Viewing posts categorised under: Buyingselling-business

Valentines Day and the Heart of the Deal

Valentine’s Day is coming up, so it’s a good time to talk about liking your partner—your business partner that is. When it comes to selling a business, both parties need to ensure there is a good personality/cultural fit.

If you’re a seller, and your buyer is an individual, do some research on the buyer.  Have them provide a personal financial statement or a letter from their lender confirming they have resources to complete a deal of the size contemplated contingent upon specific terms of the deal. (Ideally your advisor will do this upfront work for you.) If your buyer is a company, check around, what is their reputation in the industry?  Google them, see what shows up, awards or lawsuits.