The business buying process is a complex one, but your business broker, Brenda Bernhard, will be there to support you throughout the process. As the business buyer, it is important to make yourself a serious and sincere buyer by addressing the owner’s needs and reservations to give confidence and trust. Recent credit reports, letter of good standing, and loan commitment from the lender can all be part of the process of buyer preparation.

Here are some of the things the seller will be looking for from you:

1. Financial Documentation

Your personal qualifications and financial strength are important to the seller. They want to be sure they are working with the right buyer and not wasting their time. The seller wants to know you are committed to the business.

2. Business Acquisition Offer

Your formal offer must be designed to satisfy the needs of both you and the seller. If you bid too high, it means you spent more than you should have on the business. If you bid too little, you can hurt your relationship with the seller. Your business broker is there to help you craft the right offer.