Almost all deals develop some kind of problem or another. (Hit bumps in the road)  If you could use some professional assistance to get the deal done, don’t’ hesitate.  Pick up the phone and contact an industry professional.  Chances are you already know someone in the business that has been through this process before. “You are not alone".

QUALIFY THE PROSPECTIVE BUYERS. – Ask for the buyer’s financial statement.  It’s a two way street.  If they request financial information about your business, you need to know they have the ability to purchase your club.  Always obtain a signed Confidentiality Agreement from the buyer. Before disclosing any confidential information, the seller should have the buyer sign a confidentiality agreement.  You can easily find them on the World Wide Net, from your local business broker or an attorney.

What you should provide the buyer:

1. Tax returns
2. Copy of your Lease or an appraisal if you own the real estate  
3. Membership reports/ EFT DRAFT
4. Income and expense report 
5. Balance Sheet 
6. List of furniture, fixtures and equipment included in the sale.

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