Buying a Business

1. Decide you would like to purchase a business.
2. Contact a Business Broker to help find a business that meets your objectives.
3. Sign a Confidentiality Agreement
4. Provide a resume and financial information to your Business Broker.
5. Review the businesses to assure it meets your financial needs.
6. Meet with the Seller / Owner.
7. Make an offer which will be presented to the seller.
8. Negotiate the purchase price.
9. Once both parties agree on the terms, conditions, and price an escrow deposit is made and a purchase agreement is signed by both parties.
10. Due diligence takes place to verify all the details of the business.
11. Closing documents are prepared by the buyer and seller’s attorney’s
12. Inventory is taken.
13. A closing will take place for the business to change ownership.
14. Seller will train the buyer for an agreed amount of time.

Contact me about Buying a Business