Questions We Will Have For You As a Seller
BridgePoint Business Group, Led by Michael DeVault
Preparing to Sell Your Business
Selling your business is a significant step, and at BridgePoint Business Group, we strive to make the process smooth and informed. To provide an accurate valuation and effectively market your business, we’ll need detailed information about your operations, finances, and goals. Below are the key questions we’ll ask to ensure we represent your interests fully. Preparing these answers in advance will help streamline the process.
Contact us today: Michael DeVault | [email protected] | 615-240-5235
Get StartedBusiness Profile
We’ll need a comprehensive overview of your business to understand its structure and value.
- What is the business name and address?
- Who are the owner(s), and what are their contact details (cell phone, work phone, email)?
- How many locations does the business have, and what type of business is it?
- Is the building owned or leased? If leased, does the landlord know the business is for sale, and what are their contact details? Is the lease assumable, and what are the lease terms (monthly rent, square footage, expiration date, original length)?
- If the property is owned, is real estate included in the sale? What are the assessed value, real estate taxes, appraised value, date of last appraisal, and mortgage details (if any)?
- When was the business established, and how long has the current owner owned it?
- What is the business structure (e.g., C-Corp, S-Corp, LLC, Franchise)?
- Why is the owner selling, and do they have a price in mind?
- What will the owner do after the sale?
- What down payment does the seller expect, and are they willing to offer seller financing?
- Will the seller sign a non-compete agreement? If so, for how long and within what distance?
- Have profits risen steadily over the years? If not, why?
Current Owners and Operations
Understanding the owner’s role and operational details helps us assess the business’s continuity.
- Who are the current owners, their titles, and their percentage of ownership?
- How does the owner allocate their time (percentage of day for each activity)?
- What are the business’s hours of operation for each day of the week?
- How many employees are there (full-time and part-time)? How are they paid (weekly, bi-weekly, bi-monthly, monthly)?
- Do employees know the business is for sale? Will key employees stay?
- Who are the key employees, their positions, duties, salaries, typical hours, and tenure?
Products and Services
We need to understand what drives your business’s revenue and competitive edge.
- What are the company’s principal products and services, how are they used by consumers, and what percentage of revenue does each generate?
- How are your products/services priced compared to competitors (high, mid, low)?
- Why do customers choose your business over competitors? What makes your offerings unique or better?
- What is the company’s competitive advantage, and how is it measured?
- How are prices determined (e.g., market-driven, percentage margins, cost-plus)?
Customers and Sales
Customer and sales data help us evaluate market position and growth potential.
- Who uses your services, what type of customers are they, and what percentage of sales does each type generate?
- Which customers generate 10% or more of total revenue, and how long have they been customers?
- Is the business seasonal? If so, what are the peak selling months?
- What is the dollar value of an average sale?
- Are the majority of sales one-time or repeat? What is the percentage of repeat sales?
- What advertising methods do you use?
- What is the owner’s opinion on the best ways to improve the business?
Competitors and Assets
Competitor and asset details inform our strategy for positioning your business.
- Who are your major competitors, their locations, and how significant a threat are they?
- Is the office computerized? What is the condition of the building and equipment?
- What is included in the sale (e.g., accounts receivable, patents, business name, phone number, website, email address, furniture/fixtures/equipment, accounts payable, cash)?
Financial Information
Accurate financial data is critical for a reliable valuation.
- Who is your accountant, and what is their contact information?
- What accounting system do you use (e.g., QuickBooks)?
- What is the source of your financial data (e.g., tax returns, P&L statements)? For which years?
- What are your gross sales, net profit/loss, and expenses (including add-backs like salary, inventory, interest, depreciation, FF&E, amortization, and others)?
By gathering this information, you’ll help us deliver a valuation that aligns with lender standards and attracts qualified buyers. Our team, led by Michael DeVault, is committed to guiding you through this process with expertise and confidentiality.
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