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Questions About Selling A Business

Discussion in 'General Entrepreneur Discussion' started by collegeweb, Apr 20, 2018.

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  1. Apr 20, 2018 #1
    collegeweb
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    collegeweb New Contributor

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  2. Apr 21, 2018 #2
    biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    It depends on the price range. When I was selling mine they just signed at NDA. Most needed loans so no proof of funds were shown. They didn't get to see financials until we had a signed LOI.
     
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  3. Apr 21, 2018 #3
    NanoDrake
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    NanoDrake Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    If I can share something with you it's John Warrillow, built to sell.
    Especially in his podcast he asks to everyone if there was a "lowball" the acquirers used to buy the business.
    What can I say after hearing ALL the episodes and taking notes is that UNLESS the buyer is strategic and has skin in the game, the more you LAWYER UP, meaning the more experienced and ON YOUR SIDE OF THE BENCH people you surround with in this, the better.
     

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