What information do I need to sell a business?

answered 2012-01-23 12:10:53 -0500

@mjking
336 ●2 ●10 ●20 http://www.kiddermathews....

Adam, Here is a form I have used to get details on a business. You should have interested parties sign a confidentiality agreement before releasing this information. Send me a message if you would like the formatted version of this form.

1. Business Name
2. Business Address
3. Business City/State/ZIP
4. Owner(s)’ Name
5. Owner(s)’ Home Address
6. Owner(s)’ Home Phone Number
7. Corporation [ ] Partnership [ ] LLC [ ] Sole Proprietor [ ]
8. Years Present Owner(s)
9. Year Business Established
10. General Summary
11. Support & Training (include the current duties the owner performs)
12. Will owner sign a non-compete? Yes [ ] No [ ] If Yes: How Long? How Many Miles? _
13. Gross Sales 20 to 20_ $__ 20 to 20 $__ 20 to 20 $__ 20 to 20 $__ 20 to 20 $___
14. Net Profit 20 to 20_ $__ 20 to 20 $__ 20 to 20 $__ 20 to 20 $__ 20 to 20 $___
15. Principal Product or Service
16. Union Shop Yes [ ] No [ ]
    If Yes: Which Unions?________ Expiration of contract(s)______ Copy of contract(s) on file?_____ Name of union rep(s)_______
17. Do employees know business is for sale? Yes [ ] No [ ]
18. Owner will train for __ weeks at no cost
19. Saleable inventory included at cost in sale price? Yes [ ] No [ ]
    a) Inventory __________ b) Work in Progress ________ c) Accounts Receivable ________
20. How is cost calculated?
21. Are vehicles included in sale price? Yes [ ] No [ ]
    If Yes: Model & Year ________
22. Value of furniture, fixtures, and equipment included is sale _____________
23. Equipment list attached? Yes [ ] No [ ]
24. Lease or long term contracts on equipment Yes [ ] No [ ]
    If Yes, please describe:
25. Will key employees stay with new owner? Yes [ ] No [ ]
26. Is office computerized? Yes [ ] No [ ]
27. Seating capacity? ___ Parking capacity? _____
28. Home based? __ Relocatable? __ Franchise? __
29. Expansion Potential (Describe the expansion potential and current opportunities)
30. Condition of Building
31. Condition of FF&E
32. Best time to show business
33. Living accommodations? Yes [ ] No [ ]
34. Hours of operation Mon. Tues. Wed. Thurs. Fri. Sat. Sun. Open
    Close
35. Are recipes/trade secrets included in sale? Yes [ ] No [ ]
36. Is business name included in sale? Yes [ ] No [ ]
37. Is the business phone number and website included in sale? Yes [ ] No [ ]
38. Will owner consider working for new owner? Yes [ ] No [ ]
39. Number of employees: Full-Time __ Part-Time __ 40. Key Employees Position Salary
40. Accountant Contact Info Name __________ Address__________ Phone Number ________ Email ___________
41. Lawyer Contact Info Name __________ Address__________ Phone Number ________ Email ___________
42. Landlord Contact Info Name __________ Address__________ Phone Number ________ Email ___________
43. Lease Information Rent Per Mont __ Sq. Ft. _ Remaining years on lease _____ Is lease assignable _______ Is landlord aware business is for sale? ___
44. Average utilities per month
45. Average payables per month
46. Approximate working capital on average
47. Is real estate included in sale price? Yes [ ] No [ ]
    a) Location __________________ b) Approximate Dimensions _____________ c) Material Structure _______________ d) Appraised Value _______________ e) Date Appraised _______________ f) Appraiser _________________ g) Assumable Mortgage ______________ h) Mortgage held by _______________
48. On display but not included in sale
49. Owner will carry mortgage Yes [ ] No [ ]
    If yes: At _ % for years at $_ per month

Owner Signature

Date