Seller Information Required   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.       Bizology - the study of business for sale Bizology.com email to : info [at] bizology [dot] com Chambersburg, PA 17201-1712       BUYING* * FOR SALE * CONTRACTS - FORMS * FINANCIAL * REFERENCE * TAX - LEGAL * BOOKSTORE * * SELLING * | buyer questions | buyers ask | seller finance | business disclosure | seller proceeds | | information list short | business information long | records needed | seller questions | seller non-disclosure | | seller carryback notes. | seller mistakes | partner fraud | business requests | | main index | | you are in SELLING now |