There is a moment many owners remember clearly: the first time a buyer asked a question they could not answer about their own business. What is your customer concentration? Can the company run without you? What is your recurring revenue percentage? The silence that follows is where a lot of value is quietly lost. This checklist exists so that moment never catches you off guard when you decide to sell your business. The more boxes you can honestly check, the smoother your sale and the stronger your price. 

Think of this as the practical companion to exit planning for business owners. It will not replace a conversation with an exit planning advisor, but it will tell you exactly where that conversation needs to start. 

Financial Readiness 

☐ Three years of clean, consistent financial statements are available. 

☐ Tax returns reconcile with internal financials. 

☐ Personal expenses have been removed, or are clearly documented as add-backs. 

☐ Revenue and earnings are stable or growing. 

☐ Accounts receivable are current and collectible. 

☐ You know your SDE or EBITDA and how it is calculated, and you understand the difference between the two well enough to explain it to a buyer. 

☐ A professional valuation has been done within the last twelve months, so you are not walking into a sale wondering what’s my business worth. 

Operational Readiness 

☐ The business can run for thirty days or more without you. 

☐ Key processes are documented in writing, not just in your head. 

☐ A capable second layer of management is in place. 

☐ Key employees are likely to stay through a transition. 

☐ Equipment and facilities are well maintained, with no major looming investment. 

☐ Technology and systems are current, not held together by workarounds. 

Customer and Revenue Readiness 

☐ No single customer exceeds fifteen to twenty percent of revenue. 

☐ Customer relationships belong to the company, not just to you. 

☐ Meaningful revenue is recurring or contractual. 

☐ Customer contracts can transfer to a new owner. 

Legal and Structural Readiness 

☐ Corporate records, licenses, and permits are current. 

☐ Contracts and leases are in writing and assignable. 

☐ Intellectual property is owned by the company. 

☐ There is no pending or threatened litigation. 

☐ Your lease has adequate remaining term or renewal options. 

Personal Readiness 

☐ You know your after-tax number and how it compares to likely proceeds. 

☐ Your CPA and wealth advisor have modeled the tax impact of a sale. 

☐ You have a vision for life after the business. 

☐ Your family is aligned with the decision. 

☐ You are prepared for a six to twelve month process and a transition afterward, which is a realistic answer to how long it takes to sell a business of meaningful size. 

Twenty or more checked, and you are in strong shape. A confidential business sale process could begin soon with real confidence. 

Twelve to nineteen, and you have a solid foundation with specific gaps. Six to eighteen months of focused work could meaningfully improve your outcome, and this is exactly the kind of gap-closing work a good succession planning advisor helps you prioritize. 

Fewer than twelve, and you are not ready yet, which is genuinely valuable to know now rather than in the middle of a deal. Start with a business valuation for sale and a prioritized plan. 

Wherever you land, the point is the same one an owner shared with us after her sale:

“The checklist did not just prepare my business. It gave me the confidence to negotiate like I knew what I was doing, because I did.” 

If you are still asking yourself whether you even need a broker to sell your business, this checklist is a good way to find out. CurtisWiltse can walk through it with you, confidentially, and tell you honestly where you stand. Ask us to help you work through this checklist and close the gaps before going to market, because selling your business at maximum value is what you deserve.