Is Your Business Ready for Sale?

We have helped hundreds of clients with the purchase or sale of a business, and we have seen first had the difference it makes when the business is ready for sale. Fewer delays, a smoother closing, lower legal and accounting costs and sometimes even a higher sale price are some of the benefits for the prepared seller.

Here are some steps you can take now to get your business prepared for a sale:

  1. Get the financial records up to date.
  2. Separate personal assets and expenses from the business.
  3. Ensure the corporate records are up to date.
  4. Update your operations manual (or create one).
  5. Document and organize the licenses, permits and significant contracts.
  6. Put key employment and independent contractor agreements into writing.
  7. Resolve outstanding business disputes (with customers, suppliers, ex-employees, etc.).
  8. Prepare an asset list.
  9. List any consents required for the sale (landlord, franchisor, lender, etc.).

We offer a comprehensive Business Legal Checkup to identify outstanding legal issues, and our Business Sale Navigator® program is designed to assist business owners through the sale process. If selling your business is on your radar, give us a call.