Before you list the business for sale, it's worth testing yourself on the questions a serious buyer will — sooner or later — ask. If you can answer them all clearly and precisely, you're markedly better prepared than most people who start a business sale.
About the business and the numbers
- What's the business's revenue and earnings (EBITDA) for the last 2–3 years?
- Are there one-off items in the accounts that don't reflect ongoing operations?
- What share of revenue comes from the 5 largest customers?
- What's the business's actual value — and how is it calculated? See our guide to valuation.
About operations and owner dependency
- Can the business function for a period without your day-to-day involvement?
- Are there key employees the business depends on — and have they been informed of a possible sale? See how to do it without panic.
- Are there documented processes, or is a lot "only in your head"?
About structure and legal matters
- Do you own the business directly, or through a holding company? See why the structure matters.
- Are there unresolved legal matters — disputes, unfinished contracts or similar?
- What happens to existing contracts and supplier agreements at a change of ownership?
About the sale itself
- Why are you selling — and can you explain it credibly to a buyer?
- What's included in the deal, and what isn't? See our guide to good sales materials.
- Are you willing to accept an earn-out if the price and expectations don't fully match? See how an earn-out works.
- What non-compete restriction would you accept after a sale? See what a non-compete clause typically involves.
- How much tax do you need to pay on the sale — and have you factored it into your price expectation? See tax when selling a business (currently in Danish).
What do you do if you can't answer everything?
It's completely normal not to have answers to all 15 questions from the start — that's exactly why preparation is a phase in itself. Use the list as a checklist you work through before listing the business for sale, so you're not caught off guard in the middle of a negotiation.
Ready to move forward? Create your listing, or read the complete guide to selling your business from start to finish.
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