Templates and checklists can't replace professional advice. But they can do something just as important: help you organise your thinking, identify gaps in your preparation, and arrive at professional conversations ready to have the right discussions.
The downloads available through the Buy a Business Ltd Knowledge Centre are practical tools for buyers and sellers at every stage of a transaction — from early preparation through to completion day. They're free, and they're designed to be used alongside guides, sector resources and professional advice rather than instead of any of them.
Most Used Downloads
The seven most commonly used resources cover the key stages of buying and selling a business:
TheSeller Checklistis the starting point for any seller — a structured checklist covering financial records, legal documents, operational information, contracts, staff, assets and stock, confidentiality, buyer screening and handover planning. Use it before you list. It helps you find the gaps before buyers find them for you.
TheBuyer Checklistis the equivalent for buyers — covering listing checks, seller checks, financial checks, lease and staff, assets and stock, red flags, finance readiness and completion and handover. Use it before enquiring, before making an offer and before completing.
TheBusiness Buyer Question Listis one of the most practical resources in the Knowledge Centre. It gives buyers specific questions to ask sellers — covering seller identity, price and valuation, financials, customers, lease, staff, assets, contracts, data and IP, finance, handover and red flags. Most first-time buyers don't know what to ask. This list fixes that.
TheSeller Document Pack Checklistis for sellers preparing the documents that serious buyers, accountants and solicitors will want to see during due diligence. It covers accounts and management figures, tax and VAT records, payroll, legal and ownership documents, customer and supplier contracts, lease and premises, staff records, assets, stock and equipment, digital and IP matters, sector-specific records and handover documents. Having this pack organised in advance prevents delays and signals a well-run business.
TheBusiness Sale Handover Checklistis for both buyers and sellers preparing for completion day and the transition that follows. It covers completion basics, premises and keys, staff, customers, suppliers, stock and assets, digital access and passwords, data protection, licences and registrations, and post-completion seller support.
TheBusiness Purchase Offer Letter Templategives buyers a practical structure for making a conditional offer — including placeholders for buyer and seller details, the business, purchase price, payment structure, conditions, due diligence requirements, lease, staff, stock and the essential subject-to-contract wording.
TheHeads of Terms Checklist and Templateis for buyers and sellers who are ready to record the main proposed deal terms before moving to final legal documents. It covers the parties, the business being sold, price and payment structure, stock, due diligence conditions, exclusivity, confidentiality, staff, lease, handover, and which clauses are intended to be binding and which are not.
For Sellers
Seller Checklist
The Seller Checklist is the first thing any seller should use — before listing and ideally before appointing an adviser. It's a structured way to find the gaps in your preparation while there's still time to address them.
It covers financial records (accounts, management figures, tax records, payroll), legal documents (company documents, shareholder agreements, contracts), operational information (premises, staff, systems), assets and stock, confidentiality planning and buyer screening, and handover preparation. Working through it thoroughly takes time — but it's time that saves much more later.
Seller Document Pack Checklist
Once a buyer is serious, they and their advisers will request documents. The Seller Document Pack Checklist helps you build a due-diligence-ready document folder in advance, so you're not scrambling when requests start arriving.
A well-organised document pack signals a well-run business. Disorganised or incomplete disclosure — particularly on financial records or legal documents — is one of the most common reasons deals slow down, get renegotiated or fall through.
Business Sale Handover Checklist
The handover checklist is often overlooked in the early stages of a sale, but completion day requires significant preparation on both sides. Use this checklist to plan the transfer of premises, staff responsibility, customer relationships, supplier relationships, stock and assets, digital systems and passwords, data protection obligations, licences and any post-completion support arrangements.
For Buyers
Buyer Checklist
The Buyer Checklist is the practical tool for managing the buying process systematically. It works through listing checks (is what's advertised consistent and credible?), seller checks (who is this person, do they have authority to sell?), financial checks (are the accounts consistent with the price?), lease and staff matters, assets and stock, red flags to watch for, finance readiness and completion and handover preparation.
Running through this checklist before making any financial commitment helps ensure that nothing important has been overlooked.
Business Buyer Question List
The question list gives buyers specific, practical questions to ask sellers across every important area of the business. It's organised by topic — seller background, pricing and valuation, financials, customers, lease and property, staff, assets and stock, contracts, digital and IP, finance and funding, handover, and red flags.
Using it during early conversations with sellers helps you identify gaps in the information you've been given, test whether the seller's answers are consistent, and build a clearer picture of what you're actually being asked to buy.
Business Purchase Offer Letter Template
Making a conditional offer without a written record is a common mistake that leaves buyers exposed. The Offer Letter Template gives buyers a practical structure for putting an offer in writing — with the right subject-to-contract protection and the key conditions (due diligence, finance, legal review, lease assignment, staff) clearly set out.
An offer letter is not a legally binding contract. Get legal advice before signing anything more formal, including heads of terms.
For Deal Terms
Heads of Terms Checklist and Template
Heads of terms — sometimes called a letter of intent or memorandum of understanding — record the main proposed deal terms before the final legal documents are drafted. They help both sides confirm they're actually agreeing the same thing before the significant legal costs of a share purchase agreement or asset purchase agreement are incurred.
The Heads of Terms Checklist and Template covers the parties involved, the business being sold, purchase price and payment structure, stock treatment, due diligence conditions and timing, exclusivity period, confidentiality obligations, staff and TUPE matters, lease arrangements, handover terms, and which elements are intended to be legally binding.
Important: heads of terms can include both binding and non-binding clauses. Always get legal advice before signing them — the distinction between what is and isn't binding can have significant consequences if a deal falls through.
A Suggested Download Journey
For sellers
Start with the Seller Checklist to identify gaps in your preparation. Move to the Seller Document Pack Checklist to organise your evidence and due diligence documents. Use the Business Sale Handover Checklist to plan for completion day.
For buyers
Start with the Buyer Checklist before enquiring or making any commitment. Use the Business Buyer Question List when speaking to sellers. Use the Business Purchase Offer Letter Template when you're ready to make a conditional offer. Use the Heads of Terms Checklist and Template when both sides are close to agreeing main deal terms. Return to the Business Sale Handover Checklist as you approach completion.
Use Templates Carefully
Templates and checklists are useful tools. They help you think more clearly, organise more thoroughly and arrive at professional conversations better prepared.
But they are not legal documents. They don't substitute for a solicitor reviewing your transaction, a tax adviser advising on structure, or an accountant checking the financial picture.
Before signing anything, paying money, sharing confidential documents or completing a business purchase, speak to the right professional advisers.
*Buy a Business Ltd is a marketplace, not a broker, corporate finance adviser, M&A adviser, law firm, accountant, tax adviser, lender, valuation firm or investment adviser. Information, guides, templates, checklists and examples in this Knowledge Centre are for general guidance only and do not constitute legal, tax, financial, investment, lending, valuation, employment, data protection, brokerage, corporate finance, M&A or regulated advice. Buying or selling a business involves risk. You should seek independent professional advice before buying, selling, valuing, financing, negotiating or completing a business purchase.*