The Buying Process
Sunbelt's intermediaries offer you the unique insight that comes from their experience representing both buyers and sellers.
Whether you're a acquiring a lawn business for $400,000 or a manufacturer for several million dollars, our intermediaries are highly skilled in the process of acquiring a business, how a business is valued, and in the negotiation process. We will help you understand how the value of a business is derived; help you understand the process of making offers and buying the business; and help you negotiate and close the deal, possibly saving you thousands-or tens of thousands-of dollars in the process.
How Do I Buy a Business?
| Step 1: |
Schedule a buyer meeting with your Sunbelt Business Broker. |
| Step 2: |
Evaluate the basic information provided by your Sunbelt Business Broker on alternative businesses that sound of interest to you. |
| Step 3: |
Sign a Confidentiality/Disclosure Agreement for businesses of interest. |
| Step 4: |
Visit the business (if possible) incognito to get a feel for the business. |
| Step 5: |
Meet with Seller. Your Sunbelt Business Broker will arrange appointments. You may ask general or probing questions on anything and everything about the business, but this is not the time to negotiate price and terms. |
| Step 6: |
Do your preliminary evaluation based on the information provided by the seller to your Sunbelt Business Broker and to you. Do not expect the seller to provide detailed financial information at this time. |
| Step 7: |
Make an offer assuming that all of the information you have been provided is correct. Your Sunbelt Business Broker will show you how to write a contingent offer that will protect you and allow you to verify all information. |
| Step 8: |
Negotiate price, terms and conditions. Your Sunbelt Business Broker will mediate all offers and counter-offers until a purchase agreement is reached between the parties. |
| Step 9: |
Complete your due diligence. Due diligence begins when the offer is accepted by the seller. Once a purchase agreement is accepted by both parties, you will make a closer investigation of the business to confirm, to your satisfaction, the validity of your offer. This is when the seller will provide all the detail information you require. |
| Step 10: |
Have documents prepared for closing. The closing attorney will not represent either party. He drafts all necessary legal documents to comply with the written purchase agreement. You may agree with the seller to share the cost of the closing attorney. |
| Step 11: |
Close the purchase and begin your first day as the owner of your own business. The seller will assist in an orderly transition as agreed in the purchase agreement. |
| Step 12: |
Congratulations! You are part of the American dream – You now own your own business!! |
Interested in learning more about buying a business? Call or contact us today!
Boca Raton: (561) 994-5300