Negotiating the sale of your business is a high-stakes voyage. If you rush into the deep water too quickly, you risk running aground on minor details. If you move too slowly, you lose momentum.
At David Mayfair, we use a two-phase navigation system to ensure that your deal doesn’t just look good on paper, but actually reaches the finish line.
Phase One: The Letter of Intent (LOI) – Setting Your Course
Think of the LOI (or Term Sheet) as your initial map. It’s a non-binding document that outlines the “Who, What, and When” of the deal.
The goal here isn’t to solve every tiny detail—doing that too early is like trying to negotiate a prenuptial agreement on a second date. It kills the “honeymoon phase” and creates unnecessary friction. Instead, we focus on the big picture:
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Who: Identifying the legal entities and decision-makers.
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What: Defining the purchase price and what is (and isn’t) included in the asset sale.
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When: Setting clear timelines for due diligence and the target closing date.
The Exclusivity Clause: One critical part of the LOI is the “no-shop” period. Buyers won’t invest time and money into due diligence if they think you’re still dating other suitors. We help you leverage exclusivity to get better terms, like a higher price or a faster closing, while ensuring the timeframe is fair to you.
Phase Two: The Purchase Agreement – Battening Down the Hatches
Once the LOI is signed, we move into the binding Purchase Agreement. This is where we get into the “nitty-gritty”—non-compete agreements, training protocols, and specific legal warranties.
At this stage, the Mayfair Method is all about flexibility without sacrificing value. We help you prioritize what matters:
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Keep Your Cool: Selling a business is emotional. If a buyer takes a ridiculous position, don’t let it derail the deal. We act as your “buffer,” keeping the conversation professional and focused on the big picture.
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Trade Minor for Major: Sometimes a small concession from you (like an extra week of training) holds massive value for a buyer. We help you use those “bargaining chips” to protect your monetary payout.
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The “We” Mentality: We encourage owners to speak in terms of “the company” or “the team.” The more the buyer sees the business as an independent entity—rather than just “you”—the more confident they feel about the transition.
Why You Need a Quarterback
Most deals fail not because of the numbers, but because of stubbornness. When both parties get locked in an ego battle over a minor clause, the ship sinks.
Our job at David Mayfair is to keep the wind in your sails. We manage the heavy lifting of the negotiations so you can stay focused on keeping your profits high during the transition. And remember: we don’t charge retainer fees. We are as invested in reaching the destination as you are.
Are you ready to start your next chapter? Let the David Mayfair team navigate your sale with the expertise and transparency you deserve.
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