----- quick what's needed summary
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complete the due diligence
The buyer will perform a due diligence on the business prior to closing. He or she will examine the books, check the facilities and inventory, review the records to confirm the representations made by the seller, and interview the owner on the market strategy.
Two highly important objectives must be met:
- Keep the process moving —
you don't want delays. We keep prospecting for
buyers until the deal goes through.
- Assigning someone as the point person
to address issues between the buyer and
seller.
What is Due Diligence?
review the company premises review the company operations analyze the financials (generally the buyer will bring in their financial or CPAs to view the numbers). interview the owner and current management (particularly employees or managers that will remain with the company under new ownership). view the assets that are for sale complete a top-down review of the company
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Business Selling Prep
