Buying a business can be a complicated procedure, from finding the right one to negotiating terms and working out all the details required for a smooth transfer of ownership.
Synergy Business Brokers has helped Business Buyers and Sellers navigate the business sale process for over 20 years. We have different types of Businesses for sale across price ranges, industries, and locations. Below is some information that may be helpful as you consider which business might be right for you.
To view based on location, please click on the state of interest.
You can consider the business’s strengths and weaknesses and how your skills and interests would improve and grow a particular company. If it seems like a good fit, the next step would be to speak with the broker who has the listing of interest and discuss the business and your background further to see if it’s worthwhile to set up a meeting or phone conversation with the company’s owner.
When you have found a business you would like to get more information on, please click on the Non-Disclosure Agreement on the listing of interest. Once you’ve filled out the NDA and Buyer Registration Information, a Broker will follow up with you. Please keep in mind that confidentiality is essential to all of the sellers we represent. They want to limit the information provided to people who are financially qualified to buy their business.
We can connect you with several banks to ensure that you can qualify for a loan to buy a business of interest. In many cases, we supply the bank with information on the company, and you just need to fill out an application to determine what you can qualify for. Some business owners may be willing to provide seller financing for part of the purchase price.
After you understand your financing options and speak with the business owner to get your questions answered, it’s time to consider whether you want to make an offer for the company. A business broker can help you draft a letter of intent that outlines the price and terms on which you are proposing to purchase a business. Once you sign the letter of intent, the business owner will review it and see if it is acceptable or if they will make a counteroffer. If the offer is not in the ballpark, sometimes the owner will decline the offer without making a counteroffer. If you are serious about the business, it’s best to make a reasonable offer for it to be considered.
If the terms of an offer letter are agreeable, both parties will sign it, and the next phase is to move to due diligence. You will verify more information about the business, including financial statements, tax returns, balance sheets, intellectual property, customer base, and contracts, to determine whether to move to the next step: having an attorney negotiate a purchase and sale agreement.
When the attorneys finish negotiating the purchase agreement, it’s time to set a closing date and start the next chapter in ownership of your new business. Not to worry; the seller typically helps the buyer learn about the business, including its customers, employees, products, services, etc.
Synergy Business Brokers has years of experience. Call today at (888)-750-5950 or fill out our contact form.
