For owners · Thinking ahead

Not ready yet? That's most owners.

Most of the owners we talk to aren't ready, and most of the ones who eventually sell weren't ready the first time they thought about it. Here's what's worth knowing now, and a way to tell us when to check back — so we do it then, and not before.

What weighs on the number.

When a buyer prices a business, a few things carry most of the weight. None of them has to be perfect for a deal to work; they shape how it's structured.

Whether the books tie

to the bank statements and the tax returns. The top reason deals break now, and the easiest to fix.

Whether one customer could sink it.

Above a third of revenue, expect part of the price to depend on that account renewing.

How much of the revenue repeats.

Contracts, routes, renewals. Buyers pay for what comes back on its own.

How much runs through you.

A manager, a bench, or systems solid enough that a buyer can find one.

It's easier to talk about these before an LOI than during diligence. We'd rather see a good business as it is than wait for a polished one.

What a serious buyer asks for.

Once a buyer is serious, they'll ask for a handful of things. Most owners can't produce all of them on the first ask, and that's normal.

  • Two to three years of financial statements, monthly if you have them
  • The same years of business tax returns
  • A rough customer breakdown: top ten by revenue, how long each has been with you
  • The main contracts and leases
  • An org chart, with who's key
  • Twelve months of bank statements

Having these in one place is most of what “ready” means. It isn't a condition of talking to us.

The two-year checklist, printable →

Tell us when to check back.

Your timing outranks anything else. If you say next year, it's next year.

If you did something, when?
What would have to be true?
Anyone else we should be talking to?optional

Set a time for us to check back.

Fill in the check-back above, then add your name and email here. We'll reach out then, and not before.

Goes to the person who decides. You'll get a short confirmation by email and can reply to it directly.

Prefer to reach us directly? inquiries@fellwater.com · Call or text (206) 895-7474

What to expect

Then, if it might fit:

  • A short call with the person who decides
  • A written offer after basic financials, not a range
  • A timeline set before you commit, and a call from us if it moves
  • No contact with your people or customers without your say-so
Back to For owners