GUIDELINES TO FINDING THE RIGHT BUSINESS
We will discuss your experience, interests, financial capabilities and life goals to help determine the right business for you.
We will explain the business buying process and help you understand the realities of today’s market.
It’s time to search for a business, sign confidentiality disclosures, acquire detailed information, and finally, tour the business. This process will be repeated until you decide on a business to purchase.
We will help you draft a fair and reasonable offer and present it to the seller along with a good faith deposit (held in escrow). After negotiations and with any luck, you will have a fully executed purchase agreement and be ready to start the next step of the process – due diligence.
During this phase you as the buyer, along with the help of our team, fully inspect the business, including legal and accounting practices. If financing is involved, this is the time that the lender must approve the application.
Final preparations will be made for lease assignments, utility transfers, financing, merchant service accounts, inventory counts and any other last minute preparations to make the transfer as seamless as possible. Your acquisition will usually be completed by an attorney with the signing of several documents and the payment of the balance of the purchase price.
Transitional training by the seller may include meetings with employees and clients, technical education, computer updating, and other essential knowledge transfer. We will be available to assist you with any questions or post-closing requirements you may have.
Remember, we are here to help every step of the way!