As Seen In NNBW: How to prepare your business for sale

As we move into the second half of the year, many business owners begin to think about the possibility of selling. While a fresh coat of paint or updated signage might seem like the right place to start, true readiness goes much deeper than surface-level improvements.

By Buzz Harris

In his recent Northern Nevada Business Weekly column, Liberty Group’s own Buzz Harris outlines the key steps business owners should take to attract serious, qualified buyers—and close deals more efficiently when the time comes.

Here are a few takeaways:

  • Know your “why”: Buyers will ask why you’re selling—and it’s better when the answer isn’t urgent. Planning ahead allows you to sell from a position of strength rather than burnout.
  • Get your financials in order: Three years of income tax returns and clean income statements are a must. Just as importantly, be able to explain and justify non-operational expenses so buyers can clearly see the business’s true profitability.
  • Review your legal commitments: Are your contracts, leases, and permits in good standing? If your location is crucial to success, a long-term lease with renewal options will help buyers feel more confident about the business’s future.
  • Start delegating: If the business relies too heavily on the current owner, it can raise concerns for buyers. Start transferring key responsibilities to staff now to reduce transition risk.
  • Be transparent and credible: Buyers aren’t just purchasing a company—they’re buying into a vision of the future. Honest, organized sellers earn buyer trust and move deals forward more quickly.

Buzz puts it best: “Although preparation might seem time-consuming, many owners find that making these steps not only improves their management practices, it can improve the desirability and value of their business as well.”

Read the full article in the Northern Nevada Business Weekly here.