How to Buy a Business
As your business broker, Brenda will help you to manage the business buying process from start to finish.
Establish Confidentiality
Strict confidentiality practices are followed to ensure the business purchase remains confidential and private from the start of the process to the successful close of escrow. Confidentiality is understood and adhered to in everything done for you. Confidentiality and Non-Disclosure Agreements are signed to guarantee the privacy of your information and are required from the sellers to ensure all information relating to the businesses of interest remains private. Along with the Confidentiality Agreement, a Buyer Profile will be requested to provides a profile of your past experience, amount of cash on hand for the investment, an idea of skill sets, interests, and much more. The process will allow your business broker to zero in on the businesses that will most likely suit the needs of each buyer.
Analyze Your Business Goals
Brenda will work with you to compare the wide array of types of business opportunities available to you that best suit your needs and interests. The step includes, but is not limited to, establishing your budget for the business purchase, defining the type of businesses you are interested in, and understanding what type of return on investment you are looking for. By understanding your ideas and needs Brenda Bernhard will be better positioned to match you with the right business opportunities.
Research the Market for Business for Sale
By searching through Brenda’s exclusive listing agreements with sellers, business broker databases, and proprietary resources, Brenda will find the business opportunities which would be a suitable match for you based on your needs. Brenda’s goal is to present you with only qualified matches so you are in the best position to choose the business which is most attractive to you and which has the greatest potential return on investment.
Present the Business Opportunities
You will be presented with the businesses for sale that were most suitable for your needs and you will have the chance to discuss and analyze the opportunities surrounding them with your business broker, Brenda Bernhard. The initial presentations will give you an overview and an introduction into the business , further on-site visits, interviews, and ongoing research will then be pursued at your convenience and scheduled for you.
Establish Meeting with the Business Owners
Once the promising business opportunities have emerged, your business broker, Brenda will setup meetings with the business owners to discuss the businesses and explore the potential purchase. Serving as the intermediary between you and the business owner.
Submit Your Formal Purchase Offer
Once you have evaluated the business opportunities and have made a decision on the business you are interested in purchasing, an offer to purchase or letter of intent will be prepared on your behalf, the document will be drafted to ensure all deal points are discussed and negotiated. . Brenda, your business broker, will be there to support you throughout the process and negotiate the terms and price of the transaction along with all of the many other details that go into a successful transaction.
Closing the Business Sale
Once the business owner has accepted your offer and the parties are ready to move forward with the purchase, the business buying process will transition to the due diligence stage, where we will work with the accountants, lawyers, banks, landlords, and other parties involved to ensure all details that had been presented to you with regard to the operation and financial health are verified for accuracy. As always, your business broker, Brenda Bernhard, will always be by your side to support you and guide you throughout the process.