Thinking about selling your business? What do you need to do first?
Ed Smith, Nevada’s Top Business Broker, can help answer all of your questions any time!
Email Ed or call 702-274-7320
What You Need to Sell Your Business:
Profit & Loss Statements (P&Ls)
This is a MUST! Business buyers buy the financial paperwork first! Buyers are not interested in seeing the new granite countertop or the latest piece of machinery until AFTER they look at your paperwork! Plan to have 3 years plus the current year available, or for however long you have owned the business (if less than 3 years). I can help you to make sure that your financial paperwork is in peak condition including all add backs so that you get paid top dollar for your business! Email Ed or call 702-274-7320 Ed Smith the Business Broker!
Business Federal Tax Returns
Another important item! If you are planning on selling your business, especially around the start of the year, then you need to have your business tax returns in order. Don’t file an extension in the year you plan to sell, as most business buyers won’t close on a deal until they review the latest tax return. Inform your accountant of your need for rapid action in completing the return. More questions? Email Ed or call 702-274-7320 Nevada’s Top Business Broker, Ed Smith!
Get Professional Assistance
Messy or incomplete financial records are a common problem for most small business owners and no one has the time to fix it! It is extremely important to have a simple and effective method for keeping track of business sales, expenses, and income. Hire a bookkeeper to come to your home or business; don’t make the mistake of thinking you can do everything yourself. The little extra money that it costs to hire a professional to get the job done right will pay off in the sale, since businesses with good financial records tend to sell for more money and sell more quickly! Want more information? Email Ed or call 702-274-7320 your helpful Business Broker, Ed Smith!