So you want to sell your business and are ready to take the first step.

For many owners, since this is not something they do on a regular basis, the first step is learning about all the steps, or the process they will be going through to sell their business.

Getting an overview and grabbing a picture of the road ahead makes total sense.

So below, in a simplified form, are the steps in the process. In later blogs we will examine the steps in more detail.

Steps to the process of selling your lawn & landscape business:

Getting ready to sell

  • Preparing yourself and your business
  • What got you to this point – age, health, burnout, etc.
  • Understanding “retirement”

Selection of Your Team

  • Retain expert M&A advisory team
  • Client suitability
  • Industry knowledge/experience

Evaluation of the Business

  • Financials
  • Research
  • Valuation

Offering Memorandum/Prospectus

  • Detailed report on company & its financials, etc.
  • Create Seller’s Bible
  • The result of the Evaluation

Go to market or enhance value decision

  • Need an additional 3 years of positive trending?

Exit planning for Seller

  • With either option above

Develop buyer profiles/prospects list

Contact targets

  • Calls
  • Send teaser or profiles to prospects

Execute Confidentiality Agreements

  • Both sides agree to keep the deal discussions and materials confidential

Distribute Offering Memorandum OM (once CA signed)

  • Or Confidential Information Memorandum (CIM)

Buyer visits (can happen at other points in process)

  • Management meetings

Receive offers based on CIM

  • Buyer’s submit offers

Controlled auction

  • Renegotiate

Negotiate deal

  • Terms such as price/terms

Letter of Intent (LOI)

  • Non-binding offer to purchase
  • Exclusivity in LOI
  • Select one buyer
  • Includes basic framework of deal/price/terms

Due Diligence

  • Confirm Seller’s claims
  • “Kick the tires” period minimum 2 months
  • Tighten-up the deal

Stock or Asset Purchase Agreement

  • Negotiate & produce final agreement
  • Create legal binding document
  • 336H selection


Post Closing