Required Documents & Info
You don't need all of this ready on day one, but every serious buyer, lender, or advisor is eventually going to ask for it. Getting ahead of it now saves real time later, and it shows a buyer the business is well-run.
Financial
- P&L (profit & loss statements), typically the last 3 years
- Balance sheets, typically the last 3 years
- Tax returns (federal, and state if available), typically the last 3 years — business and personal, if it's a pass-through entity
- Current year interim (year-to-date) financials
- A summary of major one-time or personal expenses run through the business, if any (add-backs)
Legal & Entity
- Articles of incorporation or formation documents
- Operating agreement or bylaws
- Business licenses and permits
- Any outstanding contracts, leases, or loan agreements
Operational
- Lease agreement, if you don't own your location
- A list of major equipment or assets
- An org chart or a simple list of key employees and roles
- A basic description of how the business generates revenue
Customer & Vendor
- A general sense of customer concentration — do a small number of customers make up a large share of revenue? You don't need to name names yet, just a rough picture
- Key vendor or supplier relationships, especially any that would be hard to replace
This is the foundational list. A real readiness assessment goes further — looking at how much of the business depends on you personally, how complete your documentation actually is, and where customer concentration could be a red flag to a buyer. That deeper layer is part of what a Readiness Pilot Session covers. Apply for a Free Session