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What is standard practice abt disclosing financial information to a buyer when selling a busness opportunity?

What is standard practice about disclosing financial information to a buyer when selling a business opportunity? A hair salon. Thank you!

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Grover Rutter Mergers, Acquisitions & Va
"We Bring Business Sellers and Buyers Together Confidentially"
Hancock County, OH

Never share detailed financial information with a potential buyer unless the buyer has first signed Non Disclosure/Confidentiality Agreements. Our firm also recommends that a seller should not share financial records with any potential buyer who has not been qualified as a financially suitable buyer. A qualified business intermediary usually pre-screens all inquirers and determines if the buyer candidate has financial capabilities to pursue a deal with reasonable expectation of success. Buyers who refuse to sign NDA Agreements or provide basic financial background information are generally "Looky-Lous" who would only waste the seller's time.

Apr 3, 2009