FAQs
How do I start the process?
Call or email The Jennessey Group. We are happy to meet with you and talk through the selling/buying process. There is no charge for talking and you might even get a free cup of coffee!
Who will help me find the best financing?
The Jennessey Group has built relationships with area lenders and can assist you in finding the financing you will need.
How do I find a business that fits my needs?
The Jennessey Group can help. After reviewing your interests and financial capabilities, we can better match you with a business.
Why should I buy a business?
- Be your own boss
- Desire to be properly rewarded for your efforts at work
- New challenges
- Desire to change your lifestyle
- Potential for higher income
- Investment income
- Tired of corporate bureaucracy
- Desire to be control your future
Why do owners want to sell?
Business owners sell good businesses for many reasons. Rarely is the reason for selling a business because it isn’t doing well. Here are some typical reasons business owners sell their businesses:
- Retirement
- Wanting to seek new challenges
- Desire to change their lifestyle
- Family matters
- Health concerns
- Relocation
- Death of the owner
- Other business interests
What are the commission fees?
Commission Fees are charged to the seller when the business is sold. No fees are charged to the buyer when purchasing a business represented by The Jennessey Group.
When am I updated about what is going on with the selling of my business?
Each time a qualified buyer decides to review your business, you will be contacted. Of course, you’ll be in contact with The Jennessey Group via telephone and email on a regular basis for the duration of the sale of your business.
How will The Jennessey Group market my business?
Your business will be advertised anonymously on our website (see our listings for examples) as well as other popular online business marketplaces. We also contact our extensive network of investors and potential buyers that we have worked with in the past decade that are looking for new opportunities.
How does The Jennessey Group determine market price for a business?
The Jennessey Group performs a comprehensive evaluation of the business. The foundation of our evaluation is financial data relevant to your specific industry. The data includes key ratios based upon the financial performance of your company.
In addition, we consult with experienced business brokers to draw upon their knowledge selling companies within your industry.
After obtaining an understanding of the general market for companies within the industry, we then incorporate the unique characteristics of the company to estimate a price that an independent third party would be willing to pay for the company based upon its financial performance. In addition, we utilize a cash flow model to ensure the financial parameters of a typical hypothetical deal structure, using the estimated value of the company, are appropriate for the purchase of the business.
As a final step, we compare the price that a buyer would be willing to pay based on financial performance of the company to the amount of money the company would receive if it liquidated its assets. The greater of the values is selected. If the decision is that it’s not quite time to sell, we will work with you over time, updating the evaluation annually, until you are ready.
How Do We Protect Your Confidentiality?
Confidentiality is the cornerstone of The Jennessey Group. Potential Buyers are required to agree in writing to The Jennessey Group’s Confidentiality and Non-Disclosure policies prior to releasing confidential information about your business. Only confidential information that you approve will be shared with potential buyers. Buyers financial information is held in confidence, as well.