MBA has identified specifics needed in order to aid a successful transaction :

Having provable books and records increases the numbers of potential buyers
Buyers want proof of sales and profits the business has attained in the past


Expectation of a reasonable price and terms
Educated buyers only consider competitively priced businesses.


List of assets including furniture, fixtures, and equipment.
A complete inventory that can be referenced during inspection.


Attractive lease
Knowing the terms of assignment or of a new lease.


Best possible appearance
Having the business premises neat, clean and in good repair


Valuing the business properly
A valuation on the business creates a document that proves value to the buyer and shows the business to be competitively priced.


Covenant not to compete
Preparing the terms of non-competition within an appropriate distance and for an reasonable period of time


Reason for sale
Buyers will want to understand the reason for sale and be comfortable that there is not undisclosed information that could negatively affect their investment in the future


Time is of the essence
Be prepared to move forward when a qualified buyer shows interest in the business.


No surprises!
Most adverse situations, such as landlord problems, outstanding loans, tax arrears, unfavorable equipment leases, and even non-compliance with zoning, health or other regulations, can be overcome if known in advance.