How to Get Your Business Ready for the Market

Getting your business ready for the market is a big undertaking. With all of the documentation, valuation, marketing, buyer matching and negotiation steps, you may not know where to begin. Whether you have a definite or undetermined timeline, it can be a lot to handle all of the details yourself. We’ve put together a short checklist to help you get started.

Preparing Your Business to Sell: Gather & Organize Documentation

The sales preparation process will make your business more attractive to buyers, and you can also use it to perform a check of your operations and potentially upgrade some of them to current best practices.

Whatever your business sale timeline is, it’s important to have vital documentation organized and at hand for buyers to review. Our Business Sale Checklist summarizes the items you can work on gathering as you move closer to when you would like to get your business ready for the market:

Let’s review these in more detail:

Financial Reports

One of the key areas you’ll focus on when getting your business ready to sell is organizing your financial documents. You will need records spanning 3-5 years. Buyers want to see evidence of your profit margins, your revenue streams and growth trends. You’ll need to provide profit and loss statements, balance sheets, cash flow statements, and tax returns. You can present this information in multiple ways, such as by customer segment, product or service. Buyers can then more easily analyze your business’s financial position.

Performance Metrics Records

Document your key performance indicators (KPIs) and establish clear metrics that demonstrate business health. Having organized, accurate performance metrics showing how your business performs attracts serious buyers and justifies your asking price.

Operational Systems and Process Documentation

All businesses have standard operating procedures, and your SOP documents, along with manuals you can create that illustrate your customer service protocols, employee roles, and daily operations, will provide buyers with a comprehensive look inside your business.

You’ll also want documents that detail your organizational structure, plus your tech stack, systems and other operation-specific processes, so buyers will feel at ease that your business is transferable and scalable.

Customer and Market Analyses

In the regular course of running your business, you’ve developed an understanding of your customer base and market position. As you prepare your business for sale, you can revisit your tracking data to extract definitive information about customer buying patterns and demographics. The documentation and forecasts of your market share and growth potential will also be of interest to buyers. Focus on providing data that addresses:

• Customer acquisition costs
• Customer retention rates 
• Customer lifetime value

All of this information enables buyers to assess your business’s current position and future prospects.

Legal and Compliance Preparation

Having clean, current legal documentation speeds up due diligence and builds buyer confidence. You’ll want to organize all corporate documents, including articles of incorporation, bylaws, and shareholder agreements. Examine all contracts, licenses, permits, regulatory compliance requirements, intellectual property documentation, employee agreements, vendor contracts, and customer contracts. Your lawyer can help you gather and organize these documents so they are easy for buyers to review.

Exit Strategy Development: How National Industry Network Can Help You

While preparing for a business sale might seem overwhelming at first, we can help ease the planning and preparation. At National Industry Network, we don’t offer generic services. We will guide you through the business exit process when you’re ready. You’ll remain in control, and we’ll handle the detail work for you. Our relationship-first focus prioritizes your business, goals, and preferences to position your company in front of the right buyers, not just the first ones who show interest.

National Industry Network works side-by-side with you to streamline the transaction, protect your interests, and ensure a successful outcome by:

• Identifying qualified buyers
• Structuring deals advantageously
• Navigating negotiations
• Managing due diligence
• Closing the transaction efficiently

National Industry Network can guide you as you prepare your business for the market, then handle connecting your business with our network of over 10,000 pre-vetted investors who want to buy. We are your no-risk, low-pressure business exit strategists; we work on your timeline to sell to highly qualified buyers when you’re ready.

A word about confidentiality: 

It’s vital to maintain strict confidentiality throughout the preparation and marketing process. Premature disclosure of sale plans can unsettle employees, customers, and vendors. With 20 years of experience as business exit consultants, National Industry Network is well-equipped to help you achieve your unique company objectives in a discreet and professional manner. You will always be matched with serious buyers who are not only interested in your business but who are ready to buy. Before your company name is shared with potential buyers, we ensure buyers are vetted and we’ve requested proof of funding. 

Peace of Mind as You Prepare for Your Business Exit

Preparing to exit a business is complex, and the cost of not hiring a consulting firm can be far greater. Missteps in pricing, negotiating, or paperwork can cost you time and money, and you may end up with a sale price that doesn’t reflect your business’s true value.

But What About Consulting Fees?

At National Industry Network, we operate on a success-based model. We only get paid when you sell your business, aligning our success directly with yours. There are no upfront fees or hidden charges, and we’re fully invested in achieving a successful outcome for you. Unlike brokers who might rush the process to close more deals, we focus on getting the right deal for you. Having a team that prioritizes your needs over collecting fees will give you peace of mind.

Prepare Your Business for the Market on Your Schedule

The right partner can make all the difference in the sale of your business. National Industry Network sets itself apart by offering a personalized, relationship-driven approach that brokers simply can’t match. We’re here to help you navigate the process, maximize your return, and ensure a smooth transition for your business. National Industry Network doesn’t just connect you with any buyer—we connect you with the best match for your goals.

Schedule a free consultation today to learn more about how National Industry Network can help you prepare your business for the market on your timeline.