While preparing to sell your business you’ll need to create these key documents for any potential buyer.
FINANCIAL RECORDS
These include income statements, balance sheets, and cash flow statements for the past three to five years. Additionally, you’ll need tax returns and bank statements.
BUSINESS PLAN
The business plan provides an overview of the business, its strategies, and its market position.
LIST OF ASSETS
This document details all physical assets including equipment, inventory, real estate, and intangible assets such as patents, copyrights, and trademarks. Include purchase date, cost, and current value.
LEASES AND CONTRACTS
Copies of all current leases for premises, equipment, and vehicles and contracts with suppliers, customers, and employees should be compiled.
LEGAL DOCUMENTS
This includes the articles of incorporation for corporations or articles of organization for LLCs, partnership agreements, and any licenses and permits required to operate the business.