Have you got your financial information in good order to be able to withstand the scrutiny of a savvy buyer and their team of CPAs, Attorneys and Lenders?
What’s on your balance sheet?
How about the FMV (Fair Market Value) of your FF&E (Furniture, Fixtures and Equipment). Do you know all FF&E you have on hand? A physical walk through and inspection will be necessary to show a buyer what they are buying.
How about the value of your inventory, the items your company produces/provides for re-sale? Do you know how much is “good” and how much is “bad” inventory?
What about your vendors? Do you have a complete list of all vendors from whom you acquire your materials and supplies?
What about a complete customer list with concentration of sales for each?
Leases for real estate and equipment used in the business?
Copies of non-compete and compensation packages for key employees?