What paperwork do I need before I sell my repair shop?
Most shop owners have messier books than they'd like. Buyers expect some of that. What matters is pulling together the basics so a buyer can see what the shop really earns.
If this sounds like youYour books aren't as clean as you'd like, and you're embarrassed. You're worried a buyer will see the mess and walk.
What you can do.
Profit and loss statements
Three years if you have them.
Tax returns
Your CPA can pull these.
Equipment and lift list
What you own and roughly how old it is.
Building papers
Deed, lease, survey and any environmental reports.
What to watch for.
- Ask your own CPA to help clean up the last few years.
- Separate personal spending from shop spending.
- Keep everything in one folder so it's ready.
Owner to owner, and it stays private.
Lotus buys shops and their buildings in Massachusetts and Connecticut. We've seen every kind of bookkeeping. Bring what you have and James will tell you what's missing.
James StephensonLotus, Massachusetts and Connecticut
Quick answers.
Will messy books kill my sale?
Not usually, if you're honest and can explain the numbers.
How far back should my records go?
Three years is common. More helps if you have it.
Thinking about what comes next for your shop or building?
Reach out and we’ll talk it through. No pressure, and the conversation stays private.
james@lotuspe.us