The Jennessey Group uses
various vehicles to market your business, in a professional,
discrete, anonymous format. They include, but are not limited to:
our private, qualified buying pool, buybiz websites that we
subscribe to, local newspaper classified ads, as well as our own
company website. The seller controls how
identifiable the business description reads to the
public.
Yes, confidentiality is the cornerstone of The Jennessey
Group, LLC. All information you share with us will be held in
strict confidence. Only information you approve will
be shared with potential buyers. Potential buyers are
required to agree in writing to The Jennessey Group's
Confidentiality and Non-Disclosure policies prior to releasing any
information about your 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.
The Jennessey Group, LLC are
members of the Cedar Rapids Area Chamber of
Commerce, the International
Business Broker's Association
(IBBA), and the Better Business Bureau, Business
Valuation Market Data,and Midwest Business Brokers &
Intermediaries(MBBI).
There are many factors to consider when determining an
appropriate price for a business. The amount of money generated by
the business to be used at the discretion of the owner
(discretionary cash flow) is very important. Also important is the
industry, business trending, value of the assets, location of the
business, and the owner's quality of life.
Business owners sell good businesses for many reasons,
including the following: retirement, family matters, health concerns,
relocation, owner death, other interests, and wanting to cash
out. Rarely is the reason for selling a business because it
isn't doing well.
The Jennessey Group can help.
After reviewing your interests and general capabilities through an
interview process, we can better match buyers with a business.
The Jennessey Group has built
relationships with bankers and other commercial lenders, and
can assist buyers in finding the financing they will
need. It is common place for The Jennessey Group to prepare
a complete loan request packed and hand deliver it to several
banks within our network. However, it is ultimately the
buyer's responsibility to acquire financing.
Business owners are
committed to providing the following: Tax returns for the
business for 3 previous years, profit & loss statements for
the current year, list of tangible assets, training for the buyer
(by seller) at no additional charge, as well as lease information
(if applicable). In the course of your due diligence
investigation of the business you are permitted to ask for
additional detailed information and enlist the help of your
attorney and accountant to ensure that you recevie the information
you need.
The
Jennessey Group charges no upfront fees. Fees are charged to the
seller and only when the business is sold. No fees are charged to
the buyer. The standard fee is 10% of the sales price for
businesses valued at less than $1,000,000 or a $10,000.00 minimum,
whichever is greater. There is a sliding scale for
businesses that sell for over $1,000,000 dollars.
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