Once you have decided to sell, the first thing you must do is to gather information about your business.

Here's a checklist of the items you should get together:

• -    Three years’ profit and loss statements
• -    Federal Income Tax returns for the business
• -    A List of fixtures and equipment
• -    The lease and lease-related documents
• -    A list of the loans against the business (amounts and payment schedule)
• -    Copies of any equipment leases
• -    A copy of the franchise agreement, (if applicable)
• -    An approximate amount of the inventory on hand, (if applicable)
• -    The names of any outside advisors (if applicable)