This lists reasons why the business is attractive. It provides some history, a description of the industry, products, facilities, management, competition, and the outlook. It analyzes sales by product line and usually reveals profit margins by product category. Schedules of financial details are included. It may tell too much.
Some businesses are in demand, and sell quickly.
Others are mundane, and it takes months to find a buyer. The offering memorandum has data that reveals when it was written. It can be rewritten, but in practice that seldom happens. Buyers can see how long the business has been on the market by the age of the offering memorandum. A business plan can substitute for an offering memorandum.