Getting Ready FOR SALE - Tip 3

Have 3 years of financials ready - Banks and other lenders will need this.

If your wanting to sell your business for +$100k, the chances are a potential buyer will get/need a bank or some kind of loan.  

Sadly lending groups won’t lend money because your marketing plan is pretty or because you have an amazing customer service background... they will need to see “Financials”.  (Such party poopers right!!)  At least 3 years of business financials to be able to make their decision on whether they will lend the money or not.  

So because this is the lending process, sellers need to be ready for this.... 3 years of financial history ready to go.

The last thing you want is a motivated buyer waiting for your financials to come through ... risk is they see another opportunity or another deal or just starting loosing motivation over time.