Chapter 10 Due Diligence
In the initial chapters we talked about marketing your business to find a qualified buyer, and at this point you have completed the positioning needed to prepare your business for due diligence. You completed your down select to the buyer you hope to close a deal with. This is the buyer who offered you the most acceptable deal. Even though you have a purchase agreement or letter of intent (LOI) with them, the deal isn’t done yet. Now you are at the point where your buyer will want to perform a detailed assessment of the business that goes much deeper than the marketing information you previously provided in your marketing “Book.” The detailed assessment the buyer performs of your business is called due diligence.
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