Establishing Business Valuation - FenderBender

"What do auto body shop owners need to do to prepare for the sale of their business?

I think the most important direction they can take is having the proper profit-and-loss statements and balance sheets for up to three years. Having the tax returns that match up with the balance sheet and the profit-and-loss statement for those three years is also important. Buyers usually ask for three years of those financials, but it could be as much as five years.

In addition, you should have an equipment list, an operations manual, and a list of your employees, which should include their duties and responsibilities within the business, and their monthly salary.

You also want information about your property, or if you rent the property, the leasing information. In some states, like California, a lot of property is owned by large corporate companies, so there isn’t much property readily available to purchase. "

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Establishing Business Valuation - FenderBender - November 2013 - United States:

For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.