If you are going to sell a Car or something similar what is the first thing you will do before any prospective buyers will look at it?
Clean it and prepare it, so its ready for presentation of course … and your business is the same however substantially much more complex. The degree of preparation will depend on the size and type of business you have, either way the starting point is the same but your historical management may have an impact on whether you have good average or poor information on hand.
Your starting point is your financial information.
- Profit and loss statement (income statement) at least for the past 3 years
- Balance sheet at least for the past 3 years
- Historical tax returns matching 1 & 2 above
- Interim Management accounts Year to date for Profit and loss and balance sheet
- Cash flow statements for the above periods
The more information your have prepared in advance the easier it will be to have meaningful discussions with a prospective buyer. This is just a starting point in future posts I will discuss more information.
If your business is more than 5 years old and your are a manufacturer or Wholesale/Distributor we may be interested in your business please Contact Us for confidential discussions. We are not brokers or are we trying to sell any services.