Buying a Business

Advantages to Buying a Healthy Business:

  • Immediate cash flow with substantial income for years to come
  • Retention of a trained staff to support the new owner
  • Established suppliers
  • Established customer base with years of buying history
  • Licenses, patents, permits, etc. in-place
  • Training from sellers to help ensure your success with your new venture

Steps to Buying a Business:

  1. Evaluate what type of business you want – Services, manufacturing, retail, distribution, etc.
  2. Meet seller to understand the culture, operations, etc.
  3. Create a cash flow calculation to ensure that the business can provide payback to you
  4. Conduct a preliminary evaluation of the business to make a fair offer
  5. Conduct due diligence to confirm the validity of the offer
  6. If external funding is necessary, begin working with lenders
  7. Prepare documents for closing with a business broker and attorney