Attention: Buyers, Buyers, BuyersBuy a Business Buying a business For Buyers
Posted by Tony Samples on
If you have been searching for a business on your own, you know that it can be frustrating and time consuming. Ask yourself, are you serious about buying a business?
When you are ready to buy, we would like to help you find that perfect business. Of course, we first will have you consider the great businesses we have available. If none of those work for you, we can perform a very targeted search. A targeted search allows us to identify businesses not currently on the market but that meet your price range and your industry of interest. We are confident that we can find the business you are dreaming about.
Here is the normal procedure for a targeted search:
- We first meet with you to determine the industry, sector, size, location, etc. of the businesses to target. We also need to hear about your work experience, education etc. In addition, we need to understand your financial situation in order to get a feel for the size of business to target as well as understanding how much free cash flow you need after the debt service is paid in order to properly take care of you and/or your family.
- We set up appointments with SBA lenders to determine potential price and terms and pre-qualify you for the SBA loan.
- We then use our databases to run a search of the related businesses. We ask you to scrub the list to eliminate businesses that don’t work for you.
- We mail all the potential sellers.
- We follow up with a phone call to the sellers.
- Once we locate interested sellers, we obtain more information about their business including financials.
- Based on the new information, we reduce the list of target businesses to around 5.
- Visit the target businesses, meet the owner, ask key questions etc.
- Now, we reduce the number to around 2-3 potential businesses.
- We ask you to rank the targets 1-2-3. We write an offer to present to the owner of your top choice.
- We work through the offer to arrive at price and terms.
- We work with you to obtain the financing needed.
- We work through due diligence and close.
The dream client for us is a buyer who is qualified, motivated, knows what they want, and is ready to act when we show them the business that fits their needs.
Please excuse my directness, as no offense is intended, but in our line of work we get calls from a lot of “tire kickers”. People who think they would like to own a business but either don’t have the financial means or end up not comfortable leaving the security of a corporate job. This can take up time and resources. For this reason, we only work with serious buyers. Buyers who are willing to work with us to find them that perfect business.
How do you pay for this service? We charge a small retainer and success fee.
After reading this we hope that you have an interest in our services.
Are You Ready? What Is The First Step?
I would like to meet with you in person, where you can determine if you feel comfortable with us representing you in the business search. I can further explain the procedure and answer any questions that you may have. Feel free to call us anytime.