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1. Not having organized financial records. 

Most if not all buyers will request to review the last three years profit and loss statements/balance sheets and tax returns – at a minimum. In addition, if the buyer is looking for bank financing, the bank will also request the same information.

2. Selling when your revenue is in a downtrend. 

A growing business is the most attractive business to a buyer. When selling your business, you want to sell from a position of strength not weakness, so don’t wait until you have no choice but to sell.


3. Listing your business too high.

Most businesses are saleable if priced and structured properly. Sellers should understand that only the marketplace could determine at what price a business will sell.


4. Not notifying your team of advisors of a possible sale. 

Time is of the essence on any business sale transaction. A buyer will want up-to-date financial information (see #1). If you use an accountant or bookkeeping firm, you can work with them on making current information available. If you are using an attorney, you might ask if their schedule will allow them to participate in the closing on a very short notice and you don’t want to wait until the attorney can make time to prepare or review the documents.


5. You don’t use a business broker. 

Business brokers are professionals that will facilitate the successful sale of your business. You want to make sure you hire an honest and experienced business broker. A business broker that will help you decide how to price your business to sell and how to structure the sale. Whether it be here in Iowa or anywhere across the US, partnering with a business broker to sell a business will get you the most bang for your buck and will make the process easier for you.

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KReate’s 2023 Q2 Business Broker Newsletter

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Confidentiality Agreement.

In connection with a possible acquisition (the “Proposed Transaction”) by you, KReate and subsidiaries (KR) will furnish to you information regarding the business, financial condition, operations and prospects of the Company (the “Proprietary Information”). In consideration of obtaining the Proprietary Information, you hereby agree as follows:

  • All Proprietary Information furnished by us or the Company to you will be deemed confidential.
    The term Proprietary Information does not include any information, which is, or becomes,
    generally available to the public or is already in your possession.
  • Unless KR otherwise agrees in writing, you will not disclose or reveal any Proprietary Information
    for five years from the date hereof to any persons or entities other than your employees or your
    representatives actively and directly participating in the evaluation of the Information for any
    purpose other than in connection with the Proposed Transaction.
  • Although you understand that KR and the Company have included in the Proprietary Information
    certain information that KR considers to be relevant for the purpose of your investigation of
    proposed Transaction, KR does not make any representation or warranty as to its accuracy or
  • If you determine that you do not wish to pursue the Proposed Transaction, you will promptly advise
    us of this fact and will deliver to us all the Proprietary Information furnished to you without
    retaining copies, summaries, analyses or extracts thereof. In any event, KR would expect all
    information to be returned to us within ten days of receiving it, unless agreed to otherwise.

If you are in agreement with the foregoing, please complete this on-line form and mark the ‘I understand and agree to the NDA…’ box