Step 1 — Instructions

Thank you for investing in your business. Below are the instructions for the Step 1 Assessment.

Document Request

Sign the Agreement

You will receive a separate email that includes our agreement for you to sign. The agreement outlines our working relationship and what we agree to do. It will come from “[email protected].”  

Complete the Business for Sale Questionnaire

IMPORTANT: Click “Save & Resume Later” at the bottom of the form if you wish to exit the questionnaire before finishing it. Enter your email address or your data will be lost if you exit the form before you finish completing it. The questionnaire will be available for 30 days for you to return and finish filling out the form, after which time the data will be lost. This timer is reset every time you re-save the form. Once a Save and Resume link is made to finish the form and you click “Submit,” then the previous link will no longer be active. The link to your in progress Formstack questionnaire will come from ‘[email protected]

Submit the Financial Documents

Option 1Access to Your Accounting Software

Please provide us with access to your online accounting software, QuickBooks, or something similar. You can either add us as a temporary user ([email protected]) or send us your username and password, plus a link to the login page. This is the quickest and easiest way to give us your financial information. Our analyzing your real-time data means your assessment will be based on your latest financials. We will need to export several reports, including your Profit & Loss, Monthly Revenue, and Balance Sheet statements. You can change your password or cancel our temporary access when we have finished your assessment.  

Option 2 — Email Us the Financial Reports

Please send the following documents in Excel format to [email protected].

  1. Profit & Loss (P&L) Statements (Income Statement): P&L statements for the current year and previous three (3) years broken down by month and year. Send us the original ‘Profit & Loss Statements’ from your accounting software without any adjustments. Please export this to Excel, if possible.
  2. Balance Sheets: Balance sheets for the current year (year-to-date) and previous three (3) years, broken down by year.
  3. List of Adjustments: Please provide a list of adjustments for the previous three (3) years’ P&L statements. Click here to view instructions on providing adjustments to your financial statements. We must receive a list of adjustments to your financials in order to value your business. The value of your business is based on its profitability, and we must receive the adjustments to calculate your business’s profitability properly. The more adjustments you find, the more your business will be worth.

Please do not send multiple versions of your financials, as we must manually input this data into a spreadsheet every time you send us a new version. Send us only the complete and final version of your financials. Do not send multiple versions or a new set at a later date. If you do, then we must manually input this data again. Making manual changes takes approximately one to two hours, and we charge an extra fee for doing this.

Helpful Information

Step 1 Package: Once we have completed the analysis of your business, we will send you the following documents to review before the Assessment Phone Call:

  • Exit Plan: This is a personalized report that will walk you through your options and help you determine your next steps to maximize the return-on-investment in your business.
  • Adjusted Financials & Valuation: The Valuation is not complete until we finalize your adjustments, which we will do during our call with you. Please be sure to review all ‘Sheets’ in this spreadsheet (click the ‘Sheets’ at the bottom of the spreadsheet to view all ‘Sheets’).
  • Strategy & Fees: This is an overview of the process, fees, and our recommended services. We will answer any questions you have regarding the process during our call.

Turnaround Time for the Assessment Documents:

  • Standard 10-Day Turnaround Time: No additional fee for a 10-day turnaround time from receiving all requested information.
  • Expedited 5-Day Turnaround Time: $200 additional fee for a 5-day turnaround time from receiving all requested information.

Additional Fees: Additional time and fees apply in these cases:

  • If you request additional changes after you’ve received the final copies.
  • If you have more than one business for sale.

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Please send all emails to [email protected] and we will quickly handle your needs or forward your email to the right expert. For a faster response, please do not send emails to multiple parties. Any email sent to multiple parties at Morgan & Westfield is held until our daily team meeting for discussion before we respond. This avoids duplicate or conflicting messages but results in a delay in our response. 

You may also click this link for more information regarding Step 1.


  • Skip any questions you are unsure of. However, we recommend providing as much information as possible. The more information you provide, the more accurate our evaluation of your business will be. We also use this information when packaging your business before putting it on the market.

  • We use this information for each step you choose through to closing, so the more information you can provide, the better. We look forward to working with you.