Business Broker asking for financial statement and resume

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February 27, 2024

by a searcher from Mahatma Jyotiba Phule Rohilkhand University Bareilly in Denver, CO, USA

I am definitely switching industries in my ETA journey. I have some business brokers ask for financial statement and resume.
Are their any templates that I can use to meet this criteria ?

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Reply by a searcher
from Liberty University in Austin, TX, USA
Check this out — I wrote about this exact thing and provide something you can use as a template: https://imbuyingabusiness.substack.com/p/writing-a-buyer-profile
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Reply by a searcher
from Princeton University in Annandale, Clinton Township, NJ, USA
I wouldn’t overthink this. Include your standard resume, and if you are leaving your existing career for search, I’d include a written summary of our search plan and target businesses (with any business criteria you’ve determined). For financial statement, I would do the following: 1) determine how much liquid capital you personally have available, 2) determine how much additional equity capital you either have earmarked with investors or would need to buy a business at the large end of your range, and 3) state that you plan to acquire with a combination on personal capital and outside investors, up to equity check size of $XXXX, with your personal equity comprising $XXXX.

some brokers will follow up and ask for proof of your personal funds, so don’t fudge the numbers there. If brokers won’t consider you unless you can provide proof of funds for full check size, give thoughtful rationale about why you are a serious buyer who can raise the equity if the deal fits your criteria. Sometime they won’t give you the time of day, but that is their loss. Most small businesses can only realistically sell to searcher who wants to jump in and get hands dirty, so brokers ignoring this cohort do so at their own risk.
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