The first and most important stage before we take listing from a seller is to make the determination of the value of the business. We ask seller to make a stated Income and Expense Statement, and then support it by accountant prepared Profit and Loss Statement. This gives us sufficient information to make preliminary valuation of the business based on normalized cash flow. The technical jargon for this is ‘Seller’s Discretionary Earnings’ [SDE]. In simpler words, it is what cash flow the business generates for the seller after paying for one owner’s fair market salary, fair market rent, usual business expenses, and removing non-cash and non-business expenses. We do valuation of a business based on a number of factors and convince the seller to set price on it. These factors are a combination of art, science, and risk level of the business. If the seller is comfortable, we help the seller to evolve terms of sale that will motivate and enable the buyer to make an offer on it. Evolving of the terms of sale can get complicated depending on the complexity of business. We take listing of the business after we convince the seller for the price and terms of sale. Our best bet is on popular internet sites, and secondarily on multiple listing services to broaden the circulation. In the case of midsize businesses, we do confidential mailings to a select list of business owners who may get interested in acquiring or have the business merge with their business for best of mutual benefit. Confidentiality of our marketing process is extremely important to the seller, the buyer, and us. This is where we play our interface role to facilitate bringing seller and buyer on the settlement table to closure.