Besides having the right attitude and mindset to sell a business, you also need documentation - and lots of it. But you might be wondering which documents you need to present your proposal correctly to the right buyer. We're here to help. Read more below to find out which documents we recommend having ready before reaching out to potential buyers for your business. 

What Documents Do I Need To Sell My Business?

When selling a business, you need to be transparent and open right from the start—being open and transparent means having the proper documents in order and updated for your potential buyers. The first thing you need to have is a financial review of your business. We recommend having documents from at least three years prior and including the current year in the review. This review requires specific documentation, including:

• income taxes
• annual and quarterly profits
• loss balance sheets
• cash flow reports

There are a few more things to add to this list, but what is mentioned above should be sufficient to start things off with. Other documentation should be related to your daily equipment, property information, average sales per customer, most considerable customer information, and your top ten clients. 

Having the following documents ready for review before attempting to contact a seller sets yourself up for success in the long run. The more information you have available, the better your chances of selling your business in a smaller amount of time. 

Discover More About Selling Your Business 

Selling your business can be tricky - but Vend Advisors is here to help. We are happy to help you sell your business to the right person for the best price, which will make you feel positive and at peace. To contact us today, click here.