The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Questions About Selling A Business

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
7,575
35,475
5,083
Scottsdale, AZ
I own a home service company which I have decided it is time to sell.

I listed it on BizBuySell - The Internet's Largest Business for Sale & Franchise for Sale Marketplace and gotten a few inquiries.

It is customary to request proof of funds and non disclosure before discussing further?

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.
 

NanoDrake

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Feb 25, 2018
128
218
161
36
Malta
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.
 

Sponsored Offers

  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
The media defines people by their occupation. You are a liquor store owner, freelancer, single...
MARKETPLACE 7 Days To Freedom: From Wantrepreneur/Wage Slave To Freelancer
We're going to be starting soon, in 1 hour! Everyone else who wants to join us for the ride...
  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
@Fox It's same with me Did both quiz and application but as yet no automatic confirmation, just...
Introducing MJ's Personal Unscripted Network, Join Now for FREE!
If you are in IDEA mode, text "IDEA" to the above number. If you are in LAUNCH/START mode, text...
MARKETPLACE Not sure how to start? This free book will teach you how to build a successful web design business
If there’s one thread I see repeated over and over again on the forum, it goes like this: “I...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Thanks for clearing that up. What do you recommend for those who are still in the process of...



Forum Sponsor

Over 100 Fastlane Students
More Details...

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom