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Discovery Questionnaire: BXO Engagement Process

Thank you for taking the time to complete this discovery questionnaire. The information gathered will be used in preparation for your meeting with Brett Dearing, Managing Member of Business Owners Advisory LLC. The initial information requested will assist with establishing a fundamental understanding of your business while using our time together efficiently to focus on your overall goals.

Click the button below to begin the Discovery Questionnaire.  When finished, click on the submission button.

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Tell Us About Your Company

Question 2 of 30

1. Please provide you name, title, and contact information:

Question 3 of 30

2. What is type of business entity is the company?

A

LLC

B

S-Corp

C

C-Corp

Question 4 of 30

3. Number of years your company has been in business.

Question 5 of 30

4. Briefly list and describe company services and/or products including features. 

Question 6 of 30

5. Name the current owners of the company and the percentage ownership.

Question 7 of 30

6. Does the company currently have updated operating or shareholder agreements? (Updated within the last three years)

A

No

B

Yes, but three years or older

C

Yes, organizational documents have been created/update within the last 12 months

Question 8 of 30

7. Do you currently have a strong management team in place?

A

Yes, team capable of running business without me

B

Yes, but there are gaps in management

C

No, have good managers but not able to run business without me to date.

Question 9 of 30

8. What has been the annual revenue of the company for the last three years, including current year up to latest closed month (2021, 2022, 2023, 2024YTD).

Question 10 of 30

9. What is the gross profit margin for the company over the past three years (2021, 2022, 2023)?

Question 11 of 30

10. Please provide the last three years of EBITDA. Please include the current year up to the latest closed month.

Question 12 of 30

11. Do you have the last three years of  financials reviewed by your accountant?

A

Yes

B

No

Question 13 of 30

12. Have you had any interest from potential buyers over the last 12 months? If so, please list the company names below.

Question 14 of 30

13. How many employees do you currently have? Also, please include any 1099 workers as well. 

Questions About Planning and Preparedness

Question 16 of 30

14. Do you have a comprehensive tax strategy that addresses income tax and potential estate tax risk from the completion of a transaction?

A

No

B

Yes, but the plan is incomplete

C

Yes, formalized in the last 2 years

Question 17 of 30

15. Have you had a third-party estate valuation completed on your company in the last 12 months. 

A

Yes

B

No

Question 18 of 30

16. Have you had a feasibility assessment conducted in the last 12 months to analyze the salability of the business. 

A

Yes

B

No

Question 19 of 30

17. Do you have a growth plan in place for this fiscal?

A

No plan or budget in place

B

No, only have an annual budget

C

Yes, but is incomplete or not updated

D

Yes, completed and implemented

Question 20 of 30

18. Currently, What do you think the estimated value is for the business?

Question 21 of 30

19. When is the last time you had your trust and estate documents reviewed and updated?

Question 22 of 30

20. Do you currently have a formal succession plan?

A

Yes

B

No

Question 23 of 30

21. Have you ever had a formal trust valuation completed by a third-party valuation advisor?

A

Yes, within the last 12 months

B

Yes, within the last two years

C

Yes, but over three years ago

D

No

Question 24 of 30

22. Do you understand the net proceed value needed from a future transaction to meet stated financial goals?

A

No

B

Yes, but analysis is not complete

C

Yes, have a solid number that has been discussed with my transition team

Question 25 of 30

23. Do you have a contingency plan in case of incapacity

A

No

B

Yes, but not complete

C

Yes, plan is completed, updated, and with executive team

Question 26 of 30

24. What advisors do you have as a part of your planning and transition team?

(Select all that apply)
A

Exit Planning Advisor

B

Investment Banker

C

M&A Attorney

D

Transaction Accountant

E

Wealth Advisor/Financial Planner

Question 27 of 30

25. Does the business have customer concentration?

A

Top 5 customers over 50% of sales

B

Top 5 customers 50-20% of sales

C

Top 5 customers 20-10% of sales

D

Top 5 customers are under 10% of sales

Question 28 of 30

26. What is the current market cycle of your industry? 

A

Declining

B

Flat Market

C

1-3% growth per year

D

4-9% growth per year

E

10% or more growth per year

Question 29 of 30

27. Please provide the https secure website address for your company.

Discovery Questionnaire Completed

Thank you for taking the time to complete this brief discovery questionnaire. 

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