GUIDE
Preparing a business for sale
The records and the owner's weekly job, written down before a buyer asks.
Make the business readable
A buyer will ask for statements, a lease, a list of large customers, and what happens if you leave for a month. Preparing is gathering those answers while you still control the timing.
If personal expenses run through the company, identify them. Surprises in diligence do more damage than a lower starting range.
Separate the person from the process
Write the tasks only you do. Some can be documented. Some cannot, and the price should reflect that. Training a buyer is a term of the deal, not a footnote.
You can take a preliminary range while you prepare. Looking is not listing.
Questions
How early should I start?
Early enough to produce a year of statements you trust. Preparation does not shorten a sale by a set number of days.
Do I need audited financials?
Not always. Buyers do need statements they can follow. The next guide lists what they usually ask to see.