The Buying Process

One of the most common questions asked by those who have never purchased a business is, “How do you actually buy a business?”  I believe it is important that you understand the basic process and get answers to all of your questions.

Make Your Commitment and Complete a Buyer Profile

The first step is to commit to the necessary work and patience involved in purchasing a business. Once committed, the process to register as a buyer begins by gathering a few details about your background to identify your financial capabilities, your skills, your experiences, and your goals. This information helps me suggest the types of businesses we currently have listed which are suited to you, and will also help me provide you with early notice on new listings that match your profile.

Business Search

I will help you find businesses of interest, you will need to complete and submit a Non Disclosure Agreement (NDA) for each business.  I will then provide you detailed confidential information on those businesses, and arrange confidential business showings with the sellers. If financing is necessary, I can assist you with the pre-qualification lending process. There is no charge for assisting you.

Contingent Offers/Contracts

Once you have selected a business you would like to buy, I can assist you in drafting an offer with contingencies desired. This becomes your offer, and will be presented to the seller. After any negotiations, you will have a contingent purchase agreement to buy the business. This agreement obligates the seller to sell, but the buyer is not committed unless and until the buyer is fully satisfied and all the buyer’s contingencies have been satisfied.

Due Diligence Process (Books and Records Examinations)

In this process you have the opportunity to inspect the owner’s records and prior representations to confirm their accuracy. I coordinate seller and buyer communications during the business process and I will help provide ongoing updated information regarding the developments of the transaction. I can also coordinate the efforts of your legal and accounting professionals and strive to satisfy all contingencies.

Sale Closing

Final preparations will be made to make the transfer as seamless as possible. I can provide the necessary escrow documents to close the transaction, usually at a escrow company. I will work with each party to get everything ready for the new owner to take over.

There are many additional questions and steps that will arise during the buying process.  Purchasing a business is complex. It demands the expertise of an experienced business intermediary coordinating the buyer seller relationship.  You can Expect Experience with me; my goal is too ethically, confidentially, and professionally bring everyone to an agreeable position at the closing table.

Click here to complete Buyer Registration

What to Look For