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Tip #120: Will the financials stand up to the scrutiny?
In the process of selling a business, the financials will be scrutinized by buyers, accountants, advisors and even relatives of the buyers. They are looking at items such as profitability, margins, costs and expenses to see if the company is a desirable purchase. The financials also serve as a roadmap to the operations and will spark questions, which will lead to more questions. As part of the exit planning process, it is a good idea to have a mergers and acquisitions professional review the books to identify the strengths and any weaknesses of the company that may need to be addresses before going to market.
