In order to properly package and market your business, your
broker needs a lot of information.
- To start, have prepared the last five years tax returns (Federal
and State); sales tax returns, Income and Expense reports.
- A copy of the lease and all amendments; accurate list of
all assets (FFL); franchise agreement, UFOC and transfer requirements;
any loans on the business (can they be assumed?); the last three
months state sales tax returns with canceled checks; the last
12 months utility bills; personal property tax bills; sample
inventory list; brief history (your story) about the company;
local points of interest; a short description of the employees
and their responsibilities and salary history; copies of sample
marketing materials, advertising, yellow pages; and if you could
change one thing about the business, what would it be.
It is important you understand that these are not for the
buyer... there is power in negotiating when this is all available
immediately. If your broker calls and says there is an offer
subject to viewing... and it takes you two weeks to compile the
data, the buyer is gone. You do what you do best and let your
broker do what he does. Just give him/her the tools.