Buying a business isn't something that you do every day. That's why it makes sense to engage an experienced, professional business broker to educate you on the process and guide you to making the right business choice for you.
So what can you expect from a professional business broker? He or she will help you:
- Determine how much you can afford to pay for a business.
- Determine the right type of business that will meet your financial goals.
- Determine the geographic location and type of industry that's best for you.
- Locate businesses and companies for sale.
- Gather and evaluate information on these opportunities.
- Structure the purchase offer.
- Obtain financing.
- Close the deal.
Business brokers prefer to talk to people in person, and you, the prospective business buyer, are no exception. During the preliminary meeting, your broker will typically ask you questions such as the following:
- What is your time frame for buying a business?
- What are your expectations about the purchase?
- Do you have the necessary funds to buy a business?
- Is the cash readily available?
- Can we introduce you to a reliable lender who will help arrange third party financing if needed?
After this fact-finding meeting, your business broker can then show you businesses that are both feasible and that fit your buying requirements.
Your business broker will then lead you through these further steps:
- Sign a non-disclosure or confidentiality agreement.
- Provide you with preliminary information about one or more businesses, including pertinent financial data.
- Arrange for you to see businesses of interest.
- Once you have indicated interest in a particular business, your broker will supply additional information and schedule further on-site appointments.
An experienced, professional business broker is your best source for answering questions, addressing concerns and resolving loose ends.
Once you're serious about a particular business, your business broker will:
- Arrange a meeting between you and the seller. You'll have an opportunity to ask the seller pertinent questions and to establish rapport and begin building a feeling of trust.
- Negotiate points between you and the seller.
- Work with you on structuring the offer to the seller.
- Help you arrange financing as necessary.
- Schedule the closing.
What's the best reason for using an experienced, professional business broker to help you buy your new business? It's your bottom line.
Simply put, with an experienced, professional business broker partnering you in this transaction, you'll have the confidence and peace of mind that you negotiated the best price and the best terms available.
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When you're serious about buying the right business for your needs, call Lou Pereira at 603.890.6628 or contact us directly via e-mail.
