Helpful Hints In Preparing Your Business For Sale

Look at Your Place of Business Through a Buyer’s Eyes

Appearance:

• Replace or clean carpet.
• Repair damaged flooring.
• Replaced stained ceiling tiles.
• Paint or touch-up as needed throughout.

Furniture, Fixtures, & Equipment:

• Repair, replace, or remove all damaged equipment.
• Remove personal items which do not convey from the premises.
• Prepare an equipment list of items which do convey (do not include leased equipment on this list).

Documentation:

• Locate premises lease and review; if necessary, negotiate additional renewal options with landlord.
• Locate last 3 years income tax returns and P&Ls.
• Have accountant prepare year to date P&L.
• Locate lease agreement for any leased equipment.
• Gather all register tapes and credit card reports.
• Gather bank statements for year to date and previous tax year.
• Prepare vendor list with names, addresses, telephone numbers, and contact information.
• Prepare contact information for insurance carrier(s).
• Prepare contact information for credit card processor.
• Locate all wage reports from accountant or payroll service.
• Gather itemized list of employees, wage rates, and job descriptions.