When a buyer reviews a boiler company, the marketing and customer questions are fairly predictable: who owns the accounts, where the work comes from, how steady the maintenance base is, what customers say publicly, and whether the company has followed the rules on messaging and data. This checklist lists what to have ready for each, why it matters, and the gaps that most often slow things down.
It covers the marketing and customer side only. Financial, legal, tax, employment and real-property diligence are handled by accountants and lawyers, and we don't advise on them. Your lawyer should decide what is shared, with whom and when.
Section A: Assets and ownership
The buyer needs to know the company controls what it uses to win work.
- Asset register listing every domain, website, hosting account, Google Business Profile, other directory listings, ad accounts, phone and text numbers, call-tracking accounts, email service, social profiles and customer or job software.
- For each: registered owner, billing owner, administrators, renewal date and login location (stored securely, not in the register itself).
- Confirmation of company ownership for each item, or a note on what is still to be transferred.
- Old and redirecting domains, with renewal dates.
- Supplier list: agencies, web developers and software vendors with access, and the level of access each holds.
Common gap: the Google Business Profile or domain sits under a personal account. Fix this well before a sale; see transferable marketing assets.
Section B: Demand and lead sources
The buyer wants to see where customers come from and how concentrated that is.
- Leads by source by month, for as many years as you have consistent data.
- Booked jobs by source, separated into installs, repairs and maintenance plans.
- Marketing spend by channel by month, reconciled to invoices.
- Cost per booked job by channel, with the calculation explained.
- Largest referral sources, such as builders or property managers, and the share of work each provides.
- A methods note explaining definitions (what counts as a lead, a booked job, a source) and any changes over time.
Common gap: platform "conversions" reported as leads. A click on a phone number isn't a customer. See buyer-ready marketing data.
Section C: Recurring customers
The maintenance base often gets close attention.
- Active maintenance customers today, and at the same date in each prior year you can document.
- Renewal rate by year, with how it was calculated.
- Cancellations with reasons, where recorded.
- Follow-on work: installs and repairs bought by plan customers.
- Concentration: share of plan revenue from the largest accounts.
- Current plan terms and pricing, as presented to customers.
A worked check: if your plan list shows 650 active customers but only 410 had a visit in the last twelve months, a buyer will ask about the other 240. Clean the list before anyone else does.
Section D: Reputation
Reviews are public, and buyers read them.
- Review summary by platform: count, rating and volume by year.
- Response record: how and how quickly the company answers negative reviews.
- How reviews are requested: the process, the wording and the timing.
- Confirmation that reviews were not bought, written or selectively filtered.
Common gap: a burst of reviews from one campaign years ago, then silence. Steady volume over time is more convincing.
Section E: Messaging consent and data handling
This is where marketing meets compliance, and a buyer will want comfort that there are no surprises.
- How consent is collected for commercial emails and texts, and where it is recorded. Canada's anti-spam law requires consent, identification and an unsubscribe mechanism; the CRTC's CASL FAQ summarises the requirements.
- Unsubscribe handling, and evidence it works.
- Where customer data is stored, who has access, and how it would be transferred. The Office of the Privacy Commissioner explains which privacy laws apply in which provinces.
- Price advertising practices: whether advertised prices include mandatory fees. The Competition Bureau's guidance on drip pricing is a useful reference.
We summarise these rules only so you know the questions exist. Whether your practices comply is a question for your lawyer.
Section F: Brand and owner dependence
- Brand assets: logo files, brand guidelines, vehicle graphics files, and confirmation of who created and owns them.
- Contact points: evidence that customer calls and texts reach company lines, not personal phones.
- Quoting process: a written description of how replacement quotes are prepared and presented, and by whom.
- Team visibility: how the team is presented on the website and in reviews.
See owner-independent brand for how to strengthen this section.
Section G: Website and content
- Website ownership and hosting details.
- Traffic history from analytics, with notes on any changes to tracking setup.
- Main search queries and pages that bring in enquiries.
- Content inventory: service pages, area pages, guides, and who wrote them.
Assembling the pack
Put everything in one well-organised folder, with an index. Keep the methods note at the front. Mark every gap with a short, honest explanation. Avoid editing exports by hand; if a figure has to be adjusted, explain how.
Order of preparation, if time is short:
- Section A (assets), because unresolved ownership can delay a closing.
- Section B (lead sources), because history can't be created later.
- Section C (recurring customers).
- Sections D to G.
Mistakes that slow diligence down
- Inconsistent numbers. If the marketing report says 180 installs and the job software says 165, explain the difference before you are asked.
- Passwords in spreadsheets. Share access through proper channels, as advised by your lawyer, never in the register.
- Late tool changes. Switching software months before a sale breaks the history buyers want to see.
- Overstating. A claim you can't support costs more credibility than a modest one you can.
Where to go from here
Read what buyers look at in a boiler business for the reasoning behind this list, and the exit readiness timeline for when to prepare each section. If you'd rather have someone build the pack with you, start with the exit readiness review. For the transaction itself, Sedighi.ca provides exit and M&A advisory.
Frequently asked questions
When should I start preparing these documents?
As early as possible, ideally two or three years before a sale. Some items, such as an asset register, can be prepared in weeks. Others, like comparable lead-source history, only exist if you have been recording them.
Who will ask for this information?
Usually the buyer's team, which may include their own advisers. The exact requests vary, so treat this list as preparation rather than a definitive set. Your lawyer will manage what is shared and when.
Should I share customer lists with a buyer?
That is a question for your lawyer, because customer data carries privacy obligations and confidentiality concerns. Often summaries are shared first and detail comes later under agreed terms.
What if some records don't exist?
Say so plainly and explain what you have instead. Honest gaps cause fewer problems than reconstructed figures that don't reconcile with other records.