Preparing Your Business for Sale
(Writing the Buyer’s Business Plan)
A buyer may be asked to present a business plan when requesting financing on the purchase of your business. At this stage of the process, you are far more capable of writing a good business plan for your buyer than the buyer would be able to write. No one can write a business plan for your business faster or better than you. It’s a helpful service you can provide the buyer by writing the buyer’s business plan before you even put your business on the market.
Selling a business is a difficult and time-consuming endeavor. When a seller takes the time to write the buyer’s business plan before going to market there are increased efficiencies in the overall process. This is an excellent step to assist your buyer in their time of need. An added benefit is that you can highlight the key benefits and positive selling points of acquiring your business.
The SBA has an interactive business plan website that automatically creates a Word document after you’ve entered the requested written information. Their website page is: http://web.sba.gov/busplantemplate/BizPlanStart.cfm.
Concentrate your initial efforts on the non-financial aspects of the business plan. Concentrate on the quality of thoughts and information. Once you have written the creative parts based on your proprietary information, you can get assistance with editing and the financial elements.