So you have decided to sell your business here in Hawaii! It took a long time to come to this decision but have you really thought about getting the business ready to sell?
Here are the things you should be ready to provide from day one of the sale.
1. Make sure you have Profit & Loss Statements that are up to date for the past two years. ...same for you last two years of Federal & Hawaii State Income Taxes.
2. Make sure all of your taxes have been filed and up to date.
3. Create a list of all the things that are going to be included in the sale. This is often called the inventory list.
4. Make sure you have a proper copy of your lease and or copy of your deed and full title to your property (also make a copy of your survey and your Title Insurance).
5. Inform your employees of the sale and give them each a bonus for helping sell the company.
#5 above is somewhat controversial but my experience has shown that skirting the issue does no good. Further explain that all employees will be considered for employment by the new owner.
Pacific Rim Business Consultants can help with all of the above, including selling the business. Please call us at (808)744-1826. You will be glad you did!
Here are the things you should be ready to provide from day one of the sale.
1. Make sure you have Profit & Loss Statements that are up to date for the past two years. ...same for you last two years of Federal & Hawaii State Income Taxes.
2. Make sure all of your taxes have been filed and up to date.
3. Create a list of all the things that are going to be included in the sale. This is often called the inventory list.
4. Make sure you have a proper copy of your lease and or copy of your deed and full title to your property (also make a copy of your survey and your Title Insurance).
5. Inform your employees of the sale and give them each a bonus for helping sell the company.
#5 above is somewhat controversial but my experience has shown that skirting the issue does no good. Further explain that all employees will be considered for employment by the new owner.
Pacific Rim Business Consultants can help with all of the above, including selling the business. Please call us at (808)744-1826. You will be glad you did!
