Firm Exchange: Reimagining the Small Business Sale | The Firm Exchange Blog

Firm Exchange: Reimagining the Small Business Sale

Post written by Firm Exchange on October 4, 2018

The Firm Exchange platform is built from the ground up to help those selling small businesses—both owners and brokers alike. More than just a listing site, Firm Exchange supports the entire deal life cycle to make the process easier. We offer several integrated, online tools designed to save sellers both time and money.

Helping Small Business Owners

If you own a small business and are contemplating retirement, consider selling your business on Firm Exchange. Too often business owners walk away from their business without considering a sale. If you have a profitable business with steady cash flow, you have an asset someone may be interested in buying.

And now is a great time to consider whether a sale makes sense for your situation. The U.S. economy is strong, and as a result, many small businesses are performing well enough to earn a good sale price. Often, the more profitable deals occur when the conditions are ripe for a sale to take place, not necessarily when a seller is being forced to sell.

Our listing creation tool can help you get started today. When your listing receives an inquiry, our Exchange Space offers a streamlined virtual conference room for discussions, complete with document storage. Conduct due diligence, share documents, and track deal progress all in one place.

Helping Business Brokers

For business brokers, we know how important it is to stand out and attract more leads. That’s why we have put in place a multi-channel digital marketing campaign to drive traffic to the site. And once buyers get here, they’ll find an ad-free platform that will keep them focused on your listings.

Grow your client base by adding your profile to our Professional Directory, free of charge. And as you grow, you’ll benefit even more from subscribing to our monthly plan, which offers unlimited listings for one low price.

Why Firm Exchange?

Firm Exchange was born out of the idea that a little bit of technology can create an easier and better experience. Increasingly, more and more small business buyers are looking online to find their next opportunity. As someone looking to sell a business, it’s important to fish where the fish are while still feeling confident in the process.

A retiring restaurant owner uses Firm Exchange to make his small business sale easier..
The Firm Exchange platform provides technology that supports the sale process, making it easier and more efficient.

Here are some of the unique features of the Firm Exchange platform that can help you sell a small business:

Exchange Space

Gone are the days where you conduct a deal across hundreds of separate emails or invest in expensive file sharing and deal management solutions. Included in your listing purchase is our streamlined virtual conference room. Invite advisors, share files and conduct due diligence all from within the platform.

Central to keeping the deal on track is the included Diligence Center, custom built to handle the needs of a small business sale. Organize conversations and shared documents by topic and easily see the status of each topic. This is even more important when working with multiple would-be buyers simultaneously.

Historical Financials Tool

Financial due diligence will often be the primary focus of buyers, particularly if they need financing for purchase. Showing historical cash flow and developing a business plan are both critical pieces to obtaining an SBA loan, one of the most common funding sources for small business buyers.

The Firm Exchange platform formats the financials into a detail financial statement view as well as a summary report that includes summary trends of revenue and expenses. Adding financial information makes it easy to share financials with buyers in an Exchange Space. Additionally, including financials increases the listing’s Listing Completion Rating, increasing its placement in search results. A true win-win.

Custom Fields

Personalize your business listing with up to five custom listing fields. Highlight business- or industry-specific items not covered in the general listing form. This helps you stand out and gives buyers critical information about the business before they contact you.

More Intuitive Search

Most business listing sites only allow buyers to search by county. This can limit when your business shows up in results, even if it is close by. Our zip code and radius search is a more familiar and intuitive experience for most users.

To celebrate our recent launch, we are offering special introductory pricing.  Join Firm Exchange today and see how our platform can help make your deal a success.

DISCLAIMER: The information contained in this article is for informational and discussion purposes only, and should not be relied upon without seeking your own professional advice. The Firm Exchange, LLC is not a law firm, accounting firm or professional services firm, and accordingly it disclaims any liability for any reliance on the contents of this article. As each situation is unique, you are encouraged to discuss your specific situation with a qualified attorney, accountant and/or other relevant professional services provider.