Selling buy a business
FOR POTENTIAL BUSINESS BUYERSBuying a business can be a complicated process, from finding the right opportunity, to working out all the details required for a smooth and seamless transfer of ownership. Trinity Business Brokers understands the importance of finding the best fit that meets your needs, talents, skills and lifestyle goals. Whether it's owning your first business or adding to your existing business portfolio, most buyers are seeking to purchase an on-going business. Why? To acquire the business assets or group of assets, that generates the cash flow, income stream or profit, and to obtain those ownership rights and interests to produce the same.
The following are basic questions that buyers will ask and want answers for while considering the purchase or acquisition of any type of business:
- How long has the business been operating?
- How long has the present owner owned the business?
- Why is the present owner selling?
- Why accounting systems and books and records are very important in determining the bottom line which reflects value
- Get the basic facts about the business you are interested in
- When can I view financial information and tax returns?
- Along with other questions…
- Sign a confidentiality/non-disclosure agreement
- Review pertinent proprietary and financial information
- Visit the business
- Get your questions answered
- Meeting with the sellers and tour the business operations
- Present an offer to purchase or letter of intent
- Due diligence - at this point you have arrived at a meeting of the minds with the seller and you are ready to begin removing contingencies, performing obligations in what is commonly called as due diligence.
- Choose a closing date and sign the asset purchase agreement.
Contact us today for a free, no obligation consultation.
