Selling Building Question

[Kris]

We closed one of our locations last Sept. We are selling the commercial property only (not the business) and a potential buyer requested our financial statements. I’m a bit confused because it is just the building.

Our second location is about 20 miles away so it doesn’t make sense for us to give this information because in a way they will be our competition…

I think it would actually help with the sale because the numbers are pretty good. The reason we closed was more about our quality of life. My husband says absolutely not. So what do you think…is it any of their business?

Kris
http://www.facebook.com/#!/pages/1924-S … 8919292251

 

[system]

I would agree with your husband about this one. Those are your personal records and have nothing to do with the building. If this person is opening a pizza shop then they would love to see what you were doing. As you said, you sold because of quality of life over financial reasons. If it ended up being a deal breaker I might consider it…but the building is being sold…not your pizza or its records. What about the equipment? Is this a turn key ready to go pizza setup still in place? Yes it is great to have a buyer interested…but why help someone that may hurt you in the long run. Hold back and see how it preceeds.

Just wanted to add…the more I think about this and reading Steve’s comment…I do agree more with if it is a big deal and only talking general info and not the specific inner workings of the store… let them see it. You say it is 20 miles away…so not like it is around the corner. Keep us updated with how it unfolds if you would. Curious to see how they proceed. - Michael

 

[bodegahwy]

I sure would not let a little issue like this get in the way of a good deal. Ask what they want to know. If it is just top line sales numbers… where is the harm? They can’t do anything with those numbers that can hurt you and having them might give them the confidence to go through with the deal.