Buying a Business
Buying a business is one of the most important financial decisions you will ever make. Boardroom Brokers’ team of experts is committed to putting you in the best position for success.
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Buying a business is one of the most important financial decisions you will ever make. Boardroom Brokers’ team of experts is committed to putting you in the best position for success.
Find the Right Fit
Knowing which business opportunity is right for you is critical to your success. Let us help you answer the hard questions:
The Boardroom Brokers, Inc. team of experts will guide you through each step of the process.
Our team of lawyers, commercial lending officers, tax consultants and accountants are available to help you navigate applicable tax laws, accounting laws, contract laws, disclosure laws and many others that can be binding on either party.
1In your initial meeting, the Boardroom Brokers agent will ask you questions to determine your skill set, business goals and personal preference to help you decide what types of businesses interest you.
2Sign a confidentiality agreement and complete the buyer profile (your Boardroom Brokers agent will provide these forms during your initial meeting). Public knowledge of a potential sale can affect the attitudes and actions of customers, employees, competitors, lenders, suppliers, or investors, and thus the value of the company. Confidentiality is important!
3Potential buyers must sign a Non-Disclosure document before reviewing the confidential information provided by any targeted businesses.
4Upon receipt of confidential information and financials about the business, your Boardroom Brokers agent will contact you to share the information and discuss it with you.
5To initiate the buying process, you must sign a Letter of Intent to purchase the business.
6You and your Boardroom Brokers agent will meet with the current business owner.
7Your Boardroom Brokers agent will write an offer to purchase the business based on terms you will determine with the agent.
8Meet with your attorney, accountant, etc. as needed.
9Finalize the purchase contract. Negotiate real estate sale/lease.
10Buyers will obtain financing with the guidance of the business broker.
11Buyer performs due diligence on company.
12Closing.
The sale of an established business is highly confidential. If employees, customers, and/or vendors know that the business is for sale, it could hurt the business. Before you can see details about a business or have the address of a business for sale, you must sign a confidentiality agreement.
When you sign the confidentiality agreement, you are promising that you will not go to the business and disclose yourself as a buyer to employees, current owners, customers, and/or vendors. You agree to go through the broker for all discussions about the business. You also agree that you will not take information learned about the business to start your own competing business.
We ask all buyers to complete a confidential buyer profile so we can help you determine the right fit for you. We may know of other businesses for sale that will fit what you are looking for. We also need to make sure that you are financially qualified to buy the business in which you are interested.
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