A field guide for business buyers

Read the listing.
Find the questions.

A business for sale comes with a story. Build an evidence file before you build an offer.

Start a listing review Read the buyer’s guide

Make the next conversation more useful.

Separate the seller’s statement from the supporting record and your remaining question. A polished listing and a complete file serve different purposes.

The SBA’s business-buying guidance includes reviewing finances, contracts, leases, inventory, and operating requirements. This workbook turns that general guidance into a place to organize your next requests. Read the SBA guidance.

Listing review workbook

What have you actually reviewed?

Track the evidence you have seen. “Reviewed” records your progress; it does not certify a business or recommend a purchase.

0 of 8areas reviewed

Business or listing name

Listing source or URL

Numbers and dates

The period, accounting basis, and source behind each advertised financial figure.

Earnings adjustments

The seller’s explanation and documents for expenses added back to reported profit.

Owner’s working week

A written account of the owner’s tasks, hours, and relationships that need a handover.

Customer mix

A dated breakdown of revenue by customer or channel, with sensitive details handled appropriately.

What transfers

A specific inventory of the assets, rights, stock, and obligations included or excluded.

Premises and contracts

The lease and key agreements, with transfer or consent questions identified for counsel.

Operating requirements

A list of licenses, permits, and other requirements to check with the issuing authorities.

First months of ownership

An initial plan for operating cash, staffing, transition support, and immediate spending.

Questions to bring to the seller or your advisers

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Before an offer, define the unknowns.

Work through the financial story, the owner’s role, and the boundaries of the deal. Finish with a focused set of requests.

What to verify before an offer