What Dearborn buyers usually check
| Ownership | Who owns what share, especially when brothers, cousins or parents and children share the company. |
|---|---|
| Books and deposits | Tax returns, sales reports and bank deposits that match, with no off the books income. |
| The location | Lease or ownership of the building, parking and the years left to operate there. |
| City licenses | Which Dearborn licenses and inspections a new owner must apply for in its own name. |
Family Companies Have Extra Steps
Many Dearborn businesses are owned by families, sometimes across two or three generations. That helps keep customers loyal, but it adds work when selling.
Everyone with a share must agree on price and terms, and a buyer will want every owner to sign. Settle that before you list. A disagreement that surfaces during due diligence can sink a deal.
Selling to Family or Outside
Some owners hope a son, daughter or longtime manager will buy. That can work, but family buyers often cannot pay full value even with a bank loan. An outside buyer usually pays more.
A broker can show you what each path would really bring so you choose with real numbers.
Proving What You Earn
Busy stores and restaurants often run a lot of cash. Buyers and lenders only pay for income that shows up on tax returns and in the bank. Income that never reached the books lowers your price far more than it saved you in taxes.
Start cleaning that up a year or two before you sell. Two or three years of clean, reported profit gives a buyer and a lender something solid to work with.
Suppliers and the Auto Side
Dearborn suppliers and engineering firms face the same questions as shops anywhere in the area: customer concentration, program timing and the people who do the skilled work.
If that is you, see selling a tool and die shop for the kind of questions buyers ask.
Paperwork for the Sale
Restaurants and markets with a liquor license will need state approval before it transfers, covered in our liquor license guide. All Michigan sellers also deal with tax clearance and closing state tax accounts.
From hiring a broker to closing, seven to nine months is normal. Want a number first? Send the short form or call (313) 555-0152. The rest of the steps are on our how a sale works page.