01 Mar 6 Steps To Buying A Business
Buying a business is an exciting process filled with important, timely decisions and comprehensive evaluations of your options. Our expert team has helped hundreds of people move through our step-by-step buying process with ease. We know the market, the third-party professionals, and all of the steps you need to get the right business for you.
At A R Business Brokers, we pride ourselves on our integrity and honest approach to business. As your partner, we promise to keep it simple.
Here is what we promise to avoid during the business-buying process:
- We aren’t going to give you a hard sell. We aren’t about high pressure.
- We aren’t going to encourage you to buy a business that you cannot manage or afford.
- We aren’t going to confuse you with legal terms and paperwork.
We are committed to our clients for the long-term, so we have a different approach.
- We will offer real, honest advice and guidance based on research and expertise.
- We will guide you through the process and paperwork, and we’ll take the time to answer all your questions.
- We will help you connect with experts who can save you time and money.
6 Steps to Buying a Business
1. We will meet with you to discuss your business interests, expectations, and goals. Once we identify these primary objectives, we will help you identify potential businesses to consider purchasing.
2. We will provide you with access to our listings and will keep you up-to-date on the latest businesses opportunities to hit the market.
3. While considering your business opportunities, we encourage you to conduct some research. You will want to examine locations, business types, demographics, etc. This can be done by visiting businesses within the geographic area you are considering.
Tip: You don’t need to hire a lawyer for the beginning of the business-buying process. This step comes later in the process and A R Business Brokers can handle the other steps, including the preparation of the conditional offer — this will save you a lot of money.
4. Once you find a business you are interested in, we will prepare a conditional offer for you. The conditional offer will typically include four or five conditions including: due diligence, financing, leasing, franchise approval (if it’s a franchise), and a legal review.
You will want to understand the numbers behind your business. This can be accomplished by reviewing the financial statements, the legal status, the assets, the inventory, the equipment (if applicable), and the accounts receivable. We can connect you with expert, third-party advisors to assist you.
5. When the paperwork arrives, as part of your conditional offer, we will assist you with a preliminary review of the documents. If we find any odd circumstances or red flags, we will notify you immediately.
6. Once you are satisfied with all of the conditions of your offer, we will ensure that the closing documents are professionally prepared and readying for signing.
We are dedicated to helping our clients make the right business-buying choices that meet their goals and suit their lives. Contact A R Business Brokers today and we’ll help you get started.