So you want to sell your business?
Update your company’s financial statements and understand the nature of you firm’s revenues and expenses.
- Buyers will typically require 2 to 3 years of financial statements (profit-and-loss statements, balance sheets and/or tax returns) for their evaluation.
- Make sure you have supporting documentation for nonoperational expenses (fringe benefits such as your personal health insurance).
- Prepare a simple list of the business’s important furniture, fixtures and equipment.
- Document your inventory. If it is stale or obsolete, put it on sale or donate it. Your inventory should be lean and moving.
- Clean-up the accounts payable and any pending legal, employee or environmental issues.
Look for tip #5 next week.
Questions? Contact us, we specialize in business valuations plus we have over 40 years’ experience connecting buyers and sellers. Call us today! 612-467-9673
Sign Up for our monthly email newsletter
[contact-form-7 id=”213″ title=”Newsletter”]