PREPARING YOUR BUSINESS FOR SALE
Buyers ask a lot of questions when looking at buying a business, so it’s a good idea to have your business documents organised and up to date.
Below is a guide to the type of information that is asked for by buyers:
Finances and Assets
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Financial statements (for as far back as possible) – cash flow statements, annual turnover, and profit and loss statements
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Details of physical assets such as equipment, and stock
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Details of other assets such as goodwill towards the business and intellectual property
Legal information
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Legal documents such as leases and insurance policies
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Registration papers such as business name certificates, Australian Business Number (ABN) registration papers, licenses, and permits.
Business Profile
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Business history such as start date, ownership changes, and location changes
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Sales information such as reports and forecasts
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Market conditions such as details of competitors, and how your business compares to them
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Business documentation such as marketing, staff roster and customer service procedures
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Other such as opening hours
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Staff, Supplier, and Customer Information
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Employee details such as job descriptions, skills and pay rates
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Supplier details such as supply agreements and supply prices
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Customer details such as customer numbers, customer profiles and direct marketing activities
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Check List
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The next steps directly after we have listed your business will be for you to have the following information ready for buyers that are showing a keen interest in looking at your business.
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The information is also required for due Diligence by buyers
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Roster showing all staff including if the owner is on the roster. ̈ Staff pay rates
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Business registration
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Full equipment list
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Invoices from coffee supplier to prove amount of coffee purchased
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Full lease
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Profit & Loss showing turnover, cost of goods, outgoings, wages, profit, and costs ̈ BAS Statements
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Proof of daily takings
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Rental Invoices
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Electricity Invoice
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4 weeks actual till receipts
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Proof of insurance cover
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BAS Statements