HELP

Ask a question Ask a Question
Give feedback Give Feedback
1-800-333-4636 1-800-FED-INFO
Browse knowledgebase Browse Knowledgebase

TOOLS

Browse knowledgebase Start a Business
Browse knowledgebase Learn About New Health Care Changes
Browse knowledgebase Find Opportunities
Browse knowledgebase Browse resource for Veterans
Small Business Administration Tools SBA Tools
Sign up for email updates from SBAReceive helpful business tips and upcoming events in your area.


Managing a Business

article

Selling Your Business

If you decide that selling your business is the right exit strategy for you, be sure that you cover all your bases. In order to sell your business officially, you will need to prepare a sales agreement. This is the key document in buying the business assets or stock of a corporation. It is important to make sure the agreement is accurate and contains all the terms of the purchase. It would be a good idea to have an attorney review this document. It is in this agreement that you should define everything that you intend to purchase of the business, assets, customer lists, intellectual property and goodwill.

The following is a checklist of items that should be addressed in the agreement:

  • Names of seller, buyer, and business

  • Background information

  • Assets being sold

  • Purchase price and Allocation of Assets

  • Covenant Not to Compete

  • Any adjustments to be made

  • The Terms of the Agreement and payment terms

  • List of inventory included in the sale

  • Any representation and warranties of the seller and buyer

  • Determination as to the access to any business information

  • Determination as to the running of the business prior to closing

  • Contingencies

  • Fees, including brokers fees

  • Date of closing

For additional guidance and to view a sample sales agreement, visit Agreement to Sell a Business.

Groups:

Get the Info That Matters Most to You With SBA Direct

Find information on:

(Select your topics)

Get Local Assistance Right in Your Area

Counseling, mentoring, and training from an SBA District Office, SCORE Chapter, Small Biz Development Center or Women’s Biz Center in your area.

FIND RESOURCES