Checklist: Preparing to sell your business

Selling your business is often about readying for one of the largest deals you’ll ever make. As is the case with selling a house, the time you take to improve the property will pay off in a higher sale price.

Preparing your business for sale requires extensive planning and the help of advisors, including lawyers, accountants, valuators and commercial realtors. Use this checklist to help you increase the value of your business prior to sale, determine objectives for the sale of your business, get the help of experts, find potential buyers and understand the logistics of a business transfer.

Why do I need a checklist to prepare my business for sale?

There are many steps to get ready to sell a business. Start by understanding why you’re selling your business so you can understand its value, set a target price for your business and find the right buyers.

How do I do I prepare my business for its sale?

Use this checklist as a step-by-step guide to prepare to sell your business:

  • determine what you want to achieve by selling of your business
  • create a team of advisors, including lawyers and business brokers
  • figure out how to increase the value of your business
  • conduct financial due diligence by updating and verifying financial and HR records
  • determine the value of your intellectual property

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