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FAQ

 Frequently asked questions


We have collected the following "Frequently Asked Questions" we believe it may help those interested in better understanding the business selling process. If you cannot find an answer to your question or if you have additional questions, contact us we will gladly assist and guide you through the process of how to sell your business.

  • What are Chriton’s fees? 

    There are many discount brokers offering very low fees, this attraction conceals there inexperience in selling or aiding you with your sale. We are not only experts but also very competitive and the fee we charge are standard in the industry, there is though a minimum fee which we charge when we agree to take your contract, this fee is accredited toward the final commission and it is placed for valid reasons.  
    Yes contact me I have decided to sell my business

  • When do I inform my employees that I am selling my business? 

    We can assist you on how and when to tell your employees in most cases the new owner, not to have disruption with the business, he will retain all the employees, there will be a clause in the contract dealing with this issue.

  • Will I have to sign a non-competition agreement? 

    Yes. Non-competition agreement covers the area from which your current customers are generated and the time period commonly is one to two years.

  • How long is the training period for the buyer?

    Generally, sellers provide two to four weeks of training in the business with equal time of telephone consultation. If you are financing portion of the purchase price, you have a financial interest in the business, properly training the buyer is in your best interest.

  • Will I have mortgage take back to insure a successful sale?

    Most business are purchased with sufficient funds to have a financial institution lend money for the chattels or the real estate if it is included in the business. At times, depending of the business you operate, financial institution may not advance sufficient funds to purchase the business and have an operating line and to insure a successful sale you may have to take a small Mortgage which can be registered on title to secure your funds, to insure that the sale can happen.

  • What types of offers should I expect to receive when I sell my business?

    If your business is properly priced the buyer will be easily convinced that it is in its best interest to be as close as possible to your price but the price is not the only essential part of an agreement, their proposal will contain a review of the financial books and records of the business, obtaining a satisfactory lease from the landlord if you are leasing the premises, an agreement on training the buyer and transition periods. Plus condition on financing and insuring that the business is what it is said to be as well as that all the necessary permits are in place.

  • How long will it take to sell my business? 

    Asking price, buyer’s ability to secure financing for the purchase of the business, local economic conditions, the nature of the business affects the length of time it takes to sell a business. In average to locate a qualified buyer may take up to a year although in many cases we have been able to locate a buyer within weeks, that is the power of our network. 

  • What can I do to help sell my business?

    Keep doing hat you do just like if the business is not for sale, Keep normal working hours. Do not let inventory levels dip below normal. .Remove equipment or furniture that is not part of the sale.  Keep the business clean and in good repair. Make sure your financial records are an accurate reflection of revenues, business expenses and assets/liability levels. Provide us with required information in a timely manner.  Be as accommodating as possible in setting appointments to meet with buyers. 

  • Does Chriton financially qualify the buyer when I sell my business?

    During the initial meeting we usually ask for a personal financial statement from the buyer, but do not verify the correctness of the information. Prior to submitting a proposal for you to review we will gather all the necessary financial information to insure that the proposal is not a waste of time.

  • How can Chriton assist me in determining an asking price and market it to potential buyers?

     We are experienced in the value of the real estate and most of the equipment that business may use to manufacture or operate their enterprise.
    We will show you how we arrive to the price taking in consideration essential information of your business and the value of the equipments and you are always welcome to call an independent equipment appraiser during our initial meeting to validate the value of the equipment.
    We have years of experience in developing an effective process to sell a business to prospective buyers. an give you the details during our initial meeting but to give you an idea we have a client base of investors in the USA, China, Hong Kong an naturally Canada. Your business will have broad exposure. Many buyers will relocate for the right business. To ensure your confidentiality, all marketing will exclude any specific information on your business.

  • I want to sell my business, what are the steps in the selling process?

    1. We, at Chriton Business Brokerage, can help you through the process as your learn how to sell a business. Below are the general steps we will use when we sell your business:
    2. We will help you identify the goals you expect to meet with the sale of your business.
    3. We will maintain confidentially during the sale of the business. Your employees, customers and competitors will be unaware that your business is for sale. We are well versed let us show you how to sell a business professionally and with discretion.
    4. We will screen potential buyers before presenting your business to them.
    5. We will arrange, at convenient time, meetings with potential buyers.
    6. We will evaluate a potential proposal to purchase your business based on market trends, financing matters and business law .
    7. We will do all negotiations between you and the potential buyer, until an acceptable deal is agreed.
    8. We will work with your legal and financial advisor to bring the agreement to a successful completion and transfer of you business. 

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