Buying a business is a very demanding process. It is important that upon starting your quest you have a very clear idea of what type of opportunity you seek. Following are some of the most important questions that you will want to answer in detail:

1. What professional skills do you have?
2. What are your personal and professional strengths and weaknesses?
3. What type of businesses are of interest?
4. What are some key ingredients of your desired business?
5. What are your motivations for owning a business?
6. How much cash do you have to purchase a business?
7. Depending on the opportunity, you may also need to have cash for items such as working capital, 1^st month’s rent, security deposits, escrow fees, additional capital expenditures and tenant improvements.
8. How will you finance the transaction? Will you need a SBA loan?
9. How much time/week are you willing to spend on your business?
10. What is your tolerance for risk?
11. What are your immediate income expectations, and what are your income goals/expectations over the intermediate and long term?

The most credible buyers have a very clear understanding of what they are seeking in an opportunity and why. We are happy to provide our insights to qualified buyers in an effort to help sharpen up your focus. We can provide guidance on the types of businesses/industries that are harder to sell and provide less appreciation to a buyer when they are ready to sell.

Conversely, we have an understanding of what drives strong business value and makes a disposition easier when the time comes. We have seen how deals are structured for different types of businesses and situations. We know the lenders that can get deals done for the right buyer and seller. If needed, we also have a list of attorneys with whom we have worked in the past and have proven their ability to provide solid legal counsel at reasonable rates. The process of buying a business is very arduous and, if you are not very careful, can be costly and time consuming. The goal is to find the right business with the least amount of effort. You want to avoid dead ends and black holes of due diligence.

It takes time and patience to find the right deal. We like to bring qualified buyers in front of the seller very early in the process. This helps both parties develop trust and a rapport. Moreover, the buyer will gain better insight into the business including its history, challenges, opportunities, what has made it successful, and what is needed for continued success and growth. There is always a good amount of due diligence that is completed before an offer is made. The goal is to have a good enough understanding of the opportunity to make a well informed offer with little chance of it falling out of contract.

Brokers will bring a business to market with a requested deal price, but it is the buyer who ultimately makes the market. You want to bring forth a well-conceived and defensible deal structure which the seller will take seriously. Using industry standard CABB documents, we will present your offer to the seller and provide the reasoning behind the offer. Once in contract, it is important to work through due diligence carefully but also in a timely manner.