Documents and Information Required To Sell a Business
Have you decided that it’s the right time to sell your business in New Jersey? If so then you may want to consider hiring a business broker to help facilitate the sale of your business.
There are various reasons why potential buyers might be interested in your business, but their main priority would be the bottom line it can give them in the long run. For this reason you will want to have the following documents in order as they will support your asking price for your business.
Primary Documents and Details To Consider While Selling A Business
The following list are the primary documents you will want to have in order prior to listing your business for sale.
- Accounting Information: You will want to have a copy of your financial reports such as your taxes and P&L reports for the last 3-5 years.
- Landlord/Tenant Information: You should have a copy of your lease agreement on hand. These documents may vary depending on whether or not you own the property your business runs out of.
- Equipment leases/Service Contracts: Depending on the type of business you own, you may have numerous leases for your equipment, furniture, or other items within your business.
- Customer lists: In many instances having an established customer list which lists business transactions can be attractive to potential buyers. Having this information is the difference between the buyer just starting their own business versus buying yours. Having an organized customer list will‚ without a doubt‚ add value to your business.
- Miscellaneous: Any additional information you can provide to a prospective buyer will make your business appear more attractive and can be helpful in the process.
Get Help From Professional Business Brokers in New Jersey
Given the amount of detail entailed in selling a business, it’s only reasonable to have experts who can guide you through each stage of the process to ensure that everything goes as smoothly as possible. This is where business brokers come in.
These professionals specialize in working with business owners to complete the sale of their business successfully while maintaining confidentiality throughout the process.
The business brokers at Midway Business Brokerage have specialized knowledge in many aspects of business transactions enabling a smooth sale process, which includes business valuations, negotiating with prospective buyers, as well as smart decision making skills, so you can get the end results you’ve always wanted.
Want to know how our brokers at Midway Business Brokerage in New Jersey can help? Give us a call today at 732-508-0598 and let’s talk about how we can help you sell your business.
