Some Statistics:

  • A business can take 3-12 months to sell.  A business with lower revenue/cash flow may take longer
  • 1/3 of all businesses for sale actually sell. Many are over-priced, there is lack of financial data available, not enough track record, employee problems, or not profitable
  • 65% of business owners do not know the value of their business
  • 85% of business owners do not have an Exit Plan
  • 80-90% of all business enterprises in the US are family owned and account for 60% of total employment

There are many different reasons for selling:  Retirement, bored with the business, partnership dispute, divorce, relocation, employee issues, etc.  Whatever the reason, it is important to be 100% sure that this is the right decision for you. Timing is important, but the right time to sell is when YOU are ready and committed.

The First Step

During our meeting, we will discuss the business history, financials, the leased space or real property involved, condition of equipment, customer base and many other considerations useful in determining the selling price. All information is strictly confidential.

A checklist of the items you should have available if you decide to proceed with listing the business for sale is outlined below:

  • Three years’ profit and loss statements
  • Federal Income tax returns for the business
  • List of fixtures and equipment
  • The lease and lease-related documents
  • A list of the loans against the business (amounts and payment schedule)
  • Copies of any equipment leases
  • A copy of the franchise agreement, if applicable
  • An approximate amount of the inventory on hand, if applicable
  • The names of any outside advisors