color sample \ud83d\ude0a.  <\/p>\n\n\n\n

Yes, we are experts in those types of transactions!  Do not hesitate to contact us if a buyer is soliciting you.<\/p>\n\n\n\n

Have a good transaction!<\/p>\n","protected":false},"excerpt":{"rendered":"

I received a purchase offer for my company.\u00a0 Which steps should I consider? You certainly have much more experience than you think.\u00a0 Remember the last time you bought a car, and let\u2019s do a parallel with what you are about to live.<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[2],"tags":[41,82,87,84,86,83],"class_list":["post-899","post","type-post","status-publish","format-standard","hentry","category-news","tag-acquisition-2","tag-buyer","tag-expert-2","tag-investment","tag-lawyer","tag-seller"],"acf":[],"yoast_head":"\nJust like buying a car ! - Moreault<\/title>\n<meta name=\"description\" content=\"I received a purchase offer for my company.\u00a0 Which steps should I consider? 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