First of all, the process of buying or selling a business requires a thorough due diligence of all key elements of the business. Importantly, we have established the following steps to buy a business because we guide you through with our buyer assistant program to facilitate your business acquisition.
BUSINESS ACQUISITION PROCESS
We work together so we can determine your business acquisition criteria based on many factors that include a minimum of the following:
- lifestyle attributes,
- family requirements,
- price and terms,
- strengths and experience,
- potential and upside for growth,
- risk levels,
BUSINESS OPPORTUNITY TARGETING
We target business opportunities on the open market based on the criteria you provide. This includes both opportunities posted on general business listing sites, but more importantly, business opportunities not advertised using direct marketing methods. We have fostered a strong network of CPAs, business lawyers, and wealth managers due to the past 30 years of being in business. As a result, they provide us with business opportunities that are strictly word of mouth. Therefore, we give you the inside track on these confidential business sales. Oftentimes, these may be your best opportunities.
You provide us with background information for our financial statement with the source of funds for a purchase. Besides that, and as needed, we will provide a list of Attorneys, Accountants, Wealth Managers as well as Banking & Lending coordination. So, when we approach business owners, a lending pre-qualification letter will increase our credibility.
We sign an agreement to maintain absolute confidentiality concerning information provided to you on any businesses opportunity we pursue.
PRESENTATION & ANALYSIS
We gather the cursory due diligence information on the company because our team coordinates your request for additional decision-making materials. Hence, we analyze the opportunity, the risks, potential rewards, and perform a valuation of the company.
OFFER TO PURCHASE
First of all, we assist you in preparing an offer to purchase using a Letter of Intent or Earnest Money document. Secondly, this offer is contingent upon your detailed inspection of the business and other contingencies. Thirdly, it is not binding until all contingencies are removed. Fourth, we present your offer to the Business Seller providing the Seller with background information about you, your previous experience, and your point of view on how you arrived at the offering price, terms, and conditions.
The Business Seller accepts the offer as written, or likewise, writes a counter offer.
When both parties agree to all the terms and conditions of the sale by signing all amendments and counter-offers, consequently, it then becomes a Purchase Agreement. Similarly, we develop a plan with detailed steps for closing the deal.
An Escrow account is established. We provide the Escrow attorney with copies of the offer to Purchase Agreement and any other necessary documents.
INSPECTION OF FINANCIALS AND BUSINESS OPERATIONS
You can now conduct a detailed inspection of the Business Seller’s financial records and business operations to verify the offering elements of the business.
As your requirements are met, you remove the existing contingencies in the Purchase Agreement. Above all, it is now a binding agreement. A date is set for the signing of the closing documents at the Escrow Attorney’s office.
As a result, arrangements are made for you and the Business Seller to take inventory if it applies to the ownership of the business.
All parties meet at the Escrow office to sign all closing documents.
Finally, we discuss the growth of your new company through acquisition. We buy dinner!
ACQUISITION PROCESS DOCUMENTS
Call 206-226-4311 to receive our FREE Buyer Acquisition Process Report.